Canopy Partners LLC Grows Position in The Charles Schwab Co. (NYSE:SCHW)

Canopy Partners LLC boosted its position in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 68.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,219 shares of the financial services provider's stock after buying an additional 6,615 shares during the period. Canopy Partners LLC's holdings in Charles Schwab were worth $1,200,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in Charles Schwab during the fourth quarter worth about $1,289,544,000. FMR LLC grew its stake in shares of Charles Schwab by 69.4% during the 4th quarter. FMR LLC now owns 9,700,013 shares of the financial services provider's stock worth $717,898,000 after purchasing an additional 3,974,940 shares during the period. Primecap Management Co. CA increased its holdings in shares of Charles Schwab by 310.3% during 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 purchasing an additional 3,216,000 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Charles Schwab by 15.0% in the 3rd 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. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Charles Schwab by 91.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,217,799 shares of the financial services provider's stock worth $460,179,000 after buying an additional 2,962,878 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company's stock.

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Insider Buying and Selling

In related news, General Counsel Peter J. Morgan III sold 14,643 shares of the business's stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total transaction of $1,181,690.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Walter W. Bettinger sold 464,629 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were 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 in the company, valued at $67,770,450.07. This represents a 35.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 513,081 shares of company stock valued at $41,903,066. Corporate insiders own 6.60% of the company's stock.

Charles Schwab Trading Up 4.2 %

NYSE:SCHW traded up $3.12 on Friday, reaching $76.97. The company's stock had a trading volume of 14,847,290 shares, compared to its average volume of 9,284,845. The stock has a 50 day moving average price of $77.77 and a 200 day moving average price of $76.14. The Charles Schwab Co. has a 12-month low of $61.01 and a 12-month 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 firm has a market cap of $139.59 billion, a price-to-earnings ratio of 25.74, a price-to-earnings-growth ratio of 0.99 and a beta of 0.91.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.90 by $0.11. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The business had revenue of $5.33 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the previous year, the firm earned $0.68 EPS. The business's revenue was up 19.5% on a year-over-year basis. On average, equities analysts anticipate 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. Stockholders of record on Friday, February 14th were paid a $0.27 dividend. The ex-dividend date was Friday, February 14th. This is a boost from Charles Schwab's previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.40%. Charles Schwab's payout ratio is presently 36.12%.

Wall Street Analyst Weigh In

SCHW has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Charles Schwab from $87.00 to $93.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 7th. Barclays reduced their price target on Charles Schwab from $96.00 to $84.00 and set an "overweight" rating for the company in a report on Monday, April 7th. Deutsche Bank Aktiengesellschaft boosted their price objective on Charles Schwab from $98.00 to $105.00 and gave the company a "buy" rating in a research report on Wednesday, January 22nd. Redburn Partners decreased their target price on Charles Schwab from $70.00 to $68.00 and set a "sell" rating on the stock in a research report on Friday, January 17th. Finally, Piper Sandler cut their price target on shares of Charles Schwab from $78.00 to $74.00 and set a "neutral" rating for the company in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $85.33.

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.