Swedbank AB raised its stake in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 3.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 624,421 shares of the financial services provider's stock after buying an additional 19,160 shares during the period. Swedbank AB's holdings in Charles Schwab were worth $46,213,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of SCHW. Merit Financial Group LLC increased its holdings in shares of Charles Schwab by 230.1% during the 4th quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider's stock valued at $2,483,000 after acquiring an additional 23,383 shares during the last quarter. Benjamin Edwards Inc. raised its position in shares of Charles Schwab by 2,840.7% in 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 during the period. Synovus Financial Corp lifted its stake in shares of Charles Schwab by 46.0% in the third quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider's stock worth $4,400,000 after buying an additional 21,377 shares during the last quarter. Patten & Patten Inc. TN boosted its holdings in shares of Charles Schwab by 155.9% during the 3rd quarter. Patten & Patten Inc. TN now owns 104,168 shares of the financial services provider's stock worth $6,751,000 after buying an additional 63,463 shares during the period. Finally, Equity Investment Corp grew its stake in Charles Schwab by 9.4% in the 3rd quarter. Equity Investment Corp now owns 1,640,157 shares of the financial services provider's stock valued at $106,299,000 after buying an additional 140,643 shares during the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
SCHW has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their price target on shares of Charles Schwab from $67.00 to $74.00 and gave the company a "neutral" rating in a report on Wednesday, October 16th. Jefferies Financial Group upped their price target on Charles Schwab from $84.00 to $94.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Piper Sandler raised their price objective on shares of Charles Schwab from $65.00 to $70.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods upped their target price on shares of Charles Schwab from $81.00 to $93.00 and gave the company an "outperform" rating in a research note on Friday, December 20th. Finally, Bank of America decreased their price target on shares of Charles Schwab from $63.00 to $61.00 and set an "underperform" rating on the stock in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Charles Schwab presently has a consensus rating of "Hold" and a consensus target price of $84.11.
Read Our Latest Stock Analysis on Charles Schwab
Insider Buying and Selling at Charles Schwab
In related news, Director Arun Sarin sold 8,548 shares of the company's stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $81.82, for a total transaction of $699,397.36. Following the sale, the director now owns 18,617 shares in the company, valued at approximately $1,523,242.94. This represents a 31.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jonathan S. Beatty sold 2,500 shares of the business's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $77.02, for a total value of $192,550.00. Following the transaction, the insider now directly owns 18,069 shares in the company, valued at $1,391,674.38. This trade represents a 12.15 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,014 shares of company stock worth $4,052,281. Corporate insiders own 6.60% of the company's stock.
Charles Schwab Stock Up 0.5 %
SCHW stock traded up $0.42 during mid-day trading on Thursday, hitting $82.48. 1,699,392 shares of the company were exchanged, compared to its average volume of 8,807,074. The firm's 50 day simple moving average is $77.89 and its 200 day simple moving average is $71.00. 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 Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $83.35. The firm has a market cap of $146.78 billion, a P/E ratio of 27.58, a P/E/G ratio of 1.46 and a beta of 0.99.
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, topping 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 firm had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same period in the prior year, the business earned $0.68 EPS. The company's revenue for the quarter was up 19.5% compared to the same quarter last year. On average, sell-side analysts predict that The Charles Schwab Co. will post 4.09 EPS for the current fiscal year.
Charles Schwab Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.31%. This is a positive change from Charles Schwab's previous quarterly dividend of $0.25. Charles Schwab's dividend payout ratio (DPR) is currently 33.44%.
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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