The Charles Schwab Co. (NYSE:SCHW) Shares Bought by Grove Bank & Trust

Grove Bank & Trust grew its holdings in The Charles Schwab Co. (NYSE:SCHW) by 7.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,340 shares of the financial services provider’s stock after purchasing an additional 163 shares during the period. Grove Bank & Trust’s holdings in Charles Schwab were worth $173,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Franklin Resources Inc. boosted its stake in Charles Schwab by 15.0% during the third quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock worth $1,644,674,000 after buying an additional 3,157,923 shares during the period. Darsana Capital Partners LP boosted its position in shares of Charles Schwab by 200.0% during the 2nd quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the financial services provider’s stock worth $221,070,000 after purchasing an additional 2,000,000 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Charles Schwab by 6.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock valued at $1,858,706,000 after purchasing an additional 1,711,312 shares during the last quarter. AustralianSuper Pty Ltd raised its position in Charles Schwab by 2,617.6% in the third quarter. AustralianSuper Pty Ltd now owns 1,707,771 shares of the financial services provider’s stock valued at $110,681,000 after purchasing an additional 1,644,931 shares during the period. Finally, Two Sigma Advisers LP acquired a new position in Charles Schwab during the third quarter worth $86,845,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Charles Schwab Price Performance

Shares of NYSE:SCHW opened at $76.53 on Monday. 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 12 month low of $61.01 and a 12 month high of $83.35. The firm has a market capitalization of $136.20 billion, a P/E ratio of 29.90, a P/E/G ratio of 1.19 and a beta of 0.99. The company’s fifty day moving average price is $77.68 and its 200 day moving average price is $70.63.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.31%. The ex-dividend date was Friday, November 8th. Charles Schwab’s payout ratio is currently 39.06%.

Insider Activity at Charles Schwab

In other news, insider Nigel J. Murtagh sold 12,739 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $81.17, for a total transaction of $1,034,024.63. Following the completion of the sale, the insider now owns 59,092 shares in the company, valued at approximately $4,796,497.64. This represents a 17.73 % decrease in their ownership of the stock. The sale was disclosed in a filing 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 that occurred on Monday, November 11th. The shares were sold at an average price of $77.02, for a total value of $192,550.00. Following the sale, the insider now directly owns 18,069 shares of the company’s stock, valued at approximately $1,391,674.38. This represents a 12.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,823 shares of company stock valued at $2,171,194 in the last three months. 6.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on SCHW shares. JMP Securities reiterated a “market outperform” rating and issued a $94.00 price objective (up previously from $84.00) on shares of Charles Schwab in a report on Monday, December 9th. JPMorgan Chase & Co. increased their price target on shares of Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Piper Sandler raised their price objective on shares of Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods upped their target price on shares of Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a research note on Friday, December 20th. Finally, The Goldman Sachs Group raised their price target on shares of Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $81.41.

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.