Point72 Hong Kong Ltd Purchases 273,390 Shares of The Charles Schwab Co. (NYSE:SCHW)

Point72 Hong Kong Ltd raised its position in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 255.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 380,285 shares of the financial services provider's stock after acquiring an additional 273,390 shares during the period. Charles Schwab comprises approximately 1.7% of Point72 Hong Kong Ltd's holdings, making the stock its 8th largest holding. Point72 Hong Kong Ltd's holdings in Charles Schwab were worth $28,145,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the company. Gladstone Institutional Advisory LLC boosted its stake in Charles Schwab by 2.0% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 6,247 shares of the financial services provider's stock worth $462,000 after buying an additional 124 shares in the last quarter. N.E.W. Advisory Services LLC lifted its holdings in shares of Charles Schwab by 1.7% during the 4th quarter. N.E.W. Advisory Services LLC now owns 7,522 shares of the financial services provider's stock worth $557,000 after acquiring an additional 125 shares during the period. Klingman & Associates LLC lifted its holdings in shares of Charles Schwab by 3.2% during the 4th quarter. Klingman & Associates LLC now owns 4,083 shares of the financial services provider's stock worth $302,000 after acquiring an additional 125 shares during the period. Investors Asset Management of Georgia Inc. GA ADV boosted its position in shares of Charles Schwab by 2.7% during the 4th quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 4,763 shares of the financial services provider's stock valued at $353,000 after acquiring an additional 127 shares in the last quarter. Finally, Personal CFO Solutions LLC increased its stake in Charles Schwab by 1.2% in the fourth quarter. Personal CFO Solutions LLC now owns 11,236 shares of the financial services provider's stock valued at $832,000 after acquiring an additional 130 shares during the period. Institutional investors own 84.38% of the company's stock.

Charles Schwab Stock Performance

Charles Schwab stock opened at $87.02 on Thursday. The stock has a 50-day simple moving average of $78.11 and a 200 day simple moving average of $78.14. The stock has a market capitalization of $157.82 billion, a price-to-earnings ratio of 29.10, a P/E/G ratio of 0.99 and a beta of 0.90. 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 12-month low of $61.01 and a 12-month high of $87.29.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, topping analysts' consensus estimates of $1.01 by $0.03. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The company had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.46 billion. During the same period in the previous year, the firm posted $0.74 earnings per share. On average, research analysts anticipate that The Charles Schwab Co. will post 4.22 earnings per share 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. Investors of record on Friday, May 9th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Friday, May 9th. Charles Schwab's dividend payout ratio (DPR) is presently 32.73%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Barclays dropped their price target on shares of Charles Schwab from $96.00 to $84.00 and set an "overweight" rating for the company in a research report on Monday, April 7th. Citigroup raised Charles Schwab from a "neutral" rating to a "buy" rating and increased their target price for the stock from $85.00 to $102.00 in a report on Wednesday, April 2nd. JMP Securities reaffirmed a "market outperform" rating and issued a $94.00 price target on shares of Charles Schwab in a research note on Monday, April 21st. Truist Financial dropped their price objective on Charles Schwab from $85.00 to $84.00 and set a "buy" rating for the company in a research note on Monday, April 21st. Finally, Redburn Partners cut their price objective on Charles Schwab from $70.00 to $68.00 and set a "sell" rating for the company in a report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $87.61.

Insiders Place Their Bets

In related 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 value of $266,741.92. Following the completion of the sale, the director now directly owns 172,162 shares in the company, valued at $12,784,750.12. This trade represents a 2.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul V. Woolway sold 9,887 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $75.38, for a total transaction of $745,282.06. Following the transaction, the insider now owns 47,931 shares in the company, valued at approximately $3,613,038.78. The trade was a 17.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,412 shares of company stock valued at $3,014,797. 6.30% of the stock is currently owned by corporate insiders.

About Charles Schwab

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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