Steward Partners Investment Advisory LLC lessened its stake in The Charles Schwab Co. (NYSE:SCHW – Get Rating) by 11.7% in the 1st quarter, Holdings Channel.com reports. The firm owned 12,763 shares of the financial services provider’s stock after selling 1,686 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Charles Schwab were worth $1,076,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the stock. State Street Corp raised its position in shares of Charles Schwab by 6.6% in the 4th quarter. State Street Corp now owns 69,667,441 shares of the financial services provider’s stock worth $5,859,032,000 after purchasing an additional 4,305,161 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Charles Schwab by 1.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 34,047,187 shares of the financial services provider’s stock worth $2,863,369,000 after buying an additional 496,137 shares during the last quarter. Geode Capital Management LLC raised its position in Charles Schwab by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 24,307,246 shares of the financial services provider’s stock worth $2,038,366,000 after buying an additional 681,202 shares during the last quarter. Alliancebernstein L.P. raised its position in Charles Schwab by 1.4% in the 4th quarter. Alliancebernstein L.P. now owns 19,578,136 shares of the financial services provider’s stock worth $1,646,522,000 after buying an additional 267,209 shares during the last quarter. Finally, Norges Bank purchased a new position in Charles Schwab in the 4th quarter worth about $1,127,795,000. Hedge funds and other institutional investors own 87.13% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft boosted their target price on Charles Schwab from $81.00 to $82.00 in a research report on Tuesday, July 19th. Citigroup boosted their target price on Charles Schwab from $87.50 to $90.00 and gave the stock a “buy” rating in a research report on Friday, April 22nd. UBS Group raised Charles Schwab from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $68.00 to $75.00 in a research report on Tuesday, June 21st. The Goldman Sachs Group began coverage on Charles Schwab in a research note on Tuesday, April 26th. They set a “neutral” rating and a $75.00 price target for the company. Finally, Morgan Stanley cut their price target on Charles Schwab from $123.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, July 13th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Charles Schwab presently has an average rating of “Moderate Buy” and a consensus price target of $91.58.
Insiders Place Their Bets
In other Charles Schwab news, Chairman Charles R. Schwab sold 120,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $62.70, for a total value of $7,524,000.00. Following the completion of the transaction, the chairman now directly owns 71,083,305 shares in the company, valued at approximately $4,456,923,223.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Walter W. Bettinger acquired 63,188 shares of the firm’s stock in a transaction dated Friday, April 29th. The shares were acquired at an average cost of $67.07 per share, with a total value of $4,238,019.16. Following the acquisition, the chief executive officer now directly owns 432,625 shares of the company’s stock, valued at $29,016,158.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Charles R. Schwab sold 120,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $62.70, for a total value of $7,524,000.00. Following the sale, the chairman now directly owns 71,083,305 shares in the company, valued at $4,456,923,223.50. The disclosure for this sale can be found here. 6.90% of the stock is currently owned by corporate insiders.
Charles Schwab Trading Up 1.1 %
Shares of NYSE:SCHW opened at $63.66 on Tuesday. The stock has a 50 day moving average of $64.17 and a 200 day moving average of $76.31. The company has a market cap of $115.67 billion, a PE ratio of 20.94, a price-to-earnings-growth ratio of 0.76 and a beta of 1.10. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.58. The Charles Schwab Co. has a 12-month low of $59.35 and a 12-month high of $96.24.
Charles Schwab (NYSE:SCHW – Get Rating) last announced its quarterly earnings data on Monday, July 18th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.06. Charles Schwab had a return on equity of 15.86% and a net margin of 33.09%. The company had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.04 billion. During the same period in the previous year, the company posted $0.70 EPS. The firm’s revenue was up 12.5% on a year-over-year basis. As a group, equities research analysts expect that The Charles Schwab Co. will post 3.88 EPS for the current year.
Charles Schwab Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, May 27th. Shareholders of record on Friday, May 13th were paid a $0.20 dividend. The ex-dividend date was Thursday, May 12th. This represents a $0.80 annualized dividend and a yield of 1.26%. Charles Schwab’s payout ratio is 26.32%.
Charles Schwab Profile
The Charles Schwab Corporation, together with its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates in two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage, investment advisory, banking and trust, retirement plan, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor and mutual fund clearing services, as well as compliance solutions.
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