Gateway Investment Advisers LLC reduced its position in Charles Schwab Corp (NYSE:SCHW) by 12.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 836,704 shares of the financial services provider’s stock after selling 113,710 shares during the quarter. Gateway Investment Advisers LLC owned about 0.06% of Charles Schwab worth $42,981,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Bogart Wealth LLC boosted its position in shares of Charles Schwab by 1,100.0% during the 4th quarter. Bogart Wealth LLC now owns 2,040 shares of the financial services provider’s stock worth $105,000 after purchasing an additional 1,870 shares in the last quarter. Zions Bancorporation boosted its position in shares of Charles Schwab by 1,545.3% during the 3rd quarter. Zions Bancorporation now owns 3,817 shares of the financial services provider’s stock worth $167,000 after purchasing an additional 3,585 shares in the last quarter. BLB&B Advisors LLC purchased a new stake in shares of Charles Schwab during the 4th quarter worth $220,000. Fruth Investment Management purchased a new stake in shares of Charles Schwab during the 4th quarter worth $226,000. Finally, Quadrant Capital Group LLC boosted its position in shares of Charles Schwab by 31.4% during the 2nd quarter. Quadrant Capital Group LLC now owns 4,531 shares of the financial services provider’s stock worth $168,000 after purchasing an additional 1,082 shares in the last quarter. 79.59% of the stock is currently owned by institutional investors.
In other news, insider Walter W. Bettinger bought 72,510 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was purchased at an average price of $27.21 per share, with a total value of $1,972,997.10. Following the purchase, the insider now owns 41,330 shares of the company’s stock, valued at approximately $1,124,589.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Peter B. Crawford sold 1,063 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $44.64, for a total transaction of $47,452.32. Following the completion of the transaction, the chief financial officer now directly owns 11,302 shares of the company’s stock, valued at approximately $504,521.28. The disclosure for this sale can be found here. Insiders sold a total of 1,658,531 shares of company stock valued at $77,397,901 in the last three months. 12.00% of the stock is currently owned by corporate insiders.
Shares of Charles Schwab Corp (NYSE:SCHW) traded up $0.14 during mid-day trading on Wednesday, reaching $55.53. 9,365,101 shares of the company traded hands, compared to its average volume of 6,651,870. Charles Schwab Corp has a 12-month low of $37.16 and a 12-month high of $56.13. The firm has a market cap of $74,960.00, a P/E ratio of 35.60, a price-to-earnings-growth ratio of 1.38 and a beta of 1.75. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.21.
Charles Schwab (NYSE:SCHW) last announced its earnings results on Wednesday, October 18th. The financial services provider reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.01. Charles Schwab had a net margin of 27.30% and a return on equity of 15.77%. The firm had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter in the previous year, the company posted $0.35 EPS. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. sell-side analysts predict that Charles Schwab Corp will post 1.61 EPS for the current year.
Several equities research analysts have commented on SCHW shares. Credit Suisse Group started coverage on shares of Charles Schwab in a research report on Thursday, November 30th. They issued an “outperform” rating and a $55.00 price objective on the stock. Wells Fargo & Co reiterated a “market perform” rating and issued a $55.00 price objective (up from $47.00) on shares of Charles Schwab in a research report on Thursday, January 4th. Zacks Investment Research upgraded shares of Charles Schwab from a “hold” rating to a “strong-buy” rating and set a $60.00 price objective on the stock in a research report on Friday, January 5th. Barclays boosted their price objective on shares of Charles Schwab from $48.00 to $51.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 10th. Finally, SunTrust Banks boosted their price objective on shares of Charles Schwab to $56.00 and gave the stock an “average” rating in a research report on Friday, December 15th. They noted that the move was a valuation call. Six investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $51.81.
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About Charles Schwab
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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