Segment Wealth Management LLC grew its holdings in Charles Schwab Corp (NYSE:SCHW) by 3.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 81,797 shares of the financial services provider’s stock after acquiring an additional 3,073 shares during the quarter. Charles Schwab accounts for about 1.0% of Segment Wealth Management LLC’s investment portfolio, making the stock its 27th largest holding. Segment Wealth Management LLC’s holdings in Charles Schwab were worth $4,202,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the stock. Thrivent Financial For Lutherans grew its stake in Charles Schwab by 3.1% in the second quarter. Thrivent Financial For Lutherans now owns 46,035 shares of the financial services provider’s stock valued at $1,978,000 after purchasing an additional 1,400 shares in the last quarter. MML Investors Services LLC lifted its position in shares of Charles Schwab by 25.5% in the second quarter. MML Investors Services LLC now owns 10,569 shares of the financial services provider’s stock valued at $454,000 after buying an additional 2,148 shares during the last quarter. Suntrust Banks Inc. lifted its position in shares of Charles Schwab by 5.9% in the second quarter. Suntrust Banks Inc. now owns 120,544 shares of the financial services provider’s stock valued at $5,177,000 after buying an additional 6,734 shares during the last quarter. Cibc World Markets Corp lifted its position in shares of Charles Schwab by 35.5% in the second quarter. Cibc World Markets Corp now owns 171,944 shares of the financial services provider’s stock valued at $7,387,000 after buying an additional 45,072 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of Charles Schwab by 47.8% in the second quarter. Nordea Investment Management AB now owns 244,889 shares of the financial services provider’s stock valued at $10,520,000 after buying an additional 79,155 shares during the last quarter. Institutional investors and hedge funds own 79.47% of the company’s stock.
In other news, Chairman Charles R. Schwab sold 300,000 shares of the company’s stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $55.31, for a total value of $16,593,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Terri R. Kallsen sold 1,982 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $50.55, for a total value 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 disclosure for this sale can be found here. Insiders have sold a total of 2,008,944 shares of company stock valued at $101,205,520 over the last three months. Corporate insiders own 12.00% of the company’s stock.
Several research firms recently weighed in on SCHW. SunTrust Banks reissued a “buy” rating on shares of Charles Schwab in a report on Wednesday. Credit Suisse Group dropped their price objective on Charles Schwab from $70.00 to $69.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. Citigroup cut Charles Schwab from a “neutral” rating to a “sell” rating and set a $49.00 price objective for the company. in a report on Wednesday, February 7th. Morgan Stanley lifted their price target on Charles Schwab from $61.00 to $63.00 and gave the company an “overweight” rating in a research note on Tuesday, January 30th. Finally, Nomura reiterated a “neutral” rating and issued a $54.00 price target (up previously from $50.00) on shares of Charles Schwab in a research note on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $53.88.
Shares of Charles Schwab Corp (NYSE SCHW) traded up $1.25 during trading hours on Wednesday, hitting $52.40. The stock had a trading volume of 5,967,854 shares, compared to its average volume of 8,000,000. Charles Schwab Corp has a 12 month low of $37.16 and a 12 month high of $56.25. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.31 and a quick ratio of 0.30. The firm has a market cap of $70,250.00, a P/E ratio of 32.55, a price-to-earnings-growth ratio of 1.26 and a beta of 1.63.
Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. Charles Schwab had a return on equity of 16.31% and a net margin of 27.32%. The business had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the prior year, the business earned $0.36 EPS. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. research analysts predict that Charles Schwab Corp will post 2.37 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Friday, February 9th will be paid a dividend of $0.10 per share. This is an increase from Charles Schwab’s previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend is Thursday, February 8th. Charles Schwab’s dividend payout ratio is 24.84%.
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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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