Logan Capital Management Inc. trimmed its stake in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 90.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 959 shares of the financial services provider's stock after selling 8,770 shares during the period. Logan Capital Management Inc.'s holdings in Charles Schwab were worth $71,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Charles Schwab during the 4th quarter worth approximately $1,289,544,000. Kovitz Investment Group Partners LLC grew its position in shares of 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 during the period. FMR LLC grew its position in shares of 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 during the period. Marshall Wace LLP grew its position in shares of 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 during the period. Finally, Primecap Management Co. CA grew its position 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 buying an additional 3,216,000 shares during the period. 84.38% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
SCHW has been the subject of a number of analyst reports. TD Cowen upgraded shares of Charles Schwab from a "hold" rating to a "buy" rating and boosted their price objective for the company from $88.00 to $103.00 in a report on Tuesday, February 18th. UBS Group upped their price target on shares of Charles Schwab from $95.00 to $96.00 and gave the company a "buy" rating in a report on Tuesday, April 22nd. Keefe, Bruyette & Woods increased their target price on Charles Schwab from $90.00 to $93.00 and gave the stock an "outperform" rating in a report on Tuesday, April 22nd. Truist Financial boosted their price objective on shares of Charles Schwab from $84.00 to $97.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, Morgan Stanley boosted their price objective on shares of Charles Schwab from $76.00 to $83.00 and gave the stock an "overweight" rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Charles Schwab presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.33.
Read Our Latest Research Report on Charles Schwab
Insiders Place Their Bets
In other news, Director Frank C. Herringer sold 3,592 shares of Charles Schwab stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $74.26, for a total transaction of $266,741.92. Following the transaction, the director now directly owns 172,162 shares of the company's stock, valued at $12,784,750.12. The trade was a 2.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul V. Woolway sold 3,380 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $79.32, for a total value of $268,101.60. Following the completion of the transaction, the insider now directly owns 57,818 shares in the company, valued at approximately $4,586,123.76. This represents a 5.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,412 shares of company stock valued at $3,014,797. Insiders own 6.30% of the company's stock.
Charles Schwab Price Performance
SCHW traded up $0.61 during midday trading on Friday, hitting $88.72. The stock had a trading volume of 6,562,751 shares, compared to its average volume of 9,430,706. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The Charles Schwab Co. has a 1 year low of $61.01 and a 1 year high of $88.87. The business has a fifty day moving average of $78.76 and a 200 day moving average of $78.36. The company has a market cap of $160.89 billion, a P/E ratio of 29.67, a price-to-earnings-growth ratio of 0.99 and a beta of 0.90.
Charles Schwab (NYSE:SCHW - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.01 by $0.03. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The business had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.46 billion. During the same quarter in the prior year, the company earned $0.74 earnings per share. As a group, equities analysts forecast that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.
Charles Schwab Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 9th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, May 9th. This represents a $1.08 annualized dividend and a dividend yield of 1.22%. Charles Schwab's dividend payout ratio (DPR) is presently 32.73%.
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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