Titan Global Capital Management USA LLC decreased its holdings in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 2.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 284,974 shares of the financial services provider's stock after selling 7,955 shares during the quarter. Charles Schwab comprises about 3.2% of Titan Global Capital Management USA LLC's portfolio, making the stock its 15th biggest position. Titan Global Capital Management USA LLC's holdings in Charles Schwab were worth $21,091,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in SCHW. Vanguard Group Inc. boosted its position in Charles Schwab by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 128,578,230 shares of the financial services provider's stock valued at $9,516,075,000 after buying an additional 1,187,384 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Charles Schwab by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 30,901,484 shares of the financial services provider's stock worth $2,279,742,000 after acquiring an additional 760,043 shares during the period. Franklin Resources Inc. raised its holdings in shares of 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 worth $1,644,674,000 after purchasing an additional 3,157,923 shares during the last quarter. Fisher Asset Management LLC lifted its position in Charles Schwab by 1.3% during the fourth quarter. Fisher Asset Management LLC now owns 20,455,266 shares of the financial services provider's stock valued at $1,513,894,000 after purchasing an additional 265,708 shares during the period. Finally, Norges Bank purchased a new stake in Charles Schwab in the fourth quarter valued at $1,289,544,000. 84.38% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Charles Schwab
In other Charles Schwab news, Chairman Walter W. Bettinger sold 464,629 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul V. Woolway sold 3,380 shares of the company's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $77.43, for a total value of $261,713.40. Following the sale, the insider now directly owns 45,824 shares in the company, valued at $3,548,152.32. This represents a 6.87 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 513,081 shares of company stock worth $41,903,066. Insiders own 6.60% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on the company. Truist Financial decreased their price objective on Charles Schwab from $91.00 to $85.00 and set a "buy" rating for the company in a report on Friday, April 4th. UBS Group boosted their target price on shares of Charles Schwab from $90.00 to $95.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods lifted their price objective on shares of Charles Schwab from $81.00 to $93.00 and gave the company an "outperform" rating in a report on Friday, December 20th. Piper Sandler lowered their target price on shares of Charles Schwab from $78.00 to $74.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Finally, JPMorgan Chase & Co. lifted their price target on Charles Schwab from $87.00 to $93.00 and gave the company an "overweight" rating in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $85.33.
Read Our Latest Research Report on SCHW
Charles Schwab Trading Up 0.3 %
Shares of SCHW traded up $0.23 during midday trading on Tuesday, reaching $77.15. The company had a trading volume of 6,919,637 shares, compared to its average volume of 9,272,877. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year 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 firm has a 50 day simple moving average of $77.67 and a 200-day simple moving average of $76.32. The stock has a market cap of $139.92 billion, a PE ratio of 25.80, a price-to-earnings-growth ratio of 0.99 and a beta of 0.91.
Charles Schwab (NYSE:SCHW - Get Free Report) last issued its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, topping analysts' consensus estimates of $0.90 by $0.11. The company had revenue of $5.33 billion for the quarter, compared to the consensus estimate of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. Charles Schwab's quarterly revenue was up 19.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.68 earnings per share. Research analysts forecast that The Charles Schwab Co. will post 4.22 EPS for the current fiscal 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 $0.27 dividend. 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 1.40%. The ex-dividend date was Friday, February 14th. Charles Schwab's dividend payout ratio is currently 36.12%.
Charles Schwab Company 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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