Fmr LLC Boosts Stake in The Charles Schwab Co. (NYSE:SCHW)

FMR LLC increased its stake in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 69.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,700,013 shares of the financial services provider's stock after purchasing an additional 3,974,940 shares during the quarter. FMR LLC owned approximately 0.55% of Charles Schwab worth $717,898,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SCHW. Norges Bank bought a new position in Charles Schwab in the 4th quarter valued at approximately $1,289,544,000. Primecap Management Co. CA raised its position in 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 worth $314,716,000 after purchasing an additional 3,216,000 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Charles Schwab by 15.0% during the 3rd quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider's stock worth $1,644,674,000 after buying an additional 3,157,923 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Charles Schwab by 91.0% in 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, Raymond James Financial Inc. acquired a new stake in shares of Charles Schwab in the fourth quarter valued at about $189,791,000. Institutional investors and hedge funds own 84.38% of the company's stock.

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Insider Activity at Charles Schwab

In other news, insider Paul V. Woolway sold 3,380 shares of Charles Schwab stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $77.43, for a total value of $261,713.40. Following the completion of the transaction, the insider now directly owns 45,824 shares in the company, valued at approximately $3,548,152.32. The trade was a 6.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arun Sarin sold 8,548 shares of the stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $81.82, for a total value of $699,397.36. Following 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. Over the last three months, insiders sold 513,081 shares of company stock valued at $41,903,066. 6.60% of the stock is owned by insiders.

Analysts Set New Price Targets

SCHW has been the topic of several analyst reports. Truist Financial reduced their target price on Charles Schwab from $91.00 to $85.00 and set a "buy" rating on the stock in a report on Friday, April 4th. TD Cowen upgraded shares of Charles Schwab from a "hold" rating to a "buy" rating and increased their price objective for the stock from $88.00 to $103.00 in a research report on Tuesday, February 18th. Citigroup upgraded shares of Charles Schwab from a "neutral" rating to a "buy" rating and boosted their target price for the company from $85.00 to $102.00 in a report on Wednesday, April 2nd. Barclays lowered their price objective on Charles Schwab from $96.00 to $84.00 and set an "overweight" rating for the company in a research report on Monday, April 7th. Finally, Redburn Partners decreased their target price on Charles Schwab from $70.00 to $68.00 and set a "sell" rating for the company in a research note on Friday, January 17th. Two research 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. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $85.33.

Charles Schwab Stock Up 0.5 %

Shares of SCHW stock traded up $0.42 during trading hours on Monday, reaching $77.38. The company had a trading volume of 2,192,856 shares, compared to its average volume of 9,259,946. The business has a fifty day simple moving average of $77.77 and a 200-day simple moving average of $76.23. The Charles Schwab Co. has a 12 month low of $61.01 and a 12 month high of $84.50. The company has a market cap of $140.33 billion, a price-to-earnings ratio of 25.88, a price-to-earnings-growth ratio of 0.99 and a beta of 0.91. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47.

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

Charles Schwab Company 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.