The Charles Schwab Co. (NYSE:SCHW) Shares Bought by Bowen Hanes & Co. Inc.

Bowen Hanes & Co. Inc. lifted its holdings in The Charles Schwab Co. (NYSE:SCHW) by 402.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 595,931 shares of the financial services provider’s stock after purchasing an additional 477,277 shares during the period. Bowen Hanes & Co. Inc.’s holdings in Charles Schwab were worth $44,105,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of SCHW. Principal Financial Group Inc. lifted its stake in shares of Charles Schwab by 0.6% in 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 acquiring an additional 38,201 shares during the period. United Bank lifted its position in shares of 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 in the last quarter. Ashton Thomas Securities LLC purchased a new position in Charles Schwab in the 3rd quarter valued at about $61,000. Harbour Investments Inc. grew its stake in Charles Schwab by 6.9% in the 3rd quarter. Harbour Investments Inc. now owns 7,612 shares of the financial services provider’s stock worth $493,000 after acquiring an additional 493 shares during the period. Finally, WealthPlan Investment Management LLC acquired a new position in Charles Schwab in the third quarter valued at $351,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Trading Up 2.5 %

NYSE SCHW opened at $74.29 on Thursday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The Charles Schwab Co. has a one year low of $61.01 and a one year high of $84.50. The company has a 50-day simple moving average of $78.42 and a 200-day simple moving average of $74.16. The firm has a market capitalization of $134.72 billion, a PE ratio of 24.84, a price-to-earnings-growth ratio of 0.99 and a beta of 0.98.

Charles Schwab (NYSE:SCHW) last issued 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. The company had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. Charles Schwab’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.68 earnings per share. On average, equities analysts forecast that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.45%. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 14th. Charles Schwab’s dividend payout ratio (DPR) is presently 36.12%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Wells Fargo & Company raised shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $89.00 to $93.00 in a research note on Wednesday, January 22nd. UBS Group lifted their price target on shares of Charles Schwab from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods upped their price objective on shares of Charles Schwab from $81.00 to $93.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. Jefferies Financial Group lifted their target price on Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $86.33.

Insider Activity

In related news, 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 value of $1,181,690.10. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Arun Sarin sold 8,548 shares of Charles Schwab stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total value of $699,397.36. Following the sale, the director now directly owns 18,617 shares in the company, valued at $1,523,242.94. The trade was a 31.47 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 501,087 shares of company stock valued at $40,952,233. 6.60% of the stock is currently owned by company insiders.

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.