FDO Partners LLC acquired a new position in shares of The Charles Schwab Corporation (NYSE:SCHW) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 6,718 shares of the financial services provider’s stock, valued at approximately $294,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Shine Investment Advisory Services Inc. bought a new position in The Charles Schwab in the 2nd quarter worth about $145,000. Fiduciary Trust Co. bought a new position in shares of The Charles Schwab in the second quarter valued at approximately $163,000. Paradigm Asset Management Co. LLC boosted its holdings in shares of The Charles Schwab by 4.7% in the second quarter. Paradigm Asset Management Co. LLC now owns 4,450 shares of the financial services provider’s stock valued at $191,000 after acquiring an additional 200 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of The Charles Schwab by 31.4% in the second quarter. Quadrant Capital Group LLC now owns 4,531 shares of the financial services provider’s stock valued at $168,000 after acquiring an additional 1,082 shares in the last quarter. Finally, Sigma Investment Counselors Inc. bought a new position in shares of The Charles Schwab in the second quarter valued at approximately $201,000. Hedge funds and other institutional investors own 79.84% of the company’s stock.
In other news, EVP Bernard J. Clark sold 50,444 shares of the stock in a transaction on Monday, December 4th. The shares were sold at an average price of $50.52, for a total transaction of $2,548,430.88. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Walter W. Bettinger sold 156,100 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $50.05, for a total transaction of $7,812,805.00. Following the transaction, the insider now owns 433,564 shares in the company, valued at approximately $21,699,878.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,764,883 shares of company stock valued at $82,007,128. Insiders own 12.00% of the company’s stock.
Several research analysts have recently issued reports on the stock. BidaskClub cut shares of The Charles Schwab from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $47.00 price objective on shares of The Charles Schwab in a report on Friday, September 15th. Credit Suisse Group assumed coverage on shares of The Charles Schwab in a report on Thursday, November 30th. They issued an “outperform” rating and a $55.00 price objective for the company. Jefferies Group reiterated a “buy” rating and issued a $49.00 price objective on shares of The Charles Schwab in a report on Friday, September 15th. Finally, Barclays assumed coverage on shares of The Charles Schwab in a report on Friday, September 8th. They issued an “overweight” rating and a $48.00 price objective for the company. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $47.56.
Shares of The Charles Schwab Corporation (NYSE SCHW) traded up $2.05 during trading hours on Tuesday, hitting $51.55. 13,058,500 shares of the company traded hands, compared to its average volume of 7,080,300. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.21. The stock has a market cap of $69,030.00, a P/E ratio of 31.73, a PEG ratio of 2.11 and a beta of 1.74. The Charles Schwab Corporation has a fifty-two week low of $37.16 and a fifty-two week high of $51.89.
The Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.01. The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.18 billion. The Charles Schwab had a net margin of 27.30% and a return on equity of 15.77%. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.35 EPS. sell-side analysts predict that The Charles Schwab Corporation will post 1.62 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, November 24th. Shareholders of record on Friday, November 10th were given a $0.08 dividend. The ex-dividend date was Thursday, November 9th. This represents a $0.32 dividend on an annualized basis and a yield of 0.62%. The Charles Schwab’s payout ratio is 20.51%.
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The Charles Schwab Profile
The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.
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