OFI Invest Asset Management Purchases New Stake in The Charles Schwab Co. (NYSE:SCHW)

OFI Invest Asset Management purchased a new stake in The Charles Schwab Co. (NYSE:SCHW - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 27,683 shares of the financial services provider's stock, valued at approximately $1,979,000.

Several other hedge funds have also recently bought and sold shares of the stock. Gladstone Institutional Advisory LLC raised its holdings 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 buying an additional 124 shares during the period. N.E.W. Advisory Services LLC raised its holdings in Charles Schwab by 1.7% during the 4th quarter. N.E.W. Advisory Services LLC now owns 7,522 shares of the financial services provider's stock worth $557,000 after buying an additional 125 shares during the period. Klingman & Associates LLC raised its holdings in Charles Schwab by 3.2% during 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 during the period. Investors Asset Management of Georgia Inc. GA ADV raised its holdings in 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 worth $353,000 after buying an additional 127 shares during the period. Finally, Personal CFO Solutions LLC raised its holdings in 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 worth $832,000 after buying an additional 130 shares during the period. 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 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 completion of the sale, the chairman now owns 827,377 shares of the company's stock, valued at approximately $67,770,450.07. This trade represents a 35.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul V. Woolway sold 3,380 shares of Charles Schwab stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $79.32, for a total value of $268,101.60. Following the sale, the insider now directly 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 disclosure for this sale can be found here. Insiders sold a total of 501,087 shares of company stock valued at $40,952,233 over the last ninety days. 6.60% of the stock is currently owned by company insiders.

Charles Schwab Stock Up 2.5 %

Shares of NYSE:SCHW traded up $1.82 during midday trading on Wednesday, hitting $74.29. The stock had a trading volume of 11,310,499 shares, compared to its average volume of 12,262,797. 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 business's 50-day simple moving average is $78.42 and its 200-day simple moving average is $74.16. The Charles Schwab Co. has a 12 month low of $61.01 and a 12 month high of $84.50. The company has a market cap of $134.72 billion, a P/E ratio of 24.84, 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 EPS for the quarter, topping analysts' consensus estimates of $0.90 by $0.11. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The firm had revenue of $5.33 billion during 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. The company's revenue for the quarter was up 19.5% compared to the same quarter last year. On average, sell-side analysts forecast 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 disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.45%. This is a boost 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 36.12%.

Analysts Set New Price Targets

SCHW has been the topic of several research analyst reports. JMP Securities restated a "market outperform" rating and set a $94.00 target price (up from $84.00) on shares of Charles Schwab in a report on Monday, December 9th. UBS Group raised their target price on shares of Charles Schwab from $90.00 to $95.00 and gave the stock a "buy" rating in a report on Monday, January 27th. Barclays raised their price target on shares of Charles Schwab from $95.00 to $96.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 22nd. Keefe, Bruyette & Woods raised their price target on shares of Charles Schwab from $81.00 to $93.00 and gave the stock an "outperform" rating in a research note on Friday, December 20th. Finally, Jefferies Financial Group raised their price target on shares of Charles Schwab from $84.00 to $94.00 and gave the stock a "buy" rating in a research note on Monday, December 9th. Two 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price 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.