Magnetar Financial LLC Invests $241,000 in The Charles Schwab Co. (NYSE:SCHW)

Magnetar Financial LLC acquired a new stake in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,250 shares of the financial services provider's stock, valued at approximately $241,000.

Several other institutional investors have also bought and sold shares of SCHW. Teacher Retirement System of Texas lifted its holdings in shares of Charles Schwab by 833.4% in the fourth quarter. Teacher Retirement System of Texas now owns 94,412 shares of the financial services provider's stock valued at $6,987,000 after buying an additional 84,297 shares during the period. Royal London Asset Management Ltd. boosted its position in shares of Charles Schwab by 0.3% during the 4th quarter. Royal London Asset Management Ltd. now owns 1,186,342 shares of the financial services provider's stock valued at $87,801,000 after purchasing an additional 3,434 shares in the last quarter. GM Advisory Group LLC grew its stake in shares of Charles Schwab by 3.8% in the 4th quarter. GM Advisory Group LLC now owns 20,736 shares of the financial services provider's stock worth $1,535,000 after purchasing an additional 750 shares during the last quarter. Harvest Fund Management Co. Ltd raised its holdings in shares of Charles Schwab by 140,050.0% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 5,606 shares of the financial services provider's stock worth $415,000 after purchasing an additional 5,602 shares in the last quarter. Finally, Vinva Investment Management Ltd boosted its holdings in Charles Schwab by 55.7% during the fourth quarter. Vinva Investment Management Ltd now owns 72,932 shares of the financial services provider's stock worth $5,392,000 after buying an additional 26,104 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company's stock.

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Insider Activity

In other Charles Schwab news, insider Paul V. Woolway sold 3,380 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $79.32, for a total transaction of $268,101.60. Following the sale, the insider now directly owns 57,818 shares of the company's stock, valued at approximately $4,586,123.76. This represents a 5.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Walter W. Bettinger sold 464,629 shares of the firm's stock in a transaction on 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 sale, the chairman now directly owns 827,377 shares of the company's stock, valued at $67,770,450.07. This represents a 35.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 501,087 shares of company stock worth $40,952,233. Company insiders own 6.60% of the company's stock.

Charles Schwab Stock Performance

Shares of Charles Schwab stock traded up $0.72 during midday trading on Tuesday, hitting $80.68. The company had a trading volume of 3,031,002 shares, compared to its average volume of 8,442,138. The stock has a market cap of $146.32 billion, a PE ratio of 26.98, a P/E/G ratio of 0.99 and a beta of 0.98. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $84.50. The business's 50 day simple moving average is $79.14 and its two-hundred day simple moving average is $74.98. 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 quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (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 analyst estimates of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The business's revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.68 EPS. As a group, equities analysts predict that The Charles Schwab Co. will post 4.22 EPS 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 issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.34%. This is an increase from Charles Schwab's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 14th. Charles Schwab's payout ratio is presently 36.12%.

Analysts Set New Price Targets

SCHW has been the topic of several research reports. Morgan Stanley upped their price target on Charles Schwab from $84.00 to $91.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Wells Fargo & Company upgraded Charles Schwab from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $89.00 to $93.00 in a report on Wednesday, January 22nd. Piper Sandler raised their target price on Charles Schwab from $65.00 to $70.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 7th. UBS Group increased their price target on shares of Charles Schwab from $90.00 to $95.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Finally, Truist Financial boosted their price objective on shares of Charles Schwab from $90.00 to $91.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $86.33.

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.