W.G. Shaheen & Associates DBA Whitney & Co bought a new position in shares of Charles Schwab Corp (NYSE:SCHW) in the 4th quarter, HoldingsChannel reports. The fund bought 4,744 shares of the financial services provider’s stock, valued at approximately $244,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Atria Investments LLC boosted its stake in shares of Charles Schwab by 11.8% during the fourth quarter. Atria Investments LLC now owns 18,096 shares of the financial services provider’s stock worth $930,000 after buying an additional 1,907 shares during the period. State of Alaska Department of Revenue boosted its stake in shares of Charles Schwab by 311.7% during the fourth quarter. State of Alaska Department of Revenue now owns 141,615 shares of the financial services provider’s stock worth $7,272,000 after buying an additional 107,221 shares during the period. Peregrine Asset Advisers Inc. acquired a new stake in shares of Charles Schwab during the fourth quarter worth about $5,306,000. Bank of The West boosted its stake in shares of Charles Schwab by 1.9% during the fourth quarter. Bank of The West now owns 105,131 shares of the financial services provider’s stock worth $5,400,000 after buying an additional 1,948 shares during the period. Finally, CAPROCK Group Inc. boosted its stake in shares of Charles Schwab by 22.3% during the third quarter. CAPROCK Group Inc. now owns 6,532 shares of the financial services provider’s stock worth $286,000 after buying an additional 1,190 shares during the period. Institutional investors and hedge funds own 80.45% of the company’s stock.
In other news, insider Walter W. Bettinger sold 262,309 shares of Charles Schwab stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $48.15, for a total transaction of $12,630,178.35. Following the completion of the sale, the insider now directly owns 539,773 shares in the company, valued at approximately $25,990,069.95. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Walter W. Bettinger sold 156,100 shares of Charles Schwab stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $50.05, for a total transaction of $7,812,805.00. Following the sale, the insider now owns 433,564 shares of the company’s stock, valued at $21,699,878.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,723,394 shares of company stock valued at $89,004,177. Insiders own 12.00% of the company’s stock.
Shares of Charles Schwab Corp (NYSE:SCHW) traded up $0.61 during trading hours on Thursday, reaching $52.91. 305,509 shares of the company were exchanged, compared to its average volume of 7,429,928. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.30 and a current ratio of 0.31. The firm has a market capitalization of $70,110.00, a P/E ratio of 33.10, a P/E/G ratio of 1.29 and a beta of 1.63. Charles Schwab Corp has a 1 year low of $37.16 and a 1 year high of $56.25.
Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.44 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.03. Charles Schwab had a net margin of 27.32% and a return on equity of 16.31%. The firm had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter last year, the firm earned $0.36 earnings per share. The firm’s revenue was up 13.7% compared to the same quarter last year. analysts predict that Charles Schwab Corp will post 2.39 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Friday, February 9th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.76%. This is an increase from Charles Schwab’s previous quarterly dividend of $0.08. The ex-dividend date is Thursday, February 8th. Charles Schwab’s dividend payout ratio (DPR) is presently 25.32%.
Several equities research analysts have recently weighed in on the stock. Credit Suisse Group reiterated a “positive” rating and set a $70.00 target price (up previously from $64.00) on shares of Charles Schwab in a research note on Thursday, January 18th. Nomura reiterated a “neutral” rating and set a $54.00 target price (up previously from $50.00) on shares of Charles Schwab in a research note on Thursday, January 18th. Argus increased their target price on shares of Charles Schwab from $59.00 to $69.00 and gave the stock a “buy” rating in a research note on Thursday, January 18th. Citigroup reiterated a “neutral” rating on shares of Charles Schwab in a research note on Friday, January 19th. Finally, Morgan Stanley increased their target price on shares of Charles Schwab from $61.00 to $63.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $53.88.
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Charles Schwab Company 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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