Prudential PLC raised its holdings in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 38.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 65,487 shares of the financial services provider's stock after acquiring an additional 18,223 shares during the period. Prudential PLC's holdings in Charles Schwab were worth $4,847,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Pitcairn Co. lifted its stake in Charles Schwab by 4.2% during the fourth quarter. Pitcairn Co. now owns 10,331 shares of the financial services provider's stock worth $765,000 after purchasing an additional 421 shares during the last quarter. ExodusPoint Capital Management LP lifted its position in Charles Schwab by 964.5% in the 4th quarter. ExodusPoint Capital Management LP now owns 266,115 shares of the financial services provider's stock worth $19,695,000 after buying an additional 241,115 shares during the last quarter. Arete Wealth Advisors LLC boosted its stake in Charles Schwab by 12.9% in the fourth quarter. Arete Wealth Advisors LLC now owns 5,589 shares of the financial services provider's stock worth $414,000 after buying an additional 640 shares in the last quarter. Motley Fool Asset Management LLC grew its position in Charles Schwab by 13.2% during the fourth quarter. Motley Fool Asset Management LLC now owns 83,316 shares of the financial services provider's stock valued at $6,166,000 after acquiring an additional 9,700 shares during the last quarter. Finally, World Investment Advisors raised its stake in shares of Charles Schwab by 6.6% during the fourth quarter. World Investment Advisors now owns 151,502 shares of the financial services provider's stock worth $11,213,000 after acquiring an additional 9,378 shares in the last quarter. Institutional investors own 84.38% of the company's stock.
Charles Schwab Stock Up 4.2 %
Shares of SCHW stock traded up $3.12 during midday trading on Friday, reaching $76.97. 14,847,290 shares of the stock were exchanged, compared to its average volume of 9,284,845. The Charles Schwab Co. has a 1 year low of $61.01 and a 1 year high of $84.50. The firm has a market cap of $139.59 billion, a PE ratio of 25.74, a price-to-earnings-growth ratio of 0.99 and a beta of 0.91. The company's 50 day moving average is $77.77 and its two-hundred day moving average is $76.14. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59.
Charles Schwab (NYSE:SCHW - Get Free Report) last posted its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the prior year, the company earned $0.68 earnings per share. The firm's quarterly revenue was up 19.5% compared to the same quarter last year. On average, equities research analysts predict that The Charles Schwab Co. will post 4.22 EPS for the current 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 dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.08 annualized dividend and a yield of 1.40%. This is a positive change from Charles Schwab's previous quarterly dividend of $0.25. Charles Schwab's payout ratio is presently 36.12%.
Analyst Ratings Changes
SCHW has been the topic of several recent research reports. Redburn Partners reduced their target price on shares of Charles Schwab from $70.00 to $68.00 and set a "sell" rating on the stock in a report on Friday, January 17th. Piper Sandler reduced their price objective on Charles Schwab from $78.00 to $74.00 and set a "neutral" rating on the stock in a research note on Tuesday. UBS Group boosted their target price on Charles Schwab from $90.00 to $95.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods raised their price target on Charles Schwab from $81.00 to $93.00 and gave the stock an "outperform" rating in a research report on Friday, December 20th. Finally, Truist Financial lowered their price objective on Charles Schwab from $91.00 to $85.00 and set a "buy" rating for the company in a research report on Friday, April 4th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Charles Schwab presently has a consensus rating of "Moderate Buy" and a consensus price target of $85.33.
Read Our Latest Analysis on Charles Schwab
Insider Buying and Selling at Charles Schwab
In other 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 sale, the chairman now directly owns 827,377 shares of the company's stock, valued at approximately $67,770,450.07. This represents a 35.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul V. Woolway sold 9,887 shares of Charles Schwab stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $75.38, for a total value of $745,282.06. Following the completion of the transaction, the insider now directly owns 47,931 shares of the company's stock, valued at approximately $3,613,038.78. This represents a 17.10 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 513,081 shares of company stock valued at $41,903,066. Corporate insiders own 6.60% of the company's stock.
Charles Schwab Company Profile
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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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