Bowen Hanes & Co. Inc. Purchases 477,277 Shares of The Charles Schwab Co. (NYSE:SCHW)

Bowen Hanes & Co. Inc. lifted its holdings in The Charles Schwab Co. (NYSE:SCHW) by 402.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 595,931 shares of the financial services provider’s stock after buying an additional 477,277 shares during the quarter. Bowen Hanes & Co. Inc.’s holdings in Charles Schwab were worth $44,105,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. State Street Corp lifted its stake in shares of Charles Schwab by 0.7% in the 3rd quarter. State Street Corp now owns 62,076,447 shares of the financial services provider’s stock valued at $4,023,175,000 after purchasing an additional 414,949 shares during the period. Geode Capital Management LLC boosted its position in shares of Charles Schwab by 1.5% during the third quarter. Geode Capital Management LLC now owns 30,141,441 shares of the financial services provider’s stock worth $1,945,614,000 after buying an additional 445,304 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Charles Schwab by 6.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock worth $1,858,706,000 after acquiring an additional 1,711,312 shares during the last quarter. Franklin Resources Inc. grew its position in 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 purchasing an additional 3,157,923 shares in the last quarter. Finally, Fisher Asset Management LLC increased 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 during the last quarter. 84.38% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Charles Schwab news, insider Paul V. Woolway sold 9,887 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $75.38, for a total transaction of $745,282.06. Following the completion of the transaction, the insider now directly owns 47,931 shares of the company’s stock, valued at approximately $3,613,038.78. This trade represents a 17.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $80.70, for a total value of $1,181,690.10. The disclosure for this sale can be found here. Insiders sold a total of 501,087 shares of company stock worth $40,952,233 over the last 90 days. Company insiders own 6.60% of the company’s stock.

Wall Street Analyst Weigh In

SCHW has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised 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. Jefferies Financial Group increased their price target on Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Keefe, Bruyette & Woods raised their price target on shares of Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. TD Cowen upgraded Charles Schwab from a “hold” rating to a “buy” rating and lifted their price target for the company from $88.00 to $103.00 in a research note on Tuesday, February 18th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Charles Schwab from $98.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Charles Schwab currently has an average rating of “Hold” and a consensus target price of $86.33.

Charles Schwab Stock Up 2.5 %

NYSE:SCHW opened at $74.29 on Thursday. The stock has a fifty day simple moving average of $78.42 and a 200-day simple moving average of $74.16. 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 company has a market cap of $134.72 billion, a price-to-earnings ratio of 24.84, a price-to-earnings-growth ratio of 0.99 and a beta of 0.98. The Charles Schwab Co. has a twelve month low of $61.01 and a twelve month high of $84.50.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. The firm had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. Charles Schwab’s quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.68 earnings per share. Analysts anticipate that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a $0.27 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.45%. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s payout ratio is currently 36.12%.

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.