The Charles Schwab Co. (NYSE:SCHW) Shares Bought by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP lifted its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 964.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 266,115 shares of the financial services provider’s stock after purchasing an additional 241,115 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Charles Schwab were worth $19,695,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Gladstone Institutional Advisory LLC boosted its position in Charles Schwab by 2.0% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 6,247 shares of the financial services provider’s stock valued at $462,000 after buying an additional 124 shares during the period. N.E.W. Advisory Services LLC boosted its holdings in Charles Schwab by 1.7% in the fourth quarter. N.E.W. Advisory Services LLC now owns 7,522 shares of the financial services provider’s stock valued at $557,000 after purchasing an additional 125 shares during the period. Klingman & Associates LLC grew its stake in Charles Schwab by 3.2% during the 4th quarter. Klingman & Associates LLC now owns 4,083 shares of the financial services provider’s stock worth $302,000 after purchasing an additional 125 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV grew its stake in Charles Schwab by 2.7% during the 4th quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 4,763 shares of the financial services provider’s stock worth $353,000 after purchasing an additional 127 shares in the last quarter. Finally, Personal CFO Solutions LLC increased its holdings in Charles Schwab by 1.2% during the 4th quarter. Personal CFO Solutions LLC now owns 11,236 shares of the financial services provider’s stock worth $832,000 after purchasing an additional 130 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insiders Place Their Bets

In related news, Chairman Walter W. Bettinger sold 464,629 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the completion of the sale, the chairman now directly owns 827,377 shares of the company’s stock, valued at $67,770,450.07. This trade represents a 35.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul V. Woolway sold 3,380 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $79.32, for a total transaction of $268,101.60. Following the completion of the transaction, the insider now directly owns 57,818 shares in the company, valued at $4,586,123.76. This represents a 5.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 513,081 shares of company stock valued at $41,903,066. 6.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SCHW. 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 report on Tuesday, January 7th. Citigroup upgraded shares of Charles Schwab from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $85.00 to $102.00 in a report on Wednesday. Redburn Partners reduced their price objective on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating on the stock in a report on Friday, January 17th. JMP Securities reiterated a “market outperform” rating and set a $94.00 target price (up previously from $84.00) on shares of Charles Schwab in a research note on Monday, December 9th. Finally, TD Cowen upgraded Charles Schwab from a “hold” rating to a “buy” rating and raised their price target for the company from $88.00 to $103.00 in a research note on Tuesday, February 18th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $87.28.

Charles Schwab Price Performance

SCHW stock opened at $74.90 on Friday. 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 company has a market capitalization of $135.83 billion, a P/E ratio of 25.05, a PEG ratio of 0.99 and a beta of 0.91. The business has a 50 day simple moving average of $79.34 and a 200-day simple moving average of $75.69. The Charles Schwab Co. has a twelve month low of $61.01 and a twelve month high of $84.50.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The firm had revenue of $5.33 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter in the prior year, the business earned $0.68 EPS. Charles Schwab’s quarterly revenue was up 19.5% compared to the same quarter last year. As a group, equities analysts anticipate that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.44%. The ex-dividend date was Friday, February 14th. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s payout ratio is 36.12%.

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.