The Charles Schwab Co. (NYSE:SCHW) Shares Bought by Cibc World Market Inc.

Cibc World Market Inc. lifted its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 364.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 212,577 shares of the financial services provider’s stock after buying an additional 166,850 shares during the period. Cibc World Market Inc.’s holdings in Charles Schwab were worth $15,733,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Franklin Resources Inc. boosted its position in Charles Schwab by 15.0% during the 3rd quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock worth $1,644,674,000 after acquiring an additional 3,157,923 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Charles Schwab by 6.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock valued at $1,858,706,000 after purchasing an additional 1,711,312 shares in the last quarter. AustralianSuper Pty Ltd lifted its holdings in Charles Schwab by 2,617.6% in the third quarter. AustralianSuper Pty Ltd now owns 1,707,771 shares of the financial services provider’s stock worth $110,681,000 after purchasing an additional 1,644,931 shares during the period. KBC Group NV grew its position in Charles Schwab by 186.7% in the 4th quarter. KBC Group NV now owns 2,138,033 shares of the financial services provider’s stock valued at $158,236,000 after buying an additional 1,392,255 shares in the last quarter. Finally, Two Sigma Advisers LP acquired a new position in Charles Schwab during the 3rd quarter valued at about $86,845,000. 84.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SCHW shares. Cowen increased their price objective on shares of Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. Morgan Stanley increased their price target on Charles Schwab from $74.00 to $84.00 and gave the company an “equal weight” rating in a research note on Friday, January 17th. Piper Sandler boosted their price objective on Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Jefferies Financial Group raised their target price on Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, The Goldman Sachs Group upped their price target on shares of Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $84.11.

Charles Schwab Price Performance

Shares of NYSE:SCHW opened at $82.73 on Friday. The company has a market cap of $147.22 billion, a P/E ratio of 27.67, a price-to-earnings-growth ratio of 1.00 and a beta of 0.99. The company’s fifty day moving average is $77.94 and its two-hundred day moving average is $71.08. The company has a quick ratio of 0.47, a current 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 $83.84.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the prior year, the business earned $0.68 EPS. The business’s revenue for the quarter was up 19.5% on a year-over-year basis. Equities analysts expect that The Charles Schwab Co. will post 4.18 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a yield of 1.31%. Charles Schwab’s payout ratio is presently 33.44%.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,500 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $77.02, for a total value of $192,550.00. Following the transaction, the insider now directly owns 18,069 shares of the company’s stock, valued at $1,391,674.38. This represents a 12.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Christopher V. Dodds sold 9,284 shares of Charles Schwab stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $81.43, for a total value of $755,996.12. Following the sale, the director now owns 442,807 shares of the company’s stock, valued at approximately $36,057,774.01. This represents a 2.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,014 shares of company stock worth $4,052,281. 6.60% of the stock is currently owned by company insiders.

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.