Arrowstreet Capital Limited Partnership Has $460.18 Million Position in The Charles Schwab Co. (NYSE:SCHW)

Arrowstreet Capital Limited Partnership raised its position in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 91.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,217,799 shares of the financial services provider's stock after acquiring an additional 2,962,878 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.35% of Charles Schwab worth $460,179,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allianz SE bought a new position in Charles Schwab in the 4th quarter worth approximately $634,000. Cornercap Investment Counsel Inc. acquired a new stake in Charles Schwab in the 4th quarter worth $1,756,000. Allstate Corp bought a new position in shares of Charles Schwab during the 4th quarter worth about $3,514,000. Maridea Wealth Management LLC bought a new stake in shares of Charles Schwab in the fourth quarter valued at about $302,000. Finally, Brown Brothers Harriman & Co. grew its position in Charles Schwab by 16.2% during the fourth quarter. Brown Brothers Harriman & Co. now owns 9,246 shares of the financial services provider's stock worth $684,000 after buying an additional 1,287 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Charles Schwab news, Chairman Walter W. Bettinger sold 464,629 shares of the firm's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the transaction, the chairman now owns 827,377 shares in the company, valued at approximately $67,770,450.07. This trade represents a 35.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul V. Woolway sold 3,380 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $79.32, for a total value of $268,101.60. Following the completion of the sale, the insider now directly owns 57,818 shares of the company's stock, valued at approximately $4,586,123.76. This trade represents a 5.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 513,081 shares of company stock valued at $41,903,066. 6.60% of the stock is currently owned by insiders.

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Charles Schwab Price Performance

SCHW traded down $2.93 during midday trading on Thursday, hitting $75.66. The company had a trading volume of 5,879,828 shares, compared to its average volume of 8,893,524. The Charles Schwab Co. has a twelve month low of $61.01 and a twelve month high of $84.50. The firm's 50-day simple moving average is $79.48 and its 200-day simple moving average is $75.69. The company has a market capitalization of $137.21 billion, a PE ratio of 25.30, a P/E/G ratio of 0.99 and a beta of 0.91. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, beating analysts' consensus estimates of $0.90 by $0.11. The business had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. Charles Schwab's revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.68 earnings per share. Equities research analysts predict that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.43%. This is a positive change from Charles Schwab's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 14th. Charles Schwab's dividend payout ratio (DPR) is presently 36.12%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SCHW shares. Wells Fargo & Company raised Charles Schwab from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $89.00 to $93.00 in a report on Wednesday, January 22nd. UBS Group lifted their price target on shares of Charles Schwab from $90.00 to $95.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. JPMorgan Chase & Co. increased their price objective on shares of Charles Schwab from $87.00 to $93.00 and gave the company an "overweight" rating in a research note on Tuesday, January 7th. Barclays lifted their target price on shares of Charles Schwab from $95.00 to $96.00 and gave the company an "overweight" rating in a research report on Wednesday, January 22nd. Finally, Piper Sandler increased their price target on shares of Charles Schwab from $65.00 to $70.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $87.28.

Charles Schwab Profile

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.