Bryce Point Capital LLC Invests $554,000 in The Charles Schwab Co. (NYSE:SCHW)

Bryce Point Capital LLC bought a new stake in The Charles Schwab Co. (NYSE:SCHW - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 7,489 shares of the financial services provider's stock, valued at approximately $554,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of SCHW. Norges Bank acquired a new position in Charles Schwab during the fourth quarter worth $1,289,544,000. Primecap Management Co. CA raised its stake in shares of Charles Schwab by 310.3% in the 4th quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider's stock valued at $314,716,000 after acquiring an additional 3,216,000 shares during the period. Franklin Resources Inc. lifted its stake in Charles Schwab by 15.0% during the third quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider's stock worth $1,644,674,000 after purchasing an additional 3,157,923 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Charles Schwab by 91.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,217,799 shares of the financial services provider's stock valued at $460,179,000 after acquiring an additional 2,962,878 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Charles Schwab in the fourth quarter valued at approximately $189,791,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Stock Down 7.7 %

Shares of NYSE SCHW traded down $5.80 during mid-day trading on Friday, reaching $69.07. The company had a trading volume of 25,464,103 shares, compared to its average volume of 9,026,468. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The Charles Schwab Co. has a twelve month low of $61.01 and a twelve month high of $84.50. The stock's 50 day moving average is $79.09 and its 200-day moving average is $75.73. The stock has a market capitalization of $125.26 billion, a PE ratio of 23.10, a price-to-earnings-growth ratio of 0.99 and a beta of 0.91.

Remove Ads

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.11. The firm had revenue of $5.33 billion for 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%. The company's revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.68 earnings per share. As a group, equities analysts anticipate that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.56%. This is an increase 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 is presently 36.12%.

Insiders Place Their Bets

In related news, Chairman Walter W. Bettinger sold 464,629 shares of the business'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 completion of the transaction, the chairman now owns 827,377 shares of the company's stock, valued at approximately $67,770,450.07. The trade was a 35.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Arun Sarin sold 8,548 shares of the firm's stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total value of $699,397.36. Following the completion of the sale, the director now directly owns 18,617 shares in the company, valued at $1,523,242.94. This trade represents a 31.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 513,081 shares of company stock valued at $41,903,066 over the last quarter. Insiders own 6.60% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on SCHW. Citigroup raised shares of Charles Schwab from a "neutral" rating to a "buy" rating and raised their target price for the company from $85.00 to $102.00 in a report on Wednesday. Barclays increased their target price on shares of Charles Schwab from $95.00 to $96.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 22nd. Truist Financial lowered their target price on shares of Charles Schwab from $91.00 to $85.00 and set a "buy" rating on the stock in a report on Friday. JMP Securities restated a "market outperform" rating and set a $94.00 target price (up from $84.00) on shares of Charles Schwab in a research report on Monday, December 9th. Finally, UBS Group raised their price objective 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. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Charles Schwab presently has a consensus rating of "Moderate Buy" and a consensus target price of $86.94.

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.