538,572 Shares in The Charles Schwab Co. (NYSE:SCHW) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new position in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 538,572 shares of the financial services provider's stock, valued at approximately $39,860,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SCHW. Prospera Private Wealth LLC acquired a new stake in shares of Charles Schwab in the 3rd quarter worth $31,000. Atala Financial Inc acquired a new position in shares of Charles Schwab in the fourth quarter worth $41,000. Knuff & Co LLC lifted its position in shares of Charles Schwab by 1,309.3% in the fourth quarter. Knuff & Co LLC now owns 606 shares of the financial services provider's stock valued at $45,000 after acquiring an additional 563 shares in the last quarter. Financial Life Planners acquired a new stake in shares of Charles Schwab during the fourth quarter valued at $46,000. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Charles Schwab during the fourth quarter valued at $46,000. Hedge funds and other institutional investors own 84.38% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on SCHW shares. Morgan Stanley upped their target price on shares of Charles Schwab from $84.00 to $91.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Jefferies Financial Group upped their price objective on shares of Charles Schwab from $84.00 to $94.00 and gave the company a "buy" rating in a research note on Monday, December 9th. Redburn Partners lowered their target price on shares of Charles Schwab from $70.00 to $68.00 and set a "sell" rating for the company in a research note on Friday, January 17th. Piper Sandler boosted their price target on Charles Schwab from $65.00 to $70.00 and gave the company a "neutral" rating in a report on Tuesday, January 7th. Finally, JMP Securities restated a "market outperform" rating and set a $94.00 price objective (up previously from $84.00) on shares of Charles Schwab in a report on Monday, December 9th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $86.33.

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Insider Transactions at Charles Schwab

In other Charles Schwab news, insider Paul V. Woolway sold 3,380 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $79.32, for a total value of $268,101.60. Following the transaction, the insider now directly owns 57,818 shares of the company's stock, valued at $4,586,123.76. This represents a 5.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 501,087 shares of company stock valued at $40,952,233 over the last quarter. Company insiders own 6.60% of the company's stock.

Charles Schwab Trading Up 1.2 %

Shares of NYSE:SCHW traded up $1.00 during trading on Tuesday, reaching $80.96. 2,209,718 shares of the stock were exchanged, compared to its average volume of 8,442,138. The Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $84.50. The firm's 50-day moving average price is $79.14 and its 200 day moving average price is $74.98. 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 cap of $146.82 billion, a price-to-earnings ratio of 27.07, a price-to-earnings-growth ratio of 0.99 and a beta of 0.98.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping 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 period in the previous year, the firm earned $0.68 earnings per share. Charles Schwab's revenue for the quarter was up 19.5% on a year-over-year basis. On average, sell-side analysts anticipate that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given 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 yield of 1.33%. Charles Schwab's dividend payout ratio (DPR) is 36.12%.

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.