Avanza Fonder AB Makes New $7.76 Million Investment in The Charles Schwab Co. (NYSE:SCHW)

Avanza Fonder AB bought a new stake in shares of The Charles Schwab Co. (NYSE:SCHW) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 104,890 shares of the financial services provider’s stock, valued at approximately $7,763,000.

A number of other hedge funds have also recently bought and sold shares of the company. Washington Trust Advisors Inc. grew its holdings in shares of Charles Schwab by 62.6% in the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 149 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in Charles Schwab in the third quarter valued at approximately $25,000. Prospera Private Wealth LLC purchased a new stake in Charles Schwab in the 3rd quarter worth about $31,000. Future Financial Wealth Managment LLC bought a new stake in Charles Schwab during the 3rd quarter valued at $32,000. Finally, Hazlett Burt & Watson Inc. bought a new stake in shares of Charles Schwab during the third quarter valued at about $33,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Charles Schwab

In other news, Director Christopher V. Dodds sold 9,284 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $81.43, for a total transaction of $755,996.12. Following the transaction, the director now directly owns 442,807 shares in the company, valued at approximately $36,057,774.01. This trade represents a 2.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan S. Beatty sold 2,500 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $77.02, for a total value of $192,550.00. Following the sale, the insider now owns 18,069 shares of the company’s stock, valued at approximately $1,391,674.38. This represents a 12.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,823 shares of company stock worth $2,171,194 over the last 90 days. Company insiders own 6.60% of the company’s stock.

Analyst Ratings Changes

SCHW has been the subject of several research analyst reports. JMP Securities reissued a “market outperform” rating and set a $94.00 price objective (up previously from $84.00) on shares of Charles Schwab in a research note on Monday, December 9th. Truist Financial raised Charles Schwab to a “strong-buy” rating in a research note on Monday, January 6th. Bank of America cut their price target on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a report on Wednesday, October 16th. Citigroup dropped their price target on Charles Schwab from $85.00 to $80.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Finally, Morgan Stanley raised their price objective on Charles Schwab from $68.00 to $74.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.63.

Charles Schwab Price Performance

NYSE:SCHW opened at $75.21 on Friday. The company has a market capitalization of $133.84 billion, a P/E ratio of 29.71, a P/E/G ratio of 1.19 and a beta of 0.99. The business’s 50-day moving average is $77.58 and its 200 day moving average is $70.60. 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 Charles Schwab Co. has a 12 month low of $61.01 and a 12 month high of $83.35.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.02. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the prior year, the firm posted $0.77 EPS. Charles Schwab’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, equities research analysts forecast that The Charles Schwab Co. will post 3.13 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date was Friday, November 8th. Charles Schwab’s dividend payout ratio (DPR) is currently 39.06%.

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.