North Peak Capital Management LLC trimmed its holdings in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 2.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,857,896 shares of the financial services provider's stock after selling 39,259 shares during the period. Charles Schwab comprises 18.2% of North Peak Capital Management LLC's holdings, making the stock its 2nd largest position. North Peak Capital Management LLC owned approximately 0.10% of Charles Schwab worth $137,503,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Charles Schwab by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 128,578,230 shares of the financial services provider's stock worth $9,516,075,000 after purchasing an additional 1,187,384 shares during the last quarter. Geode Capital Management LLC increased its position in Charles Schwab by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 30,901,484 shares of the financial services provider's stock worth $2,279,742,000 after buying an additional 760,043 shares during the last quarter. Franklin Resources Inc. raised its stake in 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 during the period. Fisher Asset Management LLC lifted its position in shares of 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 buying an additional 265,708 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Charles Schwab during the 4th quarter worth approximately $1,289,544,000. Institutional investors and hedge funds own 84.38% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on the stock. Truist Financial dropped their price objective on shares of Charles Schwab from $85.00 to $84.00 and set a "buy" rating on the stock in a research report on Monday. JMP Securities restated a "market outperform" rating and set a $94.00 price objective on shares of Charles Schwab in a research report on Monday. JPMorgan Chase & Co. boosted their price objective on Charles Schwab from $92.00 to $95.00 and gave the stock an "overweight" rating in a report on Monday. Morgan Stanley upgraded Charles Schwab from an "equal weight" rating to an "overweight" rating and set a $76.00 target price on the stock in a research note on Tuesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Charles Schwab from $98.00 to $105.00 and gave the company a "buy" rating in a research note on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Charles Schwab has an average rating of "Moderate Buy" and an average price target of $85.78.
Check Out Our Latest Research Report on SCHW
Insider Buying and Selling at Charles Schwab
In related news, Director Frank C. Herringer sold 3,592 shares of the business's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $74.26, for a total transaction of $266,741.92. Following the sale, the director now owns 172,162 shares in the company, valued at $12,784,750.12. The trade was a 2.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Walter W. Bettinger sold 464,629 shares of the stock in a transaction dated 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 completion of the transaction, the chairman now 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 have sold a total of 502,030 shares of company stock worth $40,988,118 over the last 90 days. Insiders own 6.30% of the company's stock.
Charles Schwab Price Performance
Shares of NYSE:SCHW traded up $1.29 during midday trading on Wednesday, hitting $77.87. The stock had a trading volume of 9,826,007 shares, compared to its average volume of 9,319,699. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $141.22 billion, a P/E ratio of 26.04, a price-to-earnings-growth ratio of 0.99 and a beta of 0.91. The company's 50-day moving average price is $76.91 and its 200-day moving average price is $76.74. The Charles Schwab Co. has a fifty-two week low of $61.01 and a fifty-two week high of $84.50.
Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, beating the consensus estimate of $1.01 by $0.03. The business had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.46 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. During the same period in the previous year, the business earned $0.74 earnings per share. As a group, equities research analysts predict that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.
Charles Schwab Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a $0.27 dividend. The ex-dividend date 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 1.39%. Charles Schwab's dividend payout ratio (DPR) is 36.12%.
About Charles Schwab
(
Free Report)
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.
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