BI Asset Management Fondsmaeglerselskab A S Acquires 48,435 Shares of The Charles Schwab Co. (NYSE:SCHW)

BI Asset Management Fondsmaeglerselskab A S lifted its stake in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 125.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 87,013 shares of the financial services provider's stock after acquiring an additional 48,435 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Charles Schwab were worth $6,440,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Charles Schwab by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 128,578,230 shares of the financial services provider's stock valued at $9,516,075,000 after acquiring an additional 1,187,384 shares during the last quarter. Geode Capital Management LLC grew its holdings in Charles Schwab by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 30,901,484 shares of the financial services provider's stock valued at $2,279,742,000 after purchasing an additional 760,043 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Charles Schwab by 15.0% in the third quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider's stock valued at $1,644,674,000 after purchasing an additional 3,157,923 shares during the period. Fisher Asset Management LLC lifted its stake in shares of Charles Schwab by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 20,455,266 shares of the financial services provider's stock worth $1,513,894,000 after buying an additional 265,708 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Charles Schwab during the 4th quarter worth $1,289,544,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Citigroup upgraded shares of Charles Schwab from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $85.00 to $102.00 in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods boosted their price objective on Charles Schwab from $90.00 to $93.00 and gave the stock an "outperform" rating in a research report on Tuesday. Redburn Partners lowered their target price on Charles Schwab from $70.00 to $68.00 and set a "sell" rating on the stock in a report on Friday, January 17th. JMP Securities reissued a "market outperform" rating and issued a $94.00 price objective on shares of Charles Schwab in a research report on Monday. Finally, Piper Sandler raised their price objective on shares of Charles Schwab from $74.00 to $80.00 in a research note on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $85.78.

Insider Activity at Charles Schwab

In other Charles Schwab news, insider Paul V. Woolway sold 9,887 shares of the company's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $75.38, for a total transaction of $745,282.06. Following the transaction, the insider now owns 47,931 shares of the company's stock, valued at approximately $3,613,038.78. This represents a 17.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Walter W. Bettinger sold 464,629 shares of Charles Schwab stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total value of $38,057,761.39. Following the completion of the sale, the chairman now directly owns 827,377 shares of the company's stock, valued at $67,770,450.07. This trade represents a 35.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 493,482 shares of company stock valued at $40,288,720 in the last three months. Corporate insiders own 6.30% of the company's stock.

Charles Schwab Price Performance

Charles Schwab stock traded up $1.51 during mid-day trading on Thursday, hitting $79.36. 8,422,937 shares of the company were exchanged, compared to its average volume of 9,316,440. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $84.50. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The business has a fifty day moving average of $76.87 and a 200 day moving average of $76.75. The company has a market capitalization of $143.92 billion, a PE ratio of 26.54, a price-to-earnings-growth ratio of 0.99 and a beta of 0.91.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.03. The firm had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.46 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. During the same period last year, the firm posted $0.74 EPS. As a group, sell-side analysts expect that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 9th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.36%. Charles Schwab's dividend payout ratio (DPR) is presently 32.73%.

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.