Sepio Capital LP lessened its holdings in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 8.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 44,914 shares of the financial services provider's stock after selling 3,886 shares during the quarter. Sepio Capital LP's holdings in Charles Schwab were worth $3,324,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. increased its holdings in Charles Schwab by 0.6% during the third quarter. Principal Financial Group Inc. now owns 6,673,901 shares of the financial services provider's stock worth $432,536,000 after buying an additional 38,201 shares during the last quarter. United Bank lifted its stake in shares of Charles Schwab by 13.0% in the 3rd quarter. United Bank now owns 11,352 shares of the financial services provider's stock valued at $736,000 after acquiring an additional 1,309 shares during the last quarter. Benjamin Edwards Inc. boosted its stake in shares of Charles Schwab by 2,840.7% during the third quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider's stock valued at $398,000 after purchasing an additional 5,937 shares in the last quarter. Worldquant Millennium Advisors LLC acquired a new position in Charles Schwab in the 3rd quarter valued at approximately $24,843,000. Finally, National Bank of Canada FI increased its holdings in Charles Schwab by 52.1% in the third quarter. National Bank of Canada FI now owns 768,714 shares of the financial services provider's stock valued at $49,820,000 after purchasing an additional 263,426 shares during the period. 84.38% of the stock is currently owned by institutional investors.
Insider Activity
In other news, insider Paul V. Woolway sold 3,380 shares of Charles Schwab stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $79.32, for a total value of $268,101.60. Following the completion of the sale, the insider now directly owns 57,818 shares in the company, valued at $4,586,123.76. The trade was a 5.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the stock in a transaction that occurred 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 sold 513,081 shares of company stock worth $41,903,066 over the last three months. 6.60% of the stock is currently owned by corporate insiders.
Charles Schwab Stock Up 2.6 %
Shares of Charles Schwab stock traded up $1.94 during trading on Friday, hitting $75.79. The company's stock had a trading volume of 7,072,121 shares, compared to its average volume of 9,241,284. The Charles Schwab Co. has a 52 week low of $61.01 and a 52 week high of $84.50. The company has a market capitalization of $137.44 billion, a PE ratio of 25.32, a P/E/G ratio of 0.99 and a beta of 0.91. The company has a fifty day simple moving average of $77.87 and a two-hundred day simple moving average of $76.05. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47.
Charles Schwab (NYSE:SCHW - Get Free Report) last announced its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, beating 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 business had revenue of $5.33 billion during the quarter, compared to the consensus estimate 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. Equities research analysts predict that The Charles Schwab Co. will post 4.22 earnings per share for the current year.
Charles Schwab Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $0.27 dividend. 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 dividend yield of 1.43%. The ex-dividend date was Friday, February 14th. Charles Schwab's dividend payout ratio is currently 36.12%.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on the stock. Truist Financial dropped their price objective on shares of Charles Schwab from $91.00 to $85.00 and set a "buy" rating on the stock in a report on Friday, April 4th. Morgan Stanley raised Charles Schwab from an "equal weight" rating to an "overweight" rating and set a $76.00 price target for the company in a research report on Tuesday. Redburn Partners dropped their target price on shares of Charles Schwab from $70.00 to $68.00 and set a "sell" rating on the stock in a research note on Friday, January 17th. Citigroup upgraded Charles Schwab from a "neutral" rating to a "buy" rating and increased their price target for the stock from $85.00 to $102.00 in a research note on Wednesday, April 2nd. Finally, Barclays reduced their price objective on shares of Charles Schwab from $96.00 to $84.00 and set an "overweight" rating for the company in a research note on Monday. Two investment 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's stock. According to data from MarketBeat.com, Charles Schwab has an average rating of "Moderate Buy" and an average price target of $85.33.
Get Our Latest Stock Report on SCHW
Charles Schwab Profile
(
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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