Harvest Fund Management Co. Ltd Boosts Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Harvest Fund Management Co. Ltd increased its stake in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 140,050.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,606 shares of the financial services provider's stock after acquiring an additional 5,602 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in Charles Schwab were worth $415,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Primecap Management Co. CA raised its holdings in shares of Charles Schwab by 310.3% during the fourth 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 during the period. Franklin Resources Inc. grew its holdings in shares of Charles Schwab by 15.0% during the third quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider's stock valued at $1,644,674,000 after buying an additional 3,157,923 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Charles Schwab during the fourth quarter worth about $189,791,000. Veritas Asset Management LLP acquired a new stake in shares of Charles Schwab in the 4th quarter worth about $185,649,000. Finally, KBC Group NV lifted its position in Charles Schwab by 186.7% in the 4th quarter. KBC Group NV now owns 2,138,033 shares of the financial services provider's stock valued at $158,236,000 after acquiring an additional 1,392,255 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company's stock.

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Charles Schwab Price Performance

NYSE SCHW traded up $0.85 during trading hours on Tuesday, hitting $80.81. The company had a trading volume of 7,661,020 shares, compared to its average volume of 8,445,808. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The firm has a market capitalization of $146.55 billion, a price-to-earnings ratio of 27.03, a PEG ratio of 0.99 and a beta of 0.98. The Charles Schwab Co. has a 52 week low of $61.01 and a 52 week high of $84.50. The firm has a 50 day simple moving average of $79.31 and a 200 day simple moving average of $75.11.

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 analysts' consensus estimates of $0.90 by $0.11. The company had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. Charles Schwab's revenue was up 19.5% compared to the same quarter last year. During the same period last year, the business earned $0.68 earnings per share. Equities research analysts expect that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The company also recently declared 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 represents a $1.08 annualized dividend and a dividend yield of 1.34%. This is a boost from Charles Schwab's previous quarterly dividend of $0.25. Charles Schwab's dividend payout ratio is presently 36.12%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SCHW shares. Truist Financial lifted their target price on shares of Charles Schwab from $90.00 to $91.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Citigroup lifted their price target on Charles Schwab from $80.00 to $85.00 and gave the stock a "neutral" rating in a report on Wednesday, January 22nd. Keefe, Bruyette & Woods upped their price objective on Charles Schwab from $81.00 to $93.00 and gave the company an "outperform" rating in a research note on Friday, December 20th. Redburn Partners lowered their target price on Charles Schwab from $70.00 to $68.00 and set a "sell" rating on the stock in a research note on Friday, January 17th. Finally, Morgan Stanley increased their price target on shares of Charles Schwab from $84.00 to $91.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Charles Schwab presently has a consensus rating of "Hold" and an average price target of $86.33.

Insider Buying and Selling

In other news, Chairman Walter W. Bettinger sold 464,629 shares of the business's stock in a transaction dated 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 owns 827,377 shares of the company's stock, valued at approximately $67,770,450.07. The trade was a 35.96 % 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, insider Paul V. Woolway sold 3,380 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $79.32, for a total transaction of $268,101.60. Following the completion of the sale, the insider now directly owns 57,818 shares in the company, valued at $4,586,123.76. This represents a 5.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 501,087 shares of company stock worth $40,952,233. Corporate insiders own 6.60% of the company's stock.

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.