Summitry LLC increased its position in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 1.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,016,139 shares of the financial services provider's stock after buying an additional 10,673 shares during the period. Charles Schwab comprises approximately 3.7% of Summitry LLC's holdings, making the stock its 9th largest holding. Summitry LLC owned about 0.06% of Charles Schwab worth $75,204,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in SCHW. Primecap Management Co. CA boosted its holdings in shares of Charles Schwab by 310.3% in the 4th quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider's stock valued at $314,716,000 after buying an additional 3,216,000 shares in the last quarter. Franklin Resources Inc. lifted its position in Charles Schwab by 15.0% during the third quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider's stock valued at $1,644,674,000 after acquiring an additional 3,157,923 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Charles Schwab in the fourth quarter valued at approximately $189,791,000. Veritas Asset Management LLP purchased a new position in Charles Schwab in the fourth quarter worth $185,649,000. Finally, KBC Group NV increased its position in shares of Charles Schwab by 186.7% during the fourth quarter. KBC Group NV now owns 2,138,033 shares of the financial services provider's stock worth $158,236,000 after purchasing an additional 1,392,255 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other news, Chairman Walter W. Bettinger sold 464,629 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total value of $38,057,761.39. Following the completion of the sale, the chairman now directly owns 827,377 shares in the company, valued at $67,770,450.07. This represents a 35.96 % decrease in their ownership of the stock. The sale was disclosed in a filing 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 dated Wednesday, January 22nd. The stock was 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. In the last three months, insiders have sold 509,701 shares of company stock worth $41,641,353. Insiders own 6.60% of the company's stock.
Charles Schwab Price Performance
Shares of Charles Schwab stock traded down $1.81 on Friday, reaching $77.79. The company's stock had a trading volume of 6,456,732 shares, compared to its average volume of 8,853,143. 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 company has a market capitalization of $141.08 billion, a P/E ratio of 26.02, a PEG ratio of 0.99 and a beta of 0.98. The stock has a 50-day moving average price of $79.55 and a 200-day moving average price of $75.36. The Charles Schwab Co. has a 52-week low of $61.01 and a 52-week high of $84.50.
Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.90 by $0.11. The company had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The firm's revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.68 EPS. Analysts expect that The Charles Schwab Co. will post 4.22 EPS for the current year.
Charles Schwab Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors 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 positive change from Charles Schwab's previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a yield of 1.39%. Charles Schwab's dividend payout ratio (DPR) is currently 36.12%.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on SCHW. Wells Fargo & Company raised Charles Schwab from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $89.00 to $93.00 in a research report on Wednesday, January 22nd. Truist Financial boosted their price target on Charles Schwab from $90.00 to $91.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. JMP Securities restated a "market outperform" rating and set a $94.00 price objective (up previously from $84.00) on shares of Charles Schwab in a report on Monday, December 9th. Redburn Partners decreased their price target on shares of Charles Schwab from $70.00 to $68.00 and set a "sell" rating for the company in a report on Friday, January 17th. Finally, TD Cowen upgraded shares of Charles Schwab from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $88.00 to $103.00 in a research note on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $86.33.
Read Our Latest Stock Report on Charles Schwab
About Charles Schwab
(
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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