Korea Investment CORP Acquires 311,547 Shares of The Charles Schwab Co. (NYSE:SCHW)

Korea Investment CORP increased its holdings in The Charles Schwab Co. (NYSE:SCHW) by 37.8% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,136,015 shares of the financial services provider’s stock after buying an additional 311,547 shares during the quarter. Korea Investment CORP’s holdings in Charles Schwab were worth $84,076,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of SCHW. Principal Financial Group Inc. lifted its position in Charles Schwab by 0.6% during the third quarter. Principal Financial Group Inc. now owns 6,673,901 shares of the financial services provider’s stock valued at $432,536,000 after purchasing an additional 38,201 shares during the period. United Bank lifted its holdings in shares of Charles Schwab by 13.0% during the 3rd quarter. United Bank now owns 11,352 shares of the financial services provider’s stock valued at $736,000 after buying an additional 1,309 shares during the period. Quest Partners LLC purchased a new position in shares of Charles Schwab in the 3rd quarter worth $270,000. Kingsview Wealth Management LLC grew its holdings in shares of Charles Schwab by 7.6% in the third quarter. Kingsview Wealth Management LLC now owns 6,747 shares of the financial services provider’s stock worth $437,000 after acquiring an additional 477 shares during the period. Finally, Truvestments Capital LLC purchased a new stake in Charles Schwab during the third quarter valued at $88,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

SCHW has been the topic of several research reports. Redburn Partners dropped their target price on Charles Schwab from $70.00 to $68.00 and set a “sell” rating on the stock in a research report on Friday, January 17th. Truist Financial boosted their target price on shares of Charles Schwab from $90.00 to $91.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. JMP Securities reiterated a “market outperform” rating and issued a $94.00 price target (up from $84.00) on shares of Charles Schwab in a research report on Monday, December 9th. Jefferies Financial Group boosted their price objective on shares of Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, Citigroup upped their price objective on Charles Schwab from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. 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, the company currently has an average rating of “Hold” and an average price target of $86.33.

Charles Schwab Stock Down 0.8 %

Shares of SCHW opened at $80.12 on Thursday. The business’s 50 day moving average is $79.44 and its 200 day moving average is $75.14. 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 Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $84.50. The company has a market capitalization of $145.30 billion, a PE ratio of 26.80, a price-to-earnings-growth ratio of 0.99 and a beta of 0.98.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $5.19 billion. During the same quarter last year, the business posted $0.68 earnings per share. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. 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 declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.08 annualized dividend and a yield of 1.35%. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s payout ratio is presently 36.12%.

Insider Buying and Selling at Charles Schwab

In related news, insider Paul V. Woolway sold 3,380 shares of the company’s stock in a transaction 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 sale, the insider now owns 57,818 shares of the company’s stock, valued at $4,586,123.76. This represents a 5.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Peter J. Morgan III sold 14,643 shares of Charles Schwab stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total transaction of $1,181,690.10. The disclosure for this sale can be found here. Insiders sold 501,087 shares of company stock valued at $40,952,233 in the last 90 days. Insiders own 6.60% of the company’s stock.

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.