Scotia Capital Inc. Purchases 9,415 Shares of The Charles Schwab Co. (NYSE:SCHW)

Scotia Capital Inc. increased its stake in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 13.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 78,361 shares of the financial services provider's stock after purchasing an additional 9,415 shares during the period. Scotia Capital Inc.'s holdings in Charles Schwab were worth $5,800,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Merit Financial Group LLC lifted its stake in Charles Schwab by 230.1% in the fourth quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider's stock valued at $2,483,000 after buying an additional 23,383 shares during the last quarter. Synovus Financial Corp increased its holdings in shares of Charles Schwab by 46.0% in the 3rd quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider's stock worth $4,400,000 after acquiring an additional 21,377 shares during the period. Oregon Pacific Wealth Management LLC bought a new stake in Charles Schwab in the 4th quarter valued at about $688,000. Golden State Equity Partners boosted its stake in Charles Schwab by 293.9% during the 4th quarter. Golden State Equity Partners now owns 12,207 shares of the financial services provider's stock valued at $903,000 after purchasing an additional 9,108 shares during the period. Finally, Asset Management One Co. Ltd. grew its position in Charles Schwab by 7.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 637,957 shares of the financial services provider's stock worth $47,674,000 after purchasing an additional 43,308 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company's stock.

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Insiders Place Their Bets

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 14,643 shares of the business's stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total value of $1,181,690.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul V. Woolway sold 3,380 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $77.43, for a total value of $261,713.40. Following the transaction, the insider now directly owns 45,824 shares in the company, valued at approximately $3,548,152.32. This represents a 6.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 513,081 shares of company stock valued at $41,903,066 over the last ninety days. Corporate insiders own 6.60% of the company's stock.

Charles Schwab Stock Up 0.3 %

Shares of SCHW traded up $0.23 during trading hours on Tuesday, reaching $77.15. The company's stock had a trading volume of 6,920,673 shares, compared to its average volume of 9,252,388. 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 firm has a market cap of $139.92 billion, a price-to-earnings ratio of 25.80, a P/E/G ratio of 0.99 and a beta of 0.91. The company has a 50 day moving average of $77.67 and a two-hundred day moving average of $76.32. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $84.50.

Charles Schwab (NYSE:SCHW - Get Free Report) last released 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 firm had revenue of $5.33 billion during the quarter, compared to analysts' expectations of $5.19 billion. During the same quarter last year, the firm earned $0.68 earnings per share. The business's revenue for the quarter was up 19.5% on a year-over-year basis. As a group, 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 announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from Charles Schwab's previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a yield of 1.40%. Charles Schwab's payout ratio is 36.12%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Piper Sandler reduced their price objective on Charles Schwab from $78.00 to $74.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. 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 research note on Wednesday, January 22nd. Barclays cut their price objective on shares of Charles Schwab from $96.00 to $84.00 and set an "overweight" rating on the stock in a research note on Monday, April 7th. Citigroup upgraded shares of Charles Schwab from a "neutral" rating to a "buy" rating and increased their target price for the company from $85.00 to $102.00 in a research report on Wednesday, April 2nd. Finally, JMP Securities dropped their target price on Charles Schwab from $96.00 to $94.00 and set a "market outperform" rating on the stock in a report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price 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.