Grantham Mayo Van Otterloo & Co. LLC Has $1.08 Million Stake in The Charles Schwab Co. (NYSE:SCHW)

Grantham Mayo Van Otterloo & Co. LLC lowered its position in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 20.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,523 shares of the financial services provider's stock after selling 3,776 shares during the period. Grantham Mayo Van Otterloo & Co. LLC's holdings in Charles Schwab were worth $1,075,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Charles Schwab during the fourth quarter worth about $1,289,544,000. Primecap Management Co. CA raised its holdings 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 buying an additional 3,216,000 shares during the period. Franklin Resources Inc. raised 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 lifted its stake in Charles Schwab by 91.0% in the fourth 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 in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Charles Schwab in the fourth quarter valued at approximately $189,791,000. Institutional investors and hedge funds own 84.38% of the company's stock.

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Wall Street Analyst Weigh In

SCHW has been the topic of several research reports. Redburn Partners cut their price objective on shares of Charles Schwab from $70.00 to $68.00 and set a "sell" rating on the stock in a research report on Friday, January 17th. UBS Group boosted their price target on Charles Schwab from $90.00 to $95.00 and gave the company a "buy" rating in a report on Monday, January 27th. Piper Sandler decreased their price objective on Charles Schwab from $78.00 to $74.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. JMP Securities cut their target price on Charles Schwab from $96.00 to $94.00 and set a "market outperform" rating on the stock in a research note on Tuesday, April 8th. Finally, Citigroup raised Charles Schwab from a "neutral" rating to a "buy" rating and upped their price target for the stock from $85.00 to $102.00 in a research report on Wednesday, April 2nd. Two 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 MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $85.33.

Charles Schwab Stock Performance

Shares of NYSE SCHW traded up $0.42 during midday trading on Monday, hitting $77.38. 2,192,856 shares of the company's stock were exchanged, compared to its average volume of 12,099,112. The Charles Schwab Co. has a 12 month low of $61.01 and a 12 month high of $84.50. The company's 50 day moving average price is $77.77 and its 200 day moving average price is $76.23. 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 capitalization of $140.33 billion, a PE ratio of 25.88, 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 data 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. The firm had revenue of $5.33 billion for the quarter, compared to the consensus estimate of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The company's quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 earnings per share. As a group, analysts predict 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. Stockholders of record on Friday, February 14th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date was Friday, February 14th. This is a boost from Charles Schwab's previous quarterly dividend of $0.25. Charles Schwab's payout ratio is currently 36.12%.

Insider Activity

In related news, Chairman Walter W. Bettinger sold 464,629 shares of the company's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total value of $38,057,761.39. Following the transaction, the chairman now directly owns 827,377 shares in the company, valued at approximately $67,770,450.07. This represents a 35.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Peter J. Morgan III sold 14,643 shares of Charles Schwab stock in a transaction dated 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. Over the last quarter, insiders have sold 513,081 shares of company stock valued at $41,903,066. 6.60% of the stock is owned by insiders.

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.