Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 5.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,541,413 shares of the financial services provider's stock after purchasing an additional 194,807 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.20% of Charles Schwab worth $262,100,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Merit Financial Group LLC grew its stake in shares of Charles Schwab by 230.1% in the fourth quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider's stock worth $2,483,000 after acquiring an additional 23,383 shares in the last quarter. Benjamin Edwards Inc. boosted its stake in shares of Charles Schwab by 2,840.7% in the 3rd quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider's stock valued at $398,000 after buying an additional 5,937 shares during the period. Synovus Financial Corp grew its position in shares of Charles Schwab by 46.0% during the third quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider's stock worth $4,400,000 after buying an additional 21,377 shares in the last quarter. Oregon Pacific Wealth Management LLC purchased a new stake in shares of Charles Schwab during the fourth quarter worth approximately $688,000. Finally, Golden State Equity Partners raised its holdings in Charles Schwab by 293.9% in the fourth quarter. Golden State Equity Partners now owns 12,207 shares of the financial services provider's stock valued at $903,000 after acquiring an additional 9,108 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company's stock.
A number of equities research analysts have commented on SCHW shares. Cowen increased their price objective on shares of Charles Schwab from $69.00 to $75.00 and gave the company a "hold" rating in a research report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft raised their price target on Charles Schwab from $98.00 to $105.00 and gave the company a "buy" rating in a research note on Wednesday, January 22nd. JMP Securities reaffirmed a "market outperform" rating and set a $94.00 price objective (up from $84.00) on shares of Charles Schwab in a research report on Monday, December 9th. Bank of America cut their target price on Charles Schwab from $63.00 to $61.00 and set an "underperform" rating on the stock in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group boosted their target price on Charles Schwab from $67.00 to $74.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $84.50.
Read Our Latest Stock Analysis on Charles Schwab
In other news, Director Christopher V. Dodds sold 9,284 shares of the business's stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $81.43, for a total transaction of $755,996.12. Following the sale, the director now owns 442,807 shares of the company's stock, valued at $36,057,774.01. The trade was a 2.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jonathan S. Beatty sold 2,300 shares of Charles Schwab stock in a transaction on Monday, November 25th. The stock was sold at an average price of $82.01, for a total value of $188,623.00. Following the transaction, the insider now directly owns 18,069 shares of the company's stock, valued at approximately $1,481,838.69. This represents a 11.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,014 shares of company stock worth $4,052,281. Company insiders own 6.60% of the company's stock.
Charles Schwab stock opened at $83.62 on Friday. The stock has a 50 day moving average of $77.97 and a two-hundred day moving average of $71.57. The Charles Schwab Co. has a twelve month low of $61.01 and a twelve month high of $83.94. The stock has a market capitalization of $148.81 billion, a price-to-earnings ratio of 27.96, a PEG ratio of 1.01 and a beta of 0.99. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59.
Charles Schwab (NYSE:SCHW - Get Free Report) last posted its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, beating analysts' consensus estimates of $0.90 by $0.11. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The firm had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same period last year, the firm posted $0.68 EPS. Charles Schwab's quarterly revenue was up 19.5% on a year-over-year basis. As a group, research analysts expect that The Charles Schwab Co. will post 4.18 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a $0.27 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.29%. This is an increase from Charles Schwab's previous quarterly dividend of $0.25. Charles Schwab's dividend payout ratio (DPR) is presently 33.44%.
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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