NEOS Investment Management LLC Acquires 21,152 Shares of The Charles Schwab Co. (NYSE:SCHW)

NEOS Investment Management LLC boosted its stake in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 31.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 88,576 shares of the financial services provider's stock after purchasing an additional 21,152 shares during the period. NEOS Investment Management LLC's holdings in Charles Schwab were worth $6,556,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Charles Schwab by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 128,578,230 shares of the financial services provider's stock valued at $9,516,075,000 after buying an additional 1,187,384 shares during the last quarter. State Street Corp raised its stake in shares of Charles Schwab by 0.7% during the third quarter. State Street Corp now owns 62,076,447 shares of the financial services provider's stock valued at $4,023,175,000 after acquiring an additional 414,949 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Charles Schwab by 1.5% during the third quarter. Geode Capital Management LLC now owns 30,141,441 shares of the financial services provider's stock worth $1,945,614,000 after purchasing an additional 445,304 shares during the period. Franklin Resources Inc. grew 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 worth $1,644,674,000 after purchasing an additional 3,157,923 shares during the last quarter. Finally, Fisher Asset Management LLC increased its holdings in Charles Schwab by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 20,455,266 shares of the financial services provider's stock valued at $1,513,894,000 after purchasing an additional 265,708 shares during the period. Institutional investors and hedge funds own 84.38% of the company's stock.

Remove Ads

Charles Schwab Stock Performance

Shares of SCHW traded up $0.77 during trading hours on Monday, hitting $78.58. The company's stock had a trading volume of 3,884,153 shares, compared to its average volume of 8,834,266. The business has a 50 day simple moving average of $79.55 and a two-hundred day simple moving average of $75.45. The Charles Schwab Co. has a 52-week low of $61.01 and a 52-week high of $84.50. 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 company has a market cap of $142.50 billion, a price-to-earnings ratio of 26.22, a PEG 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 for the quarter, beating analysts' consensus estimates of $0.90 by $0.11. The business 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 in the previous year, the business earned $0.68 EPS. On average, equities analysts expect 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 announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a $0.27 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.08 annualized dividend and a yield of 1.37%. This is an increase from Charles Schwab's previous quarterly dividend of $0.25. Charles Schwab's dividend payout ratio (DPR) is currently 36.12%.

Insider Buying and Selling at Charles Schwab

In other news, insider Paul V. Woolway sold 3,380 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $79.32, for a total value of $268,101.60. Following the transaction, the insider now 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 filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Walter W. Bettinger sold 464,629 shares of Charles Schwab stock in a transaction on 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 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. Insiders sold 509,701 shares of company stock valued at $41,641,353 in the last quarter. 6.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Citigroup upped their price target on Charles Schwab from $80.00 to $85.00 and gave the company a "neutral" rating in a research report on Wednesday, January 22nd. Barclays boosted their price objective on Charles Schwab from $95.00 to $96.00 and gave the company an "overweight" rating in a research note on Wednesday, January 22nd. TD Cowen raised shares of Charles Schwab from a "hold" rating to a "buy" rating and raised their price objective for the stock from $88.00 to $103.00 in a research report on Tuesday, February 18th. Wells Fargo & Company upgraded shares of Charles Schwab from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $89.00 to $93.00 in a research report on Wednesday, January 22nd. Finally, Piper Sandler upped their price objective on shares of Charles Schwab from $65.00 to $70.00 and gave the company a "neutral" rating in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $86.33.

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.