Renaissance Technologies LLC Boosts Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Renaissance Technologies LLC raised its holdings in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 15.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,087,041 shares of the financial services provider's stock after buying an additional 147,852 shares during the period. Renaissance Technologies LLC owned about 0.06% of Charles Schwab worth $80,452,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Murphy & Mullick Capital Management Corp bought a new stake in shares of Charles Schwab in the fourth quarter valued at about $38,000. Atala Financial Inc acquired a new stake in shares of Charles Schwab during the 4th quarter worth approximately $41,000. Knuff & Co LLC boosted its holdings in shares of Charles Schwab by 1,309.3% in the 4th quarter. Knuff & Co LLC now owns 606 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 563 shares in the last quarter. Financial Life Planners bought a new position in Charles Schwab in the fourth quarter valued at about $46,000. Finally, Whipplewood Advisors LLC bought a new stake in shares of Charles Schwab during the 4th quarter valued at approximately $46,000. Institutional investors and hedge funds own 84.38% of the company's stock.

Insider Transactions at Charles Schwab

In other news, Chairman Walter W. Bettinger sold 464,629 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul V. Woolway sold 9,887 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The shares were 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 owns 47,931 shares in the company, valued at approximately $3,613,038.78. The trade was a 17.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 513,081 shares of company stock worth $41,903,066 in the last 90 days. Insiders own 6.60% of the company's stock.

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Charles Schwab Stock Down 0.4 %

Shares of Charles Schwab stock traded down $0.27 on Monday, hitting $76.69. The company had a trading volume of 2,668,768 shares, compared to its average volume of 12,108,526. The Charles Schwab Co. has a 1 year low of $61.01 and a 1 year high of $84.50. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The stock has a 50 day moving average of $77.77 and a 200-day moving average of $76.23. The stock has a market capitalization of $139.08 billion, a price-to-earnings ratio of 25.65, a P/E/G ratio of 0.99 and a beta of 0.91.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $5.19 billion. During the same period last year, the business earned $0.68 EPS. The business's revenue was up 19.5% on a year-over-year basis. As a group, sell-side analysts forecast that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.41%. This is a boost from Charles Schwab's previous quarterly dividend of $0.25. Charles Schwab's dividend payout ratio (DPR) is currently 36.12%.

Wall Street Analysts Forecast Growth

SCHW has been the subject of a number of recent research reports. Piper Sandler lowered their target price on Charles Schwab from $78.00 to $74.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Citigroup upgraded shares of Charles Schwab from a "neutral" rating to a "buy" rating and raised their price objective for the company from $85.00 to $102.00 in a report on Wednesday, April 2nd. Wells Fargo & Company cut their target price on Charles Schwab from $93.00 to $87.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Keefe, Bruyette & Woods boosted their price target on shares of Charles Schwab from $81.00 to $93.00 and gave the stock an "outperform" rating in a research report on Friday, December 20th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Charles Schwab from $98.00 to $105.00 and gave the stock a "buy" rating in a report on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $85.33.

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.