Madison Investment Advisors LLC Takes $71.16 Million Position in The Charles Schwab Co. (NYSE:SCHW)

Madison Investment Advisors LLC acquired a new stake in The Charles Schwab Co. (NYSE:SCHW - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 961,439 shares of the financial services provider's stock, valued at approximately $71,156,000. Madison Investment Advisors LLC owned approximately 0.05% of Charles Schwab as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. State Street Corp boosted its stake in Charles Schwab by 0.7% in the 3rd quarter. State Street Corp now owns 62,076,447 shares of the financial services provider's stock valued at $4,023,175,000 after buying an additional 414,949 shares in the last quarter. Geode Capital Management LLC increased its holdings in Charles Schwab by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 30,141,441 shares of the financial services provider's stock valued at $1,945,614,000 after purchasing an additional 445,304 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Charles Schwab by 6.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider's stock worth $1,858,706,000 after purchasing an additional 1,711,312 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Charles Schwab by 15.0% in 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 in the last quarter. Finally, Fisher Asset Management LLC lifted its position in Charles Schwab by 1.3% during the 4th quarter. Fisher Asset Management LLC now owns 20,455,266 shares of the financial services provider's stock worth $1,513,894,000 after buying an additional 265,708 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on SCHW shares. JPMorgan Chase & Co. increased their price objective on Charles Schwab from $87.00 to $93.00 and gave the company an "overweight" rating in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods increased their price objective on shares of Charles Schwab from $81.00 to $93.00 and gave the company an "outperform" rating in a report on Friday, December 20th. TD Cowen raised shares of Charles Schwab from a "hold" rating to a "buy" rating and upped their target price for the company from $88.00 to $103.00 in a research note on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Charles Schwab from $98.00 to $105.00 and gave the company a "buy" rating in a research note on Wednesday, January 22nd. Finally, Piper Sandler upped their target price on shares of Charles Schwab from $65.00 to $70.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $86.33.

Remove Ads

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $74.29 on Thursday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The Charles Schwab Co. has a fifty-two week low of $61.01 and a fifty-two week high of $84.50. The stock has a market capitalization of $134.72 billion, a PE ratio of 24.84, a P/E/G ratio of 0.99 and a beta of 0.98. The business has a fifty day moving average price of $78.42 and a two-hundred day moving average price of $74.16.

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 for the quarter, topping analysts' consensus estimates of $0.90 by $0.11. The company had revenue of $5.33 billion during 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 firm's quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.68 EPS. As a group, equities analysts predict 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 declared 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. The ex-dividend date was Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.45%. This is a boost from Charles Schwab's previous quarterly dividend of $0.25. Charles Schwab's payout ratio is 36.12%.

Insider Buying and Selling

In other news, Director Arun Sarin sold 8,548 shares of the firm's stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total transaction of $699,397.36. Following the completion of the transaction, the director now owns 18,617 shares of the company's stock, valued at approximately $1,523,242.94. This trade represents a 31.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul V. Woolway sold 3,380 shares of the business's stock in a transaction on Monday, March 3rd. The stock was 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 approximately $4,586,123.76. This represents a 5.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 501,087 shares of company stock worth $40,952,233 in the last ninety days. 6.60% of the stock is owned by insiders.

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.

Want to see what other hedge funds are holding SCHW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Charles Schwab Co. (NYSE:SCHW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.