The Charles Schwab Co. (NYSE:SCHW) Shares Bought by iA Global Asset Management Inc.

iA Global Asset Management Inc. raised its position in The Charles Schwab Co. (NYSE:SCHW) by 77.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 13,812 shares of the financial services provider’s stock after buying an additional 6,017 shares during the quarter. iA Global Asset Management Inc.’s holdings in Charles Schwab were worth $1,022,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Prospera Private Wealth LLC purchased a new stake in shares of Charles Schwab during the 3rd quarter worth $31,000. Atala Financial Inc purchased a new stake in shares of Charles Schwab during the 4th quarter worth $41,000. Knuff & Co LLC boosted its position in shares of Charles Schwab by 1,309.3% during the 4th quarter. Knuff & Co LLC now owns 606 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 563 shares in the last quarter. Financial Life Planners purchased a new stake in shares of Charles Schwab during the 4th quarter worth $46,000. Finally, Whipplewood Advisors LLC purchased a new stake in shares of Charles Schwab during the 4th quarter worth $46,000. 84.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SCHW has been the topic of several research analyst reports. Piper Sandler boosted their target price on shares of Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Morgan Stanley boosted their target price on shares of Charles Schwab from $84.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Keefe, Bruyette & Woods boosted their price objective on shares of Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. JMP Securities reiterated a “market outperform” rating and issued a $94.00 price objective (up from $84.00) on shares of Charles Schwab in a research report on Monday, December 9th. Finally, Jefferies Financial Group boosted their price objective on shares of Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Two analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $86.33.

Insider Activity

In related news, insider Paul V. Woolway sold 3,380 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $79.32, for a total transaction of $268,101.60. Following the completion of the sale, the insider now owns 57,818 shares of the company’s stock, valued at approximately $4,586,123.76. This represents a 5.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Walter W. Bettinger sold 464,629 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the sale, the chairman now directly owns 827,377 shares of the company’s stock, valued at approximately $67,770,450.07. This trade represents a 35.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 501,087 shares of company stock valued at $40,952,233 in the last 90 days. 6.60% of the stock is currently owned by insiders.

Charles Schwab Trading Down 0.1 %

NYSE SCHW opened at $78.47 on Friday. The Charles Schwab Co. has a 12 month low of $61.01 and a 12 month high of $84.50. The company has a 50-day moving average of $78.99 and a 200-day moving average of $74.72. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The company has a market cap of $142.30 billion, a P/E ratio of 26.24, a P/E/G ratio of 0.99 and a beta of 0.98.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 EPS 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 company had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the prior year, the company posted $0.68 EPS. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. As a group, equities analysts predict that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.38%. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio 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.