The Charles Schwab Corporation (NYSE:SCHW) Stake Raised by Barrett Asset Management LLC

Barrett Asset Management LLC increased its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 23.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,730 shares of the financial services provider’s stock after acquiring an additional 2,650 shares during the period. Barrett Asset Management LLC’s holdings in The Charles Schwab were worth $601,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. American Century Companies Inc. lifted its stake in The Charles Schwab by 19.4% during the second quarter. American Century Companies Inc. now owns 4,139,650 shares of the financial services provider’s stock worth $177,839,000 after purchasing an additional 673,011 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of The Charles Schwab by 17.3% in the 2nd quarter. Principal Financial Group Inc. now owns 3,100,144 shares of the financial services provider’s stock valued at $133,182,000 after acquiring an additional 457,591 shares during the last quarter. Cubist Systematic Strategies LLC lifted its stake in shares of The Charles Schwab by 317.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 51,701 shares of the financial services provider’s stock valued at $2,221,000 after acquiring an additional 39,321 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of The Charles Schwab by 1.6% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,417,577 shares of the financial services provider’s stock valued at $103,859,000 after acquiring an additional 38,306 shares during the last quarter. Finally, CIBC World Markets Inc. bought a new position in shares of The Charles Schwab in the 2nd quarter valued at $282,000. 79.84% of the stock is currently owned by hedge funds and other institutional investors.

SCHW has been the subject of a number of recent research reports. BidaskClub downgraded The Charles Schwab from a “sell” rating to a “strong sell” rating in a report on Friday, September 8th. Morgan Stanley increased their price target on The Charles Schwab from $51.00 to $53.00 and gave the stock an “overweight” rating in a report on Thursday, October 5th. Barclays raised their target price on The Charles Schwab from $48.00 to $51.00 and gave the company an “overweight” rating in a research note on Tuesday, October 10th. Deutsche Bank raised their target price on The Charles Schwab from $46.00 to $47.00 and gave the company a “hold” rating in a research note on Wednesday, October 25th. Finally, Credit Suisse Group assumed coverage on The Charles Schwab in a research note on Thursday, November 30th. They issued an “outperform” rating and a $55.00 target price for the company. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The Charles Schwab presently has an average rating of “Buy” and a consensus target price of $47.56.

Shares of The Charles Schwab Corporation (NYSE SCHW) opened at $51.08 on Friday. The Charles Schwab Corporation has a 1-year low of $37.16 and a 1-year high of $51.89. The company has a market cap of $68,074.45, a P/E ratio of 32.55, a P/E/G ratio of 2.16 and a beta of 1.74. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.21.

The Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. The business had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.18 billion. The Charles Schwab had a net margin of 27.30% and a return on equity of 15.77%. The Charles Schwab’s revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.35 EPS. analysts expect that The Charles Schwab Corporation will post 1.62 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, November 24th. Stockholders of record on Friday, November 10th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, November 9th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.63%. The Charles Schwab’s dividend payout ratio (DPR) is currently 20.51%.

In other news, EVP Terri R. Kallsen sold 1,982 shares of the company’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $50.55, for a total transaction of $100,190.10. Following the completion of the transaction, the executive vice president now directly owns 1,706 shares of the company’s stock, valued at $86,238.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Peter B. Crawford sold 12,459 shares of the company’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $51.58, for a total transaction of $642,635.22. Following the transaction, the chief financial officer now directly owns 7,652 shares of the company’s stock, valued at $394,690.16. The disclosure for this sale can be found here. Insiders have sold a total of 1,778,324 shares of company stock valued at $82,710,964 over the last 90 days. Company insiders own 12.00% of the company’s stock.

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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.

Institutional Ownership by Quarter for The Charles Schwab (NYSE:SCHW)

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