Bamco Inc. NY cut its stake in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 0.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,217,828 shares of the financial services provider's stock after selling 51,452 shares during the period. Charles Schwab makes up approximately 1.4% of Bamco Inc. NY's investment portfolio, making the stock its 13th largest holding. Bamco Inc. NY owned about 0.41% of Charles Schwab worth $534,191,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Norges Bank bought a new position in shares of Charles Schwab during the 4th quarter valued at about $1,289,544,000. Kovitz Investment Group Partners LLC boosted its holdings in shares of Charles Schwab by 354.5% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 11,005,881 shares of the financial services provider's stock valued at $814,545,000 after buying an additional 8,584,173 shares during the last quarter. FMR LLC grew its position in shares of Charles Schwab by 69.4% in the 4th quarter. FMR LLC now owns 9,700,013 shares of the financial services provider's stock valued at $717,898,000 after acquiring an additional 3,974,940 shares during the period. 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 purchasing an additional 3,684,640 shares during the period. Finally, Primecap Management Co. CA increased its holdings in shares of Charles Schwab by 310.3% during the 4th 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 during the last quarter. 84.38% of the stock is owned by institutional investors.
Insider Activity at Charles Schwab
In other Charles Schwab news, Chairman Walter W. Bettinger sold 464,629 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frank C. Herringer sold 3,592 shares of the business's 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. Insiders have sold 503,041 shares of company stock worth $41,072,558 over the last ninety days. Insiders own 6.30% of the company's stock.
Charles Schwab Price Performance
Shares of SCHW traded up $1.17 during midday trading on Wednesday, hitting $84.00. The company's stock had a trading volume of 9,393,654 shares, compared to its average volume of 9,383,160. 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 Charles Schwab Co. has a one year low of $61.01 and a one year high of $84.50. The stock has a market capitalization of $152.35 billion, a price-to-earnings ratio of 28.09, a price-to-earnings-growth ratio of 0.99 and a beta of 0.90. The company's fifty day simple moving average is $77.08 and its two-hundred day simple moving average is $77.61.
Charles Schwab (NYSE:SCHW - Get Free Report) last posted its earnings results on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, topping the consensus estimate of $1.01 by $0.03. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The business had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.46 billion. During the same period last year, the company earned $0.74 EPS. As a group, equities analysts expect that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.
Charles Schwab Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 9th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date is Friday, May 9th. Charles Schwab's dividend payout ratio is currently 32.73%.
Wall Street Analyst Weigh In
A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Charles Schwab from $90.00 to $93.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 22nd. The Goldman Sachs Group upgraded shares of Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a research note on Friday, April 25th. Piper Sandler increased their price target on shares of Charles Schwab from $74.00 to $80.00 in a report on Thursday, April 17th. Wells Fargo & Company reduced their price objective on Charles Schwab from $93.00 to $87.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, Barclays lowered their target price 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. Two analysts have rated the stock with a sell rating, three have issued a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $87.22.
Check Out Our Latest Research Report on SCHW
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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