Massachusetts Financial Services Co. MA boosted its holdings in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 4.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,994,967 shares of the financial services provider's stock after purchasing an additional 1,219,015 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.75% of Charles Schwab worth $2,132,454,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Investment Research & Advisory Group Inc. boosted its holdings in Charles Schwab by 1.0% in the fourth quarter. Investment Research & Advisory Group Inc. now owns 58,979 shares of the financial services provider's stock worth $4,058,000 after purchasing an additional 607 shares during the period. Bamco Inc. NY grew its stake 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 worth $444,826,000 after purchasing an additional 42,588 shares in the last quarter. Retirement Systems of Alabama increased its stake in Charles Schwab by 13.0% during the 4th quarter. Retirement Systems of Alabama now owns 1,329,388 shares of the financial services provider's stock valued at $91,462,000 after buying an additional 152,967 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of Charles Schwab by 43.2% in the third quarter. Nisa Investment Advisors LLC now owns 551,682 shares of the financial services provider's stock valued at $30,287,000 after acquiring an additional 166,316 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Charles Schwab by 22.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 883,379 shares of the financial services provider's stock valued at $60,776,000 after acquiring an additional 160,719 shares during the period. 84.38% of the stock is currently owned by hedge funds and other institutional investors.
Charles Schwab Stock Performance
NYSE:SCHW traded up $0.67 during mid-day trading on Friday, hitting $76.11. 5,103,040 shares of the company's stock traded hands, compared to its average volume of 7,583,714. The firm has a market capitalization of $135.18 billion, a price-to-earnings ratio of 31.85, a price-to-earnings-growth ratio of 1.12 and a beta of 0.98. The firm has a 50 day moving average of $71.78 and a two-hundred day moving average of $65.59. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.82. The Charles Schwab Co. has a 12 month low of $46.55 and a 12 month high of $77.05.
Charles Schwab (NYSE:SCHW - Get Free Report) last posted its quarterly earnings data on Monday, April 15th. The financial services provider reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.01. The company had revenue of $4.74 billion during the quarter, compared to analysts' expectations of $4.71 billion. Charles Schwab had a return on equity of 19.86% and a net margin of 26.14%. On average, equities analysts forecast that The Charles Schwab Co. will post 3.4 earnings per share for the current fiscal year.
Charles Schwab Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be given a $0.25 dividend. The ex-dividend date is Thursday, May 9th. This represents a $1.00 annualized dividend and a yield of 1.31%. Charles Schwab's dividend payout ratio is 41.84%.
Insider Transactions at Charles Schwab
In related news, insider Nigel J. Murtagh sold 29,991 shares of Charles Schwab stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $67.80, for a total transaction of $2,033,389.80. Following the sale, the insider now directly owns 81,446 shares of the company's stock, valued at $5,522,038.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $65.29, for a total transaction of $587,610.00. Following the sale, the director now directly owns 585,057 shares in the company, valued at approximately $38,198,371.53. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nigel J. Murtagh sold 29,991 shares of the company's stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $67.80, for a total value of $2,033,389.80. Following the completion of the sale, the insider now owns 81,446 shares in the company, valued at $5,522,038.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 659,587 shares of company stock worth $47,399,731. 6.60% of the stock is currently owned by company insiders.
Analyst Ratings Changes
SCHW has been the subject of several research analyst reports. Raymond James cut their price objective on Charles Schwab from $78.00 to $75.00 and set an "outperform" rating for the company in a report on Thursday, January 18th. Keefe, Bruyette & Woods lifted their price target on shares of Charles Schwab from $75.00 to $76.00 and gave the stock a "market perform" rating in a research report on Tuesday, April 16th. Barclays increased their price objective on Charles Schwab from $74.00 to $75.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. upped their target price on Charles Schwab from $86.00 to $89.00 and gave the company an "overweight" rating in a report on Tuesday, April 16th. Finally, Piper Sandler boosted their price objective on Charles Schwab from $75.00 to $78.00 and gave the stock an "overweight" rating in a report on Friday, April 12th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $74.47.
Read Our Latest Stock Analysis on Charles Schwab
Charles Schwab Company Profile
(
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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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).
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