Pitcairn Co. Has $765,000 Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Pitcairn Co. grew its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 4.2% in the 4th quarter, HoldingsChannel reports. The fund owned 10,331 shares of the financial services provider’s stock after purchasing an additional 421 shares during the quarter. Pitcairn Co.’s holdings in Charles Schwab were worth $765,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Charles Schwab by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 128,578,230 shares of the financial services provider’s stock worth $9,516,075,000 after acquiring an additional 1,187,384 shares during the period. Geode Capital Management LLC raised its position in shares of Charles Schwab by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 30,901,484 shares of the financial services provider’s stock valued at $2,279,742,000 after buying an additional 760,043 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Charles Schwab by 15.0% in the third quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock valued at $1,644,674,000 after buying an additional 3,157,923 shares during the period. Fisher Asset Management LLC grew its position in Charles Schwab by 1.3% during the fourth quarter. Fisher Asset Management LLC now owns 20,455,266 shares of the financial services provider’s stock worth $1,513,894,000 after buying an additional 265,708 shares in the last quarter. Finally, Norges Bank acquired a new stake in Charles Schwab during the fourth quarter worth approximately $1,289,544,000. Institutional investors own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SCHW shares. Truist Financial cut their target price on Charles Schwab from $91.00 to $85.00 and set a “buy” rating for the company in a research report on Friday. Jefferies Financial Group increased their price objective on shares of Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Citigroup raised shares of Charles Schwab from a “neutral” rating to a “buy” rating and upped their price target for the stock from $85.00 to $102.00 in a report on Wednesday. Morgan Stanley increased their price target on shares of Charles Schwab from $84.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Finally, Redburn Partners lowered their price objective on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating for the company in a research report on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Charles Schwab has a consensus rating of “Moderate Buy” and an average price target of $86.94.

Charles Schwab Trading Down 7.7 %

SCHW opened at $69.07 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick 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. The company’s 50 day moving average price is $79.09 and its two-hundred day moving average price is $75.73. The firm has a market capitalization of $125.26 billion, a price-to-earnings ratio of 23.10, a PEG ratio of 0.99 and a beta of 0.91.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.11. The company had revenue of $5.33 billion for the quarter, compared to analysts’ expectations of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. Charles Schwab’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.68 earnings per share. As a group, research analysts predict that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.56%. This is an increase 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 36.12%.

Insider Buying and Selling

In related news, Chairman Walter W. Bettinger sold 464,629 shares of the company’s stock in a transaction dated 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 sale, the chairman now owns 827,377 shares in the company, valued at $67,770,450.07. This represents a 35.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul V. Woolway sold 3,380 shares of Charles Schwab stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $79.32, for a total value of $268,101.60. Following the completion of the sale, the insider now owns 57,818 shares of the company’s stock, valued at approximately $4,586,123.76. The trade was a 5.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 513,081 shares of company stock valued at $41,903,066 over the last ninety days. 6.60% of the stock is 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.