Fiduciary Management Inc. WI lessened its position in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 5.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,780,518 shares of the financial services provider's stock after selling 252,349 shares during the quarter. Charles Schwab makes up about 3.3% of Fiduciary Management Inc. WI's holdings, making the stock its 5th largest position. Fiduciary Management Inc. WI owned about 0.27% of Charles Schwab worth $353,806,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. lifted its stake in shares of 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 valued at $432,536,000 after buying an additional 38,201 shares during the period. Anchor Investment Management LLC lifted its stake in shares of Charles Schwab by 11.2% during the 3rd quarter. Anchor Investment Management LLC now owns 36,229 shares of the financial services provider's stock worth $2,348,000 after purchasing an additional 3,637 shares during the period. Sculati Wealth Management LLC boosted its holdings in shares of Charles Schwab by 0.7% during the third quarter. Sculati Wealth Management LLC now owns 42,988 shares of the financial services provider's stock worth $2,786,000 after purchasing an additional 315 shares during the last quarter. World Investment Advisors LLC acquired a new position in Charles Schwab in the third quarter valued at $9,211,000. Finally, Sfmg LLC lifted its position in Charles Schwab by 2.5% during the third quarter. Sfmg LLC now owns 58,542 shares of the financial services provider's stock worth $3,794,000 after buying an additional 1,444 shares during the period. 84.38% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research firms have commented on SCHW. JPMorgan Chase & Co. lifted their price target on Charles Schwab from $92.00 to $95.00 and gave the company an "overweight" rating in a report on Monday. Piper Sandler upped their price target on shares of Charles Schwab from $74.00 to $80.00 in a research report on Thursday, April 17th. UBS Group lifted their price target on shares of Charles Schwab from $95.00 to $96.00 and gave the company a "buy" rating in a report on Tuesday. JMP Securities reaffirmed a "market outperform" rating and issued a $94.00 target price on shares of Charles Schwab in a research report on Monday. Finally, Barclays lowered their price target on Charles Schwab from $96.00 to $84.00 and set an "overweight" rating for the company in a research report on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Charles Schwab currently has an average rating of "Moderate Buy" and an average target price of $85.78.
Check Out Our Latest Stock Report on SCHW
Insider Buying and Selling at Charles Schwab
In other news, Director Frank C. Herringer sold 3,592 shares of the company's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $74.26, for a total transaction of $266,741.92. Following the completion of the transaction, the director now directly owns 172,162 shares of the company's stock, valued at approximately $12,784,750.12. This represents a 2.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Walter W. Bettinger sold 464,629 shares of the firm'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 completion of the sale, the chairman now directly owns 827,377 shares in the company, valued at approximately $67,770,450.07. This trade represents a 35.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 493,482 shares of company stock worth $40,288,720 over the last 90 days. Insiders own 6.30% of the company's stock.
Charles Schwab Stock Up 1.8 %
Shares of SCHW traded up $1.38 during trading on Thursday, reaching $79.23. The company's stock had a trading volume of 3,398,085 shares, compared to its average volume of 12,046,140. The Charles Schwab Co. has a twelve month low of $61.01 and a twelve month 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 company has a market cap of $143.69 billion, a price-to-earnings ratio of 26.51, a P/E/G ratio of 0.99 and a beta of 0.91. The company has a fifty day moving average of $76.87 and a two-hundred day moving average of $76.75.
Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.03. The firm had revenue of $5.60 billion for the quarter, compared to analysts' expectations of $5.46 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. During the same quarter in the prior year, the firm posted $0.74 earnings per share. On average, sell-side 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 disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date was Friday, February 14th. This is an increase from Charles Schwab's previous quarterly dividend of $0.25. Charles Schwab's payout ratio is currently 32.73%.
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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