Resona Asset Management Co. Ltd. Makes New Investment in The Charles Schwab Co. (NYSE:SCHW)

Resona Asset Management Co. Ltd. acquired a new stake in The Charles Schwab Co. (NYSE:SCHW) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 477,668 shares of the financial services provider’s stock, valued at approximately $35,403,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Charles Schwab in the 4th quarter valued at about $1,289,544,000. Primecap Management Co. CA increased its holdings in Charles Schwab by 310.3% during the 4th quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider’s stock worth $314,716,000 after purchasing an additional 3,216,000 shares in the last quarter. Franklin Resources Inc. grew its holdings in Charles Schwab by 15.0% during the third quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock worth $1,644,674,000 after buying an additional 3,157,923 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Charles Schwab by 91.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,217,799 shares of the financial services provider’s stock worth $460,179,000 after acquiring an additional 2,962,878 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Charles Schwab during the fourth quarter valued at about $189,791,000. 84.38% of the stock is owned by institutional investors.

Insider Buying and Selling at Charles Schwab

In other news, General Counsel Peter J. Morgan III sold 14,643 shares of Charles Schwab stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total transaction of $1,181,690.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul V. Woolway sold 9,887 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $75.38, for a total value of $745,282.06. Following the transaction, the insider now directly owns 47,931 shares of the company’s stock, valued at $3,613,038.78. The trade was a 17.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 513,081 shares of company stock valued at $41,903,066 in the last three months. Company insiders own 6.60% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on SCHW. Keefe, Bruyette & Woods increased their price objective on shares of Charles Schwab from $81.00 to $93.00 and gave the company an “outperform” rating in a research note on Friday, December 20th. UBS Group upped their target price on Charles Schwab from $90.00 to $95.00 and gave the company a “buy” rating in a report on Monday, January 27th. JMP Securities reiterated a “market outperform” rating and set a $94.00 price target (up from $84.00) on shares of Charles Schwab in a report on Monday, December 9th. TD Cowen upgraded Charles Schwab from a “hold” rating to a “buy” rating and upped their price objective for the company from $88.00 to $103.00 in a research note on Tuesday, February 18th. Finally, Truist Financial lowered their target price on Charles Schwab from $91.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Charles Schwab has an average rating of “Moderate Buy” and a consensus price target of $86.94.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $69.07 on Friday. The stock has a fifty day moving average of $79.09 and a 200-day moving average of $75.73. The stock has a market cap of $125.26 billion, a PE ratio of 23.10, a price-to-earnings-growth ratio of 0.99 and a beta of 0.91. 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 fifty-two week low of $61.01 and a fifty-two week high of $84.50.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share 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 business had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the previous year, the firm earned $0.68 EPS. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. Equities research analysts anticipate that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The company 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. The ex-dividend date was Friday, February 14th. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 1.56%. 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.