Principal Securities Inc. bought a new position in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 90,344 shares of the financial services provider's stock, valued at approximately $6,216,000.
Other institutional investors have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its position in Charles Schwab by 26.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 29,775,952 shares of the financial services provider's stock worth $1,634,700,000 after acquiring an additional 6,195,934 shares during the last quarter. Fisher Asset Management LLC lifted its position in Charles Schwab by 1.6% during the 4th quarter. Fisher Asset Management LLC now owns 18,627,667 shares of the financial services provider's stock worth $1,281,584,000 after buying an additional 296,317 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Charles Schwab by 3.3% during the 3rd quarter. Invesco Ltd. now owns 15,560,924 shares of the financial services provider's stock worth $854,295,000 after buying an additional 502,304 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Charles Schwab by 2.3% in the 3rd quarter. Northern Trust Corp now owns 15,550,474 shares of the financial services provider's stock valued at $853,721,000 after acquiring an additional 356,112 shares in the last quarter. Finally, Bamco Inc. NY increased its position in shares of Charles Schwab by 0.5% in the third quarter. Bamco Inc. NY now owns 8,102,475 shares of the financial services provider's stock valued at $444,826,000 after acquiring an additional 42,588 shares during the last quarter. Institutional investors own 84.38% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have weighed in on SCHW shares. Raymond James lowered their price target on Charles Schwab from $78.00 to $75.00 and set an "outperform" rating on the stock in a research report on Thursday, January 18th. Citigroup increased their price target on shares of Charles Schwab from $70.00 to $75.00 and gave the company a "neutral" rating in a research note on Thursday, April 11th. JPMorgan Chase & Co. boosted their price objective on shares of Charles Schwab from $86.00 to $89.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 16th. TD Cowen raised their target price on shares of Charles Schwab from $87.00 to $92.00 and gave the company a "buy" rating in a research note on Tuesday, April 16th. Finally, Keefe, Bruyette & Woods boosted their price target on Charles Schwab from $75.00 to $76.00 and gave the stock a "market perform" rating in a research report on Tuesday, April 16th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $74.47.
Check Out Our Latest Stock Analysis on Charles Schwab
Charles Schwab Stock Performance
NYSE:SCHW traded up $0.66 during mid-day trading on Friday, reaching $76.10. 5,102,353 shares of the company's stock were exchanged, compared to its average volume of 7,586,103. The business's fifty day simple moving average is $71.59 and its two-hundred day simple moving average is $65.30. The Charles Schwab Co. has a one year low of $46.55 and a one year high of $77.05. The firm has a market capitalization of $135.16 billion, a PE ratio of 31.84, a price-to-earnings-growth ratio of 1.13 and a beta of 0.98. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.43 and a current ratio of 0.43.
Charles Schwab (NYSE:SCHW - Get Free Report) last released its quarterly earnings results on Monday, April 15th. The financial services provider reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.73 by $0.01. Charles Schwab had a net margin of 26.14% and a return on equity of 19.86%. The company had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.71 billion. Analysts anticipate that The Charles Schwab Co. will post 3.42 earnings per share for the current fiscal year.
Charles Schwab Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date is Thursday, May 9th. Charles Schwab's payout ratio is currently 41.84%.
Insider Buying and Selling
In related news, Chairman Charles R. Schwab sold 89,275 shares of Charles Schwab stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $74.62, for a total value of $6,661,700.50. Following the transaction, the chairman now directly owns 30,641,981 shares of the company's stock, valued at $2,286,504,622.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Peter B. Crawford sold 8,000 shares of Charles Schwab stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $64.76, for a total transaction of $518,080.00. Following the sale, the chief financial officer now directly owns 29,611 shares of the company's stock, valued at approximately $1,917,608.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Charles R. Schwab sold 89,275 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $74.62, for a total transaction of $6,661,700.50. Following the completion of the transaction, the chairman now directly owns 30,641,981 shares of the company's stock, valued at approximately $2,286,504,622.22. The disclosure for this sale can be found here. Insiders sold 659,587 shares of company stock valued at $47,399,731 over the last quarter. 6.60% of the stock is owned by company insiders.
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.
Recommended Stories
Want to see what other hedge funds are holding SCHW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Charles Schwab Co. (NYSE:SCHW - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Charles Schwab, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Charles Schwab wasn't on the list.
While Charles Schwab currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
