Price T Rowe Associates Inc. MD lessened its stake in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 16.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,094,736 shares of the financial services provider's stock after selling 14,719,244 shares during the quarter. Charles Schwab comprises approximately 0.6% of Price T Rowe Associates Inc. MD's portfolio, making the stock its 20th biggest position. Price T Rowe Associates Inc. MD owned about 4.11% of Charles Schwab worth $5,409,742,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Charles Schwab in the fourth quarter valued at about $1,289,544,000. FMR LLC boosted its stake in shares of Charles Schwab by 69.4% in the fourth quarter. FMR LLC now owns 9,700,013 shares of the financial services provider's stock valued at $717,898,000 after buying an additional 3,974,940 shares in the last quarter. Marshall Wace LLP grew its holdings in Charles Schwab by 742.0% during the fourth quarter. Marshall Wace LLP now owns 4,181,202 shares of the financial services provider's stock worth $309,451,000 after acquiring an additional 3,684,640 shares during the period. Primecap Management Co. CA raised its position in Charles Schwab by 310.3% in the fourth quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider's stock worth $314,716,000 after acquiring an additional 3,216,000 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in Charles Schwab by 15.0% in 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 period. 84.38% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on the stock. Citigroup raised shares of Charles Schwab from a "neutral" rating to a "buy" rating and upped their price target for the stock from $85.00 to $102.00 in a research note on Wednesday, April 2nd. Deutsche Bank Aktiengesellschaft increased their target price on shares of Charles Schwab from $98.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. Barclays decreased their price target on Charles Schwab from $96.00 to $84.00 and set an "overweight" rating on the stock in a research note on Monday, April 7th. JMP Securities reaffirmed a "market outperform" rating and issued a $94.00 price objective on shares of Charles Schwab in a research note on Monday. Finally, Wells Fargo & Company decreased their target price on Charles Schwab from $93.00 to $87.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $85.78.
Read Our Latest Stock Analysis on Charles Schwab
Charles Schwab Stock Up 2.2 %
Shares of NYSE SCHW opened at $76.60 on Wednesday. The firm's 50 day moving average price is $76.91 and its 200 day moving average price is $76.74. 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 firm has a market cap of $138.92 billion, a P/E ratio of 25.62, a price-to-earnings-growth ratio of 0.99 and a beta of 0.91. The Charles Schwab Co. has a 1 year low of $61.01 and a 1 year high of $84.50.
Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $1.01 by $0.03. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The business had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.46 billion. During the same quarter in the previous year, the business earned $0.74 earnings per share. As a group, sell-side analysts anticipate that The Charles Schwab Co. will post 4.22 earnings per share for the current year.
Charles Schwab Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a dividend of $0.27 per share. This is a positive change from Charles Schwab's previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 1.41%. The ex-dividend date was Friday, February 14th. Charles Schwab's dividend payout ratio is presently 36.12%.
Insider Buying and Selling
In other Charles Schwab 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 completion of the sale, the director now directly owns 18,617 shares in the company, valued at $1,523,242.94. This represents a 31.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Frank C. Herringer sold 3,592 shares of Charles Schwab stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $74.26, for a total value of $266,741.92. Following the completion of the transaction, the director now directly owns 172,162 shares in the company, valued at $12,784,750.12. This represents a 2.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 502,030 shares of company stock valued at $40,988,118. Insiders own 6.30% of the company's stock.
Charles Schwab Profile
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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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