Magnetar Financial LLC Invests $241,000 in The Charles Schwab Co. (NYSE:SCHW)

Magnetar Financial LLC acquired a new stake in The Charles Schwab Co. (NYSE:SCHW) in the fourth quarter, Holdings Channel reports. The firm acquired 3,250 shares of the financial services provider’s stock, valued at approximately $241,000.

Other large investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in shares of Charles Schwab by 0.6% during the third quarter. Principal Financial Group Inc. now owns 6,673,901 shares of the financial services provider’s stock worth $432,536,000 after buying an additional 38,201 shares in the last quarter. United Bank lifted its stake in Charles Schwab by 13.0% in the third quarter. United Bank now owns 11,352 shares of the financial services provider’s stock worth $736,000 after acquiring an additional 1,309 shares during the last quarter. Quest Partners LLC acquired a new position in Charles Schwab during the 3rd quarter worth approximately $270,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Charles Schwab by 6.5% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 193,881 shares of the financial services provider’s stock valued at $12,565,000 after purchasing an additional 11,777 shares during the last quarter. Finally, Intech Investment Management LLC raised its holdings in shares of Charles Schwab by 44.0% in the 3rd quarter. Intech Investment Management LLC now owns 36,281 shares of the financial services provider’s stock valued at $2,351,000 after purchasing an additional 11,087 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SCHW has been the subject of several analyst reports. TD Cowen raised Charles Schwab from a “hold” rating to a “buy” rating and upped their price objective for the stock from $88.00 to $103.00 in a research report on Tuesday, February 18th. Morgan Stanley increased their price target on shares of Charles Schwab from $84.00 to $91.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Wells Fargo & Company upgraded shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $89.00 to $93.00 in a research report on Wednesday, January 22nd. Truist Financial increased their target price on shares of Charles Schwab from $90.00 to $91.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Finally, Piper Sandler boosted their price target on shares of Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Two research 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $86.33.

Charles Schwab Stock Down 0.1 %

Charles Schwab stock opened at $78.47 on Monday. The stock has a 50 day moving average of $78.99 and a two-hundred day moving average of $74.87. The Charles Schwab Co. has a twelve month low of $61.01 and a twelve month high of $84.50. The stock has a market capitalization of $142.30 billion, a price-to-earnings ratio of 26.24, a PEG ratio of 0.99 and a beta of 0.98. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.11. The firm had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period last year, the company earned $0.68 earnings per share. As a group, research analysts expect that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.38%. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 14th. Charles Schwab’s payout ratio is 36.12%.

Insider Buying and Selling

In related news, General Counsel Peter J. Morgan III sold 14,643 shares of the firm’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul V. Woolway sold 9,887 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $75.38, for a total transaction of $745,282.06. Following the sale, the insider now directly owns 47,931 shares in the company, valued at approximately $3,613,038.78. This represents a 17.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 501,087 shares of company stock valued at $40,952,233 over the last ninety days. Corporate insiders own 6.60% of the company’s stock.

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.