Coronation Fund Managers Ltd. Grows Holdings in The Charles Schwab Co. (NYSE:SCHW)

Coronation Fund Managers Ltd. raised its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 3.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 507,190 shares of the financial services provider’s stock after purchasing an additional 17,175 shares during the period. Charles Schwab accounts for 2.2% of Coronation Fund Managers Ltd.’s investment portfolio, making the stock its 17th largest holding. Coronation Fund Managers Ltd.’s holdings in Charles Schwab were worth $37,537,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Washington Trust Advisors Inc. raised its stake in Charles Schwab by 62.6% during the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 149 shares during the period. Capital Performance Advisors LLP purchased a new stake in Charles Schwab during the 3rd quarter valued at approximately $25,000. Prospera Private Wealth LLC bought a new stake in shares of Charles Schwab during the third quarter valued at approximately $31,000. Hazlett Burt & Watson Inc. purchased a new position in shares of Charles Schwab in the third quarter worth $33,000. Finally, Planning Capital Management Corp bought a new position in shares of Charles Schwab during the third quarter worth $33,000. 84.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on SCHW. Piper Sandler boosted their price target on shares of Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Barclays boosted their target price on Charles Schwab from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Jefferies Financial Group raised their price target on Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a report on Monday, December 9th. Keefe, Bruyette & Woods upped their price objective on Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. Finally, Morgan Stanley raised their target price on shares of Charles Schwab from $84.00 to $91.00 and gave the company an “equal weight” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $84.50.

Charles Schwab Stock Performance

Shares of NYSE:SCHW opened at $83.18 on Monday. 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 $84.04. The company has a market capitalization of $148.04 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 1.02 and a beta of 0.99. The firm’s 50-day moving average is $78.00 and its 200 day moving average is $71.83.

Charles Schwab (NYSE:SCHW) last released its earnings results 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 return on equity of 18.20% and a net margin of 30.31%. The firm had revenue of $5.33 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter in the prior year, the firm posted $0.68 earnings per share. The company’s quarterly revenue was up 19.5% on a year-over-year basis. Research analysts predict that The Charles Schwab Co. will post 4.18 EPS for the current year.

Charles Schwab Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.30%. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, February 14th. Charles Schwab’s dividend payout ratio (DPR) is 33.44%.

Insider Transactions at Charles Schwab

In other Charles Schwab news, Director Arun Sarin sold 8,548 shares of the company’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total value of $699,397.36. Following the transaction, the director now directly owns 18,617 shares in the company, valued at $1,523,242.94. This represents a 31.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the firm’s stock in a transaction that occurred 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. Over the last ninety days, insiders have sold 47,514 shares of company stock worth $3,859,731. 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.