Avanza Fonder AB Invests $7.76 Million in The Charles Schwab Co. (NYSE:SCHW)

Avanza Fonder AB bought a new stake in shares of The Charles Schwab Co. (NYSE:SCHW) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 104,890 shares of the financial services provider’s stock, valued at approximately $7,763,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Benjamin Edwards Inc. grew its position in Charles Schwab by 2,840.7% during the 3rd quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock worth $398,000 after purchasing an additional 5,937 shares during the last quarter. Synovus Financial Corp lifted its stake 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 during the period. Patten & Patten Inc. TN raised its stake in Charles Schwab by 155.9% in the 3rd quarter. Patten & Patten Inc. TN now owns 104,168 shares of the financial services provider’s stock worth $6,751,000 after acquiring an additional 63,463 shares during the last quarter. Equity Investment Corp lifted its stake in Charles Schwab by 9.4% during the 3rd quarter. Equity Investment Corp now owns 1,640,157 shares of the financial services provider’s stock valued at $106,299,000 after acquiring an additional 140,643 shares during the period. Finally, Teewinot Capital Advisers L.L.C. boosted its position in Charles Schwab by 9.0% in the 2nd quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider’s stock worth $57,122,000 after purchasing an additional 64,041 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SCHW. Deutsche Bank Aktiengesellschaft boosted their price objective on Charles Schwab from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. upped their price objective on shares of Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Piper Sandler raised their price target on shares of Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Jefferies Financial Group raised their price target on shares of Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, Citigroup dropped their price target on Charles Schwab from $85.00 to $80.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Charles Schwab presently has an average rating of “Moderate Buy” and an average price target of $81.63.

Charles Schwab Price Performance

SCHW stock opened at $75.21 on Friday. The business’s fifty day moving average price is $77.58 and its 200 day moving average price is $70.60. The Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $83.35. The company has a market capitalization of $133.84 billion, a PE ratio of 29.71, a P/E/G ratio of 1.19 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) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same quarter last year, the firm posted $0.77 earnings per share. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, sell-side analysts anticipate that The Charles Schwab Co. will post 3.13 EPS for the current year.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 1.33%. Charles Schwab’s dividend payout ratio is presently 39.06%.

Insiders Place Their Bets

In related news, insider Jonathan S. Beatty sold 2,300 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $82.01, for a total transaction of $188,623.00. Following the sale, the insider now directly owns 18,069 shares in the company, valued at approximately $1,481,838.69. This represents a 11.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the director now owns 442,807 shares of the company’s stock, valued at $36,057,774.01. This trade represents a 2.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,823 shares of company stock worth $2,171,194 over the last 90 days. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Profile

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.