Handelsbanken Fonder AB raised its stake in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 11.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 533,712 shares of the financial services provider's stock after purchasing an additional 52,845 shares during the quarter. Handelsbanken Fonder AB's holdings in Charles Schwab were worth $39,500,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Gladstone Institutional Advisory LLC lifted its holdings in shares of Charles Schwab by 2.0% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 6,247 shares of the financial services provider's stock worth $462,000 after purchasing an additional 124 shares during the period. N.E.W. Advisory Services LLC raised its position in Charles Schwab by 1.7% during the 4th quarter. N.E.W. Advisory Services LLC now owns 7,522 shares of the financial services provider's stock worth $557,000 after buying an additional 125 shares during the last quarter. Klingman & Associates LLC lifted its stake in Charles Schwab by 3.2% during the 4th quarter. Klingman & Associates LLC now owns 4,083 shares of the financial services provider's stock valued at $302,000 after acquiring an additional 125 shares during the period. Stablepoint Partners LLC boosted its holdings in shares of Charles Schwab by 1.1% in the 4th quarter. Stablepoint Partners LLC now owns 12,486 shares of the financial services provider's stock valued at $924,000 after acquiring an additional 141 shares during the last quarter. Finally, Index Fund Advisors Inc. increased its stake in shares of Charles Schwab by 1.6% in the fourth quarter. Index Fund Advisors Inc. now owns 8,847 shares of the financial services provider's stock worth $655,000 after acquiring an additional 143 shares during the period. Hedge funds and other institutional investors own 84.38% of the company's stock.
Insider Activity
In other Charles Schwab news, insider Jonathan S. Beatty sold 2,300 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $82.01, for a total value of $188,623.00. Following the completion of the sale, the insider now owns 18,069 shares in the company, valued at approximately $1,481,838.69. This represents a 11.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Walter W. Bettinger sold 464,629 shares of the business's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total value of $38,057,761.39. Following the transaction, the chairman now owns 827,377 shares in the company, valued at approximately $67,770,450.07. This represents a 35.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 490,120 shares of company stock worth $40,127,472 over the last three months. Insiders own 6.60% of the company's stock.
Charles Schwab Price Performance
Shares of NYSE SCHW traded down $1.33 during trading on Friday, hitting $80.50. The company had a trading volume of 9,855,515 shares, compared to its average volume of 12,402,950. The Charles Schwab Co. has a fifty-two week low of $61.01 and a fifty-two week high of $84.50. 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 stock has a fifty day simple moving average of $77.97 and a two-hundred day simple moving average of $72.83. The firm has a market capitalization of $143.38 billion, a price-to-earnings ratio of 26.92, a price-to-earnings-growth ratio of 0.99 and a beta of 0.99.
Charles Schwab (NYSE:SCHW - Get Free Report) last posted its quarterly earnings data 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 return on equity of 18.20% and a net margin of 30.31%. Charles Schwab's quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.68 EPS. On average, research analysts expect that The Charles Schwab Co. will post 4.22 earnings per share for the current year.
Charles Schwab Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.27 per share. This is a positive change from Charles Schwab's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.34%. Charles Schwab's dividend payout ratio is presently 36.12%.
Analyst Ratings Changes
A number of research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Charles Schwab from $98.00 to $105.00 and gave the company a "buy" rating in a research report on Wednesday, January 22nd. Jefferies Financial Group upped their target price on Charles Schwab from $84.00 to $94.00 and gave the stock a "buy" rating in a research note on Monday, December 9th. Redburn Partners reduced their price target on Charles Schwab from $70.00 to $68.00 and set a "sell" rating for the company in a research report on Friday, January 17th. Truist Financial upped their price objective on Charles Schwab from $90.00 to $91.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Finally, 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. Two analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $86.33.
Read 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.
See Also
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