The Charles Schwab Co. (NYSE:SCHW) Shares Acquired by AQR Capital Management LLC

AQR Capital Management LLC lifted its position in The Charles Schwab Co. (NYSE:SCHW) by 231.0% in the fourth quarter, Holdings Channel reports. The firm owned 296,978 shares of the financial services provider’s stock after acquiring an additional 207,263 shares during the period. AQR Capital Management LLC’s holdings in Charles Schwab were worth $21,979,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Merit Financial Group LLC increased its holdings in shares of Charles Schwab by 230.1% in the 4th quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider’s stock valued at $2,483,000 after acquiring an additional 23,383 shares during the period. Oregon Pacific Wealth Management LLC purchased a new stake in shares of Charles Schwab in the fourth quarter valued at about $688,000. Golden State Equity Partners boosted its stake in shares of Charles Schwab by 293.9% during the fourth quarter. Golden State Equity Partners now owns 12,207 shares of the financial services provider’s stock worth $903,000 after buying an additional 9,108 shares during the period. Asset Management One Co. Ltd. grew its holdings in shares of Charles Schwab by 7.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 637,957 shares of the financial services provider’s stock worth $47,674,000 after buying an additional 43,308 shares during the last quarter. Finally, Client 1ST Advisory Group LLC purchased a new stake in Charles Schwab during the 4th quarter valued at approximately $320,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Trading Up 2.0 %

Shares of Charles Schwab stock opened at $83.10 on Friday. The Charles Schwab Co. has a 1 year low of $61.01 and a 1 year high of $84.50. 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 business has a 50 day moving average price of $76.90 and a 200 day moving average price of $77.45. The company has a market capitalization of $150.71 billion, a P/E ratio of 27.79, a P/E/G ratio of 0.99 and a beta of 0.90.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.03. The company had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.46 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. During the same period in the previous year, the firm posted $0.74 earnings per share. Sell-side analysts anticipate that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 9th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.30%. Charles Schwab’s dividend payout ratio (DPR) is presently 32.73%.

Wall Street Analyst Weigh In

SCHW has been the topic of a number of recent research reports. Citigroup raised Charles Schwab from a “neutral” rating to a “buy” rating and boosted their target price for the company from $85.00 to $102.00 in a report on Wednesday, April 2nd. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Truist Financial lowered their target price on shares of Charles Schwab from $85.00 to $84.00 and set a “buy” rating on the stock in a report on Monday, April 21st. Redburn Partners cut their price target on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating for the company in a report on Friday, January 17th. Finally, Morgan Stanley upgraded Charles Schwab from an “equal weight” rating to an “overweight” rating and set a $76.00 target price on the stock in a research report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $87.22.

Insider Activity

In related news, insider Paul V. Woolway sold 3,380 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $79.32, for a total transaction of $268,101.60. Following the transaction, the insider now directly owns 57,818 shares in the company, valued at approximately $4,586,123.76. This represents a 5.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Walter W. Bettinger sold 464,629 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total value of $38,057,761.39. Following the completion of the sale, the chairman now directly owns 827,377 shares in the company, valued at approximately $67,770,450.07. The trade was a 35.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 503,041 shares of company stock valued at $41,072,558 over the last 90 days. Insiders own 6.30% of the company’s stock.

Charles Schwab Company 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.