Twinbeech Capital LP Takes Position in The Charles Schwab Co. (NYSE:SCHW)

Twinbeech Capital LP acquired a new stake in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,948 shares of the financial services provider's stock, valued at approximately $218,000.

A number of other institutional investors also recently added to or reduced their stakes in SCHW. Norges Bank acquired a new position in shares of Charles Schwab in the 4th quarter worth approximately $1,289,544,000. Kovitz Investment Group Partners LLC lifted its holdings in Charles Schwab by 354.5% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 11,005,881 shares of the financial services provider's stock worth $814,545,000 after buying an additional 8,584,173 shares in the last quarter. FMR LLC lifted its holdings in Charles Schwab by 69.4% during the 4th quarter. FMR LLC now owns 9,700,013 shares of the financial services provider's stock worth $717,898,000 after buying an additional 3,974,940 shares in the last quarter. Marshall Wace LLP lifted its holdings in Charles Schwab by 742.0% during the 4th quarter. Marshall Wace LLP now owns 4,181,202 shares of the financial services provider's stock worth $309,451,000 after buying an additional 3,684,640 shares in the last quarter. Finally, Primecap Management Co. CA lifted its holdings in 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 buying an additional 3,216,000 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 10,176 shares of the firm's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $87.39, for a total value of $889,280.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul V. Woolway sold 9,887 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $75.38, for a total value of $745,282.06. Following the completion of the sale, the insider now directly owns 47,931 shares in the company, valued at approximately $3,613,038.78. This represents a 17.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 96,088 shares of company stock worth $8,105,928 over the last 90 days. Corporate insiders own 6.30% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on SCHW. Morgan Stanley upped their target price on shares of Charles Schwab from $76.00 to $83.00 and gave the company an "overweight" rating in a research report on Tuesday, May 13th. Keefe, Bruyette & Woods upped their price objective on shares of Charles Schwab from $90.00 to $93.00 and gave the company an "outperform" rating in a research report on Tuesday, April 22nd. Wells Fargo & Company lowered their price objective 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. Truist Financial upped their price objective 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. Finally, Piper Sandler increased their price objective on shares of Charles Schwab from $74.00 to $80.00 in a research note on Thursday, April 17th. 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 company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $89.63.

Charles Schwab Price Performance

SCHW stock traded down $0.70 during midday trading on Thursday, reaching $87.35. 2,267,517 shares of the stock were exchanged, compared to its average volume of 9,344,205. The company has a fifty day moving average price of $80.53 and a 200 day moving average price of $79.24. The Charles Schwab Co. has a 52 week low of $61.01 and a 52 week high of $89.85. The stock has a market capitalization of $158.72 billion, a PE ratio of 29.21, a P/E/G ratio of 0.99 and a beta of 0.90. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, topping analysts' consensus estimates of $1.01 by $0.03. The business had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.46 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. During the same period in the prior year, the business earned $0.74 EPS. As a group, analysts expect that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.08 dividend on an annualized basis and a yield of 1.24%. Charles Schwab's payout ratio is 32.73%.

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.