Kovitz Investment Group Partners LLC Buys 8,584,173 Shares of The Charles Schwab Co. (NYSE:SCHW)

Kovitz Investment Group Partners LLC grew its holdings in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 354.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 11,005,881 shares of the financial services provider's stock after acquiring an additional 8,584,173 shares during the quarter. Charles Schwab comprises 2.7% of Kovitz Investment Group Partners LLC's investment portfolio, making the stock its 5th biggest holding. Kovitz Investment Group Partners LLC owned about 0.62% of Charles Schwab worth $814,545,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Charles Schwab by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 128,578,230 shares of the financial services provider's stock worth $9,516,075,000 after purchasing an additional 1,187,384 shares during the last quarter. Geode Capital Management LLC lifted its holdings 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 valued at $2,279,742,000 after purchasing an additional 760,043 shares in the last quarter. Franklin Resources Inc. raised its stake in Charles Schwab by 15.0% in the 3rd quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider's stock valued at $1,644,674,000 after purchasing an additional 3,157,923 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of 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 buying an additional 265,708 shares during the period. Finally, Norges Bank purchased a new stake in shares of Charles Schwab in the fourth quarter valued at $1,289,544,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Truist Financial decreased their target price on Charles Schwab from $85.00 to $84.00 and set a "buy" rating for the company in a report on Monday, April 21st. UBS Group upped their price target on Charles Schwab from $95.00 to $96.00 and gave the company a "buy" rating in a research report on Tuesday, April 22nd. Keefe, Bruyette & Woods increased their price objective on shares of Charles Schwab from $90.00 to $93.00 and gave the stock an "outperform" rating in a report on Tuesday, April 22nd. Piper Sandler increased their price target on Charles Schwab from $74.00 to $80.00 in a research note on Thursday, April 17th. Finally, Morgan Stanley upgraded Charles Schwab from an "equal weight" rating to an "overweight" rating and set a $76.00 price objective for the company in a research report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Charles Schwab has a consensus rating of "Moderate Buy" and a consensus target price of $87.22.

Insiders Place Their Bets

In related news, insider Paul V. Woolway sold 3,380 shares of Charles Schwab stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $79.32, for a total transaction of $268,101.60. Following the transaction, the insider now directly owns 57,818 shares in the company, valued at approximately $4,586,123.76. The trade was a 5.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Walter W. Bettinger sold 464,629 shares of Charles Schwab stock in a transaction that occurred on 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 sale, the chairman now directly owns 827,377 shares in the company, valued at $67,770,450.07. This trade represents a 35.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 493,482 shares of company stock valued at $40,288,720 over the last quarter. 6.30% of the stock is owned by corporate insiders.

Charles Schwab Stock Down 0.9 %

Shares of NYSE SCHW traded down $0.76 during mid-day trading on Wednesday, reaching $80.50. 1,990,028 shares of the company's stock traded hands, compared to its average volume of 9,318,438. The stock has a market cap of $145.99 billion, a P/E ratio of 26.92, a PEG ratio of 0.99 and a beta of 0.91. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $84.50. The business has a 50-day simple moving average of $76.77 and a 200 day simple moving average of $77.22.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, beating the consensus estimate 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 quarter in the prior year, the business earned $0.74 earnings per share. On average, analysts expect that The Charles Schwab Co. will post 4.22 EPS 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. Stockholders of record on Friday, May 9th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend is Friday, May 9th. Charles Schwab's dividend payout ratio is currently 32.73%.

Charles Schwab Profile

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.