Arrowstreet Capital Limited Partnership Boosts Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Arrowstreet Capital Limited Partnership grew its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 91.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 6,217,799 shares of the financial services provider’s stock after purchasing an additional 2,962,878 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Charles Schwab were worth $460,179,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. lifted its position in shares of Charles Schwab by 0.6% during the 3rd quarter. Principal Financial Group Inc. now owns 6,673,901 shares of the financial services provider’s stock worth $432,536,000 after buying an additional 38,201 shares during the last quarter. United Bank lifted its position in Charles Schwab by 13.0% in the third quarter. United Bank now owns 11,352 shares of the financial services provider’s stock valued at $736,000 after acquiring an additional 1,309 shares during the last quarter. Bridgewater Associates LP acquired a new position in Charles Schwab in the third quarter valued at $1,754,000. Icon Wealth Advisors LLC grew its holdings in shares of Charles Schwab by 4.2% during the third quarter. Icon Wealth Advisors LLC now owns 5,514 shares of the financial services provider’s stock worth $357,000 after purchasing an additional 222 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in shares of Charles Schwab by 141.5% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,099,801 shares of the financial services provider’s stock worth $71,278,000 after purchasing an additional 644,440 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SCHW has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price target on Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. UBS Group lifted their target price on shares of Charles Schwab from $90.00 to $95.00 and gave the company a “buy” rating in a report on Monday, January 27th. Morgan Stanley increased their price target on shares of Charles Schwab from $84.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Citigroup lifted their price objective on shares of Charles Schwab from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Finally, Truist Financial raised their price target on Charles Schwab from $90.00 to $91.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $86.33.

Insider Activity at Charles Schwab

In other news, insider Paul V. Woolway sold 9,887 shares of Charles Schwab stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $75.38, for a total value of $745,282.06. Following the completion of the sale, the insider now owns 47,931 shares of the company’s stock, valued at $3,613,038.78. The trade was a 17.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Walter W. Bettinger sold 464,629 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total value of $38,057,761.39. Following the transaction, the chairman now owns 827,377 shares in the company, valued at $67,770,450.07. This trade represents a 35.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 509,701 shares of company stock valued at $41,641,353. 6.60% of the stock is owned by insiders.

Charles Schwab Stock Performance

NYSE:SCHW opened at $77.79 on Friday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $141.08 billion, a P/E ratio of 26.02, a price-to-earnings-growth ratio of 0.99 and a beta of 0.98. The firm has a 50-day moving average price of $79.55 and a two-hundred day moving average price of $75.36. The Charles Schwab Co. has a twelve month low of $61.01 and a twelve month high of $84.50.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. The business had revenue of $5.33 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The company’s revenue was up 19.5% on a year-over-year basis. During the same period last year, the company posted $0.68 EPS. As a group, research analysts expect that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date was Friday, February 14th. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio (DPR) is currently 36.12%.

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.