Clearbridge Investments LLC boosted its holdings in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 86.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,062,247 shares of the financial services provider's stock after purchasing an additional 1,888,426 shares during the quarter. Clearbridge Investments LLC owned about 0.23% of Charles Schwab worth $300,647,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Inkwell Capital LLC bought a new stake in shares of Charles Schwab in the 4th quarter worth $3,725,000. United Bank boosted its holdings in Charles Schwab by 11.0% in the fourth quarter. United Bank now owns 12,606 shares of the financial services provider's stock worth $933,000 after purchasing an additional 1,254 shares during the last quarter. Schroder Investment Management Group grew its position in Charles Schwab by 10.1% in the 4th quarter. Schroder Investment Management Group now owns 630,922 shares of the financial services provider's stock worth $46,644,000 after purchasing an additional 57,684 shares during the period. Arrowstreet Capital Limited Partnership raised its stake 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 buying an additional 2,962,878 shares during the last quarter. Finally, Allianz SE purchased a new position in shares of Charles Schwab in the 4th quarter worth $634,000. Institutional investors own 84.38% of the company's stock.
Analyst Upgrades and Downgrades
SCHW has been the subject of a number of research reports. TD Cowen upgraded Charles Schwab from a "hold" rating to a "buy" rating and upped their price objective for the company from $88.00 to $103.00 in a research report on Tuesday, February 18th. Morgan Stanley raised their price objective on shares of Charles Schwab from $84.00 to $91.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. JMP Securities reaffirmed a "market outperform" rating and set a $94.00 target price (up from $84.00) on shares of Charles Schwab in a report on Monday, December 9th. Truist Financial lifted their price target on shares of Charles Schwab from $90.00 to $91.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Charles Schwab from $98.00 to $105.00 and gave the stock a "buy" rating in a report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $87.28.
Read Our Latest Stock Analysis on Charles Schwab
Charles Schwab Price Performance
SCHW stock traded down $2.31 during mid-day trading on Thursday, hitting $76.28. The company had a trading volume of 6,869,593 shares, compared to its average volume of 8,897,527. The company has a market capitalization of $138.34 billion, a price-to-earnings ratio of 25.51, a P/E/G ratio of 0.99 and a beta of 0.91. The company has a 50-day moving average price of $79.48 and a 200 day moving average price of $75.69. 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.
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 (EPS) for the quarter, topping analysts' consensus estimates of $0.90 by $0.11. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The company had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same period last year, the company earned $0.68 earnings per share. Charles Schwab's revenue was up 19.5% on a year-over-year basis. On average, research analysts anticipate that The Charles Schwab Co. will post 4.22 earnings per share for the current year.
Charles Schwab Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a dividend of $0.27 per share. This is a positive change 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 1.42%. The ex-dividend date of this dividend was Friday, February 14th. Charles Schwab's dividend payout ratio (DPR) is currently 36.12%.
Insider Buying and Selling at Charles Schwab
In other Charles Schwab news, insider Paul V. Woolway sold 9,887 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $75.38, for a total transaction of $745,282.06. Following the completion of the sale, the insider now directly owns 47,931 shares of the company's stock, valued at approximately $3,613,038.78. This represents a 17.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Walter W. Bettinger sold 464,629 shares of Charles Schwab stock in a transaction that occurred on 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 directly owns 827,377 shares in the company, valued at approximately $67,770,450.07. The trade was a 35.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 513,081 shares of company stock valued at $41,903,066 in the last quarter. 6.60% of the stock is owned by insiders.
Charles Schwab Company Profile
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Free Report)
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.
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