Freestone Grove Partners LP purchased a new position in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 339,286 shares of the financial services provider's stock, valued at approximately $25,111,000.
Other hedge funds have also made changes to their positions in the company. Merit Financial Group LLC increased its position in Charles Schwab by 230.1% during the 4th quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider's stock worth $2,483,000 after purchasing an additional 23,383 shares in the last quarter. Synovus Financial Corp increased its position in shares of Charles Schwab by 46.0% in the third quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider's stock worth $4,400,000 after acquiring an additional 21,377 shares in the last quarter. Oregon Pacific Wealth Management LLC purchased a new position in shares of Charles Schwab in the 4th quarter valued at $688,000. Golden State Equity Partners lifted its holdings in shares of Charles Schwab by 293.9% during the 4th quarter. Golden State Equity Partners now owns 12,207 shares of the financial services provider's stock valued at $903,000 after acquiring an additional 9,108 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its holdings in shares of Charles Schwab by 7.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 637,957 shares of the financial services provider's stock valued at $47,674,000 after acquiring an additional 43,308 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company's stock.
Wall Street Analysts Forecast Growth
SCHW has been the topic of a number of recent research reports. Redburn Partners reduced their price objective on Charles Schwab from $70.00 to $68.00 and set a "sell" rating on the stock in a research note on Friday, January 17th. The Goldman Sachs Group upgraded Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 price target for the company in a report on Friday, April 25th. Citigroup raised shares of Charles Schwab from a "neutral" rating to a "buy" rating and increased their price objective for the company from $85.00 to $102.00 in a research report on Wednesday, April 2nd. Barclays reduced their target price on shares of Charles Schwab from $96.00 to $84.00 and set an "overweight" rating on the stock in a research report on Monday, April 7th. Finally, Truist Financial lowered their price target on shares of Charles Schwab from $85.00 to $84.00 and set a "buy" rating for the company in a report on Monday, April 21st. Two research 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. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $87.22.
Read Our Latest Stock Analysis on Charles Schwab
Charles Schwab Stock Performance
Charles Schwab stock traded up $0.24 during mid-day trading on Monday, hitting $83.35. 5,242,597 shares of the company's stock traded hands, compared to its average volume of 9,371,475. 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 firm has a 50 day moving average price of $76.90 and a 200 day moving average price of $77.49. The company has a market cap of $151.16 billion, a PE ratio of 27.88, a price-to-earnings-growth ratio of 0.99 and a beta of 0.90.
Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.01 by $0.03. The business had revenue of $5.60 billion for 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 in the previous year, the business earned $0.74 earnings per share. On average, equities analysts forecast that The Charles Schwab Co. will post 4.22 EPS for the current year.
Charles Schwab Dividend Announcement
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 dividend of $0.27 per share. The ex-dividend date is Friday, May 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.30%. Charles Schwab's dividend payout ratio is presently 32.73%.
Insider Buying and Selling
In other Charles Schwab news, Chairman Walter W. Bettinger sold 464,629 shares of the company's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total value of $38,057,761.39. Following the completion of the sale, the chairman now directly owns 827,377 shares of the company's stock, valued at approximately $67,770,450.07. This represents a 35.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frank C. Herringer sold 3,592 shares of Charles Schwab stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $74.26, for a total transaction 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 503,041 shares of company stock valued at $41,072,558 over the last quarter. Corporate insiders own 6.30% of the company's stock.
About Charles Schwab
(
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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