Point72 Europe London LLP Purchases Shares of 91,700 The Charles Schwab Co. (NYSE:SCHW)

Point72 Europe London LLP acquired a new position in shares of The Charles Schwab Co. (NYSE:SCHW) in the 4th quarter, Holdings Channel reports. The fund acquired 91,700 shares of the financial services provider’s stock, valued at approximately $6,787,000.

Other institutional investors also recently modified their holdings of 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 worth $2,483,000 after buying an additional 23,383 shares during the last quarter. Oregon Pacific Wealth Management LLC bought a new position in Charles Schwab in the fourth quarter valued at $688,000. Cary Street Partners Financial LLC purchased a new stake in Charles Schwab during the fourth quarter valued at about $1,455,000. Golden State Equity Partners lifted its stake in 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 purchasing an additional 9,108 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its holdings in shares of Charles Schwab by 7.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 637,957 shares of the financial services provider’s stock worth $47,674,000 after purchasing an additional 43,308 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on SCHW. Redburn Partners dropped their target price on Charles Schwab from $70.00 to $68.00 and set a “sell” rating for the company in a research report on Friday, January 17th. The Goldman Sachs Group raised shares of Charles Schwab from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research note on Friday, April 25th. TD Cowen upgraded shares of Charles Schwab from a “hold” rating to a “buy” rating and lifted their target price for the stock from $88.00 to $103.00 in a research report on Tuesday, February 18th. JPMorgan Chase & Co. upped their price target on shares of Charles Schwab from $92.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, April 21st. Finally, Morgan Stanley lifted their price objective on Charles Schwab from $76.00 to $83.00 and gave the stock an “overweight” rating in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $87.61.

Insider Transactions at Charles Schwab

In related news, insider Jonathan M. Craig sold 9,559 shares of the business’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $82.00, for a total transaction of $783,838.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul V. Woolway sold 3,380 shares of the firm’s 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 completion of the sale, the insider now owns 57,818 shares of the company’s stock, valued at $4,586,123.76. This trade 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 38,412 shares of company stock valued at $3,014,797. Company insiders own 6.30% of the company’s stock.

Charles Schwab Trading Up 0.9%

SCHW opened at $87.02 on Thursday. The Charles Schwab Co. has a one year low of $61.01 and a one year high of $87.29. 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 simple moving average of $78.11 and a two-hundred day simple moving average of $78.14. The firm has a market capitalization of $157.82 billion, a price-to-earnings ratio of 29.10, a PEG ratio of 0.99 and a beta of 0.90.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The company had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.46 billion. During the same quarter in the prior year, the company earned $0.74 earnings per share. Analysts predict that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 9th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.08 annualized dividend and a yield of 1.24%. Charles Schwab’s dividend payout ratio (DPR) is presently 32.73%.

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.