Martingale Asset Management L P Has $8.17 Million Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Martingale Asset Management L P lifted its stake in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 987.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 110,445 shares of the financial services provider's stock after purchasing an additional 100,290 shares during the period. Martingale Asset Management L P's holdings in Charles Schwab were worth $8,174,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Gladstone Institutional Advisory LLC boosted its position in Charles Schwab by 2.0% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 6,247 shares of the financial services provider's stock worth $462,000 after acquiring an additional 124 shares during the period. N.E.W. Advisory Services LLC increased its stake in Charles Schwab by 1.7% in the 4th quarter. N.E.W. Advisory Services LLC now owns 7,522 shares of the financial services provider's stock valued at $557,000 after buying an additional 125 shares during the period. Klingman & Associates LLC lifted its position in Charles Schwab by 3.2% in the 4th quarter. Klingman & Associates LLC now owns 4,083 shares of the financial services provider's stock worth $302,000 after buying an additional 125 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV boosted its stake in shares of Charles Schwab by 2.7% during the 4th quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 4,763 shares of the financial services provider's stock valued at $353,000 after buying an additional 127 shares during the period. Finally, Personal CFO Solutions LLC grew its holdings in shares of Charles Schwab by 1.2% during the 4th quarter. Personal CFO Solutions LLC now owns 11,236 shares of the financial services provider's stock valued at $832,000 after acquiring an additional 130 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In other news, Chairman Walter W. Bettinger sold 464,629 shares of the firm's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total value of $38,057,761.39. Following the completion of the sale, the chairman now directly owns 827,377 shares in the company, valued at approximately $67,770,450.07. This trade represents a 35.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the company's 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. Insiders sold a total of 513,081 shares of company stock worth $41,903,066 over the last quarter. Company insiders own 6.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SCHW. JMP Securities lowered 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. Piper Sandler lowered their price target on Charles Schwab from $78.00 to $74.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Truist Financial cut their price objective on shares of Charles Schwab from $91.00 to $85.00 and set a "buy" rating on the stock in a research report on Friday, April 4th. Keefe, Bruyette & Woods boosted their target price on shares of Charles Schwab from $81.00 to $93.00 and gave the stock an "outperform" rating in a research report on Friday, December 20th. Finally, JPMorgan Chase & Co. raised their price target on shares of Charles Schwab from $87.00 to $93.00 and gave the company an "overweight" rating in a report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $85.33.

Charles Schwab Stock Performance

NYSE SCHW traded up $0.89 during midday trading on Tuesday, hitting $77.81. The company had a trading volume of 2,815,623 shares, compared to its average volume of 9,257,206. 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 cap of $141.11 billion, a price-to-earnings ratio of 26.02, a P/E/G ratio of 0.99 and a beta of 0.91. The firm has a fifty day simple moving average of $77.67 and a two-hundred day simple moving average of $76.32. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59.

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, beating analysts' consensus estimates of $0.90 by $0.11. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The business had revenue of $5.33 billion for the quarter, compared to analysts' expectations of $5.19 billion. During the same period in the previous year, the business posted $0.68 earnings per share. Charles Schwab's quarterly revenue was up 19.5% on a year-over-year basis. Equities analysts forecast 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. Investors of record on Friday, February 14th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.39%. The ex-dividend date was Friday, February 14th. This is a positive change from Charles Schwab's previous quarterly dividend of $0.25. Charles Schwab's dividend payout ratio is 36.12%.

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.