Addenda Capital Inc. Has $12.19 Million Holdings in The Charles Schwab Co. (NYSE:SCHW)

Addenda Capital Inc. lifted its position in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 7.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 155,764 shares of the financial services provider's stock after acquiring an additional 10,636 shares during the period. Addenda Capital Inc.'s holdings in Charles Schwab were worth $12,193,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in SCHW. Vanguard Group Inc. lifted its stake in Charles Schwab by 0.9% in the 4th 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 in the last quarter. Geode Capital Management LLC lifted its stake in Charles Schwab by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 30,901,484 shares of the financial services provider's stock valued at $2,279,742,000 after buying an additional 760,043 shares in the last quarter. Fisher Asset Management LLC lifted its stake in Charles Schwab by 1.3% in the 4th 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 buying an additional 265,708 shares in the last quarter. Norges Bank purchased a new position in Charles Schwab in the 4th quarter valued at about $1,289,544,000. Finally, Northern Trust Corp lifted its stake in Charles Schwab by 13.4% in the 4th quarter. Northern Trust Corp now owns 15,739,917 shares of the financial services provider's stock valued at $1,164,911,000 after buying an additional 1,864,286 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SCHW. JMP Securities restated a "market outperform" rating and set a $94.00 price target on shares of Charles Schwab in a report on Monday, April 21st. Citigroup upgraded shares of Charles Schwab from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $85.00 to $102.00 in a research note on Wednesday, April 2nd. Truist Financial increased their price target on shares of Charles Schwab from $84.00 to $97.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Wells Fargo & Company dropped their price target on shares of Charles Schwab from $93.00 to $87.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Charles Schwab from $90.00 to $93.00 and gave the company an "outperform" rating in a research note on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, two have given a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $89.63.

Charles Schwab Trading Down 0.1%

Shares of SCHW traded down $0.11 during midday trading on Tuesday, hitting $88.00. The stock had a trading volume of 6,123,939 shares, compared to its average volume of 9,395,593. The Charles Schwab Co. has a fifty-two week low of $61.01 and a fifty-two week high of $89.85. The business has a 50-day simple moving average of $80.99 and a two-hundred day simple moving average of $79.43. The firm has a market cap of $159.89 billion, a P/E ratio of 29.43, a price-to-earnings-growth ratio of 0.99 and a beta of 0.90. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its quarterly 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. The business had revenue of $5.60 billion during the quarter, compared to analysts' expectations of $5.46 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. During the same period last year, the company posted $0.74 earnings per share. As a group, equities analysts forecast that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend was Friday, May 9th. Charles Schwab's dividend payout ratio (DPR) is currently 32.73%.

Insider Buying and Selling

In other Charles Schwab news, Director Frank C. Herringer sold 3,592 shares of Charles Schwab stock in a transaction on Monday, April 21st. The stock was 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 owns 172,162 shares in the company, valued at approximately $12,784,750.12. The trade was a 2.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul V. Woolway sold 3,290 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $87.68, for a total value of $288,467.20. Following the sale, the insider now directly owns 39,154 shares of the company's stock, valued at $3,433,022.72. This represents a 7.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 107,495 shares of company stock valued at $9,137,323. 6.30% of the stock is owned by company insiders.

About Charles Schwab

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.