The Charles Schwab Co. (NYSE:SCHW) Holdings Raised by CenterBook Partners LP

CenterBook Partners LP raised its holdings in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 40.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,424 shares of the financial services provider's stock after purchasing an additional 7,647 shares during the period. CenterBook Partners LP's holdings in Charles Schwab were worth $1,956,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. DRW Securities LLC grew its holdings in Charles Schwab by 84.1% during the 4th quarter. DRW Securities LLC now owns 12,896 shares of the financial services provider's stock valued at $954,000 after buying an additional 5,891 shares during the last quarter. TRUE Private Wealth Advisors acquired a new position in Charles Schwab in the 4th quarter valued at about $223,000. Texas Yale Capital Corp. lifted its holdings in Charles Schwab by 19.7% in the 4th quarter. Texas Yale Capital Corp. now owns 24,890 shares of the financial services provider's stock valued at $1,842,000 after purchasing an additional 4,090 shares in the last quarter. Martingale Asset Management L P boosted its stake in shares of Charles Schwab by 987.6% during the 4th quarter. Martingale Asset Management L P now owns 110,445 shares of the financial services provider's stock worth $8,174,000 after purchasing an additional 100,290 shares during the last quarter. Finally, APG Asset Management N.V. lifted its stake in shares of Charles Schwab by 495.0% during the fourth quarter. APG Asset Management N.V. now owns 1,087,154 shares of the financial services provider's stock valued at $77,702,000 after buying an additional 904,430 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on SCHW shares. JPMorgan Chase & Co. raised their price objective on Charles Schwab from $87.00 to $93.00 and gave the stock an "overweight" rating in a report on Tuesday, January 7th. Wells Fargo & Company decreased their price target on Charles Schwab from $93.00 to $87.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Redburn Partners lowered their price target on Charles Schwab from $70.00 to $68.00 and set a "sell" rating for the company in a report on Friday, January 17th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Charles Schwab from $98.00 to $105.00 and gave the stock a "buy" rating in a report on Wednesday, January 22nd. Finally, Piper Sandler lowered their target price on shares of Charles Schwab from $78.00 to $74.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Charles Schwab currently has an average rating of "Moderate Buy" and an average price target of $85.33.

Charles Schwab Stock Up 1.3 %

Shares of NYSE SCHW traded up $1.02 on Tuesday, hitting $77.94. The company had a trading volume of 3,080,102 shares, compared to its average volume of 9,258,238. 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 Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $84.50. The firm has a market capitalization of $141.35 billion, a P/E ratio of 26.07, a PEG ratio of 0.99 and a beta of 0.91. The business has a 50 day moving average of $77.67 and a two-hundred day moving average of $76.32.

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 for the quarter, topping analysts' consensus estimates of $0.90 by $0.11. The firm had revenue of $5.33 billion during the quarter, compared to analysts' expectations of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. Charles Schwab's quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.68 EPS. As a group, equities research analysts forecast that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a $0.27 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.39%. This is a positive change from Charles Schwab's previous quarterly dividend of $0.25. Charles Schwab's payout ratio is currently 36.12%.

Insider Activity

In other news, insider Paul V. Woolway sold 3,380 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $79.32, for a total transaction of $268,101.60. Following the completion of the transaction, the insider now directly owns 57,818 shares in the company, valued at approximately $4,586,123.76. This represents a 5.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Peter J. Morgan III sold 14,643 shares of Charles Schwab stock in a transaction 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 disclosure for this sale can be found here. Insiders sold 513,081 shares of company stock worth $41,903,066 over the last ninety days. Corporate insiders own 6.60% of the company's stock.

About Charles Schwab

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.