Primecap Management Co. CA Increases Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Primecap Management Co. CA boosted its stake in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 310.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,252,350 shares of the financial services provider's stock after purchasing an additional 3,216,000 shares during the period. Primecap Management Co. CA owned 0.24% of Charles Schwab worth $314,716,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. State Street Corp increased its position in Charles Schwab by 0.7% during the 3rd quarter. State Street Corp now owns 62,076,447 shares of the financial services provider's stock worth $4,023,175,000 after buying an additional 414,949 shares during the period. Geode Capital Management LLC grew its stake in shares of Charles Schwab by 1.5% in the third quarter. Geode Capital Management LLC now owns 30,141,441 shares of the financial services provider's stock valued at $1,945,614,000 after acquiring an additional 445,304 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Charles Schwab by 6.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider's stock worth $1,858,706,000 after purchasing an additional 1,711,312 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Charles Schwab by 15.0% in the 3rd quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider's stock valued at $1,644,674,000 after purchasing an additional 3,157,923 shares during the period. Finally, Fisher Asset Management LLC grew its position in shares of Charles Schwab by 1.3% during the 4th quarter. Fisher Asset Management LLC now owns 20,455,266 shares of the financial services provider's stock worth $1,513,894,000 after purchasing an additional 265,708 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

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Wall Street Analyst Weigh In

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

Charles Schwab Trading Down 0.1 %

NYSE SCHW traded down $0.11 during mid-day trading on Friday, reaching $78.47. 11,842,111 shares of the stock were exchanged, compared to its average volume of 8,453,644. 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 stock has a market cap of $142.30 billion, a P/E ratio of 26.24, a P/E/G ratio of 0.99 and a beta of 0.98. The stock has a 50 day simple moving average of $78.88 and a 200-day simple moving average of $74.63. The Charles Schwab Co. has a one year low of $61.01 and a one year high of $84.50.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced 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 company had revenue of $5.33 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the previous year, the business earned $0.68 EPS. The firm's revenue was up 19.5% compared to the same quarter last year. On average, analysts anticipate that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders 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 dividend yield of 1.38%. This is a positive change from Charles Schwab's previous quarterly dividend of $0.25. Charles Schwab's payout ratio is currently 36.12%.

Insider Activity at Charles Schwab

In related news, Chairman Walter W. Bettinger sold 464,629 shares of the 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 transaction, the chairman now directly owns 827,377 shares in the company, valued at $67,770,450.07. This trade represents a 35.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the business's stock in a transaction on Wednesday, January 22nd. The shares were 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 have sold 501,087 shares of company stock worth $40,952,233 in the last quarter. Company insiders own 6.60% of the company's stock.

Charles Schwab 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.