Cookson Peirce & Co. Inc. lessened its holdings in Charles Schwab Corp (NYSE:SCHW) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 208,470 shares of the financial services provider’s stock after selling 1,380 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in Charles Schwab were worth $10,709,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of SCHW. Eqis Capital Management Inc. bought a new position in Charles Schwab during the 3rd quarter worth approximately $313,000. CAPROCK Group Inc. raised its holdings in Charles Schwab by 22.3% during the 3rd quarter. CAPROCK Group Inc. now owns 6,532 shares of the financial services provider’s stock worth $286,000 after purchasing an additional 1,190 shares during the last quarter. Harrington Investments INC bought a new position in Charles Schwab during the 3rd quarter worth approximately $2,548,000. David R. Rahn & Associates Inc. bought a new position in Charles Schwab during the 3rd quarter worth approximately $894,000. Finally, Xact Kapitalforvaltning AB raised its holdings in Charles Schwab by 1.9% during the 3rd quarter. Xact Kapitalforvaltning AB now owns 179,760 shares of the financial services provider’s stock worth $7,863,000 after purchasing an additional 3,437 shares during the last quarter. Institutional investors and hedge funds own 80.45% of the company’s stock.
In related news, insider Marie A. Chandoha sold 56,327 shares of Charles Schwab stock in a transaction on Monday, November 27th. The shares were sold at an average price of $45.86, for a total value of $2,583,156.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Walter W. Bettinger sold 262,309 shares of Charles Schwab stock in a transaction 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 of the company’s stock, valued at approximately $25,990,069.95. The disclosure for this sale can be found here. In the last three months, insiders sold 1,723,394 shares of company stock valued at $89,004,177. 12.00% of the stock is currently owned by insiders.
Shares of Charles Schwab Corp (NYSE SCHW) opened at $52.03 on Friday. Charles Schwab Corp has a 52-week low of $37.16 and a 52-week 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 stock has a market cap of $70,112.13, a price-to-earnings ratio of 31.89, a P/E/G ratio of 1.29 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 (EPS) for the quarter, beating the 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 business 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 posted $0.36 EPS. Charles Schwab’s revenue was up 13.7% compared to the same quarter last year. equities analysts forecast that Charles Schwab Corp will post 2.39 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Friday, February 9th will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $0.40 annualized dividend and a yield of 0.77%. This is an increase from Charles Schwab’s previous quarterly dividend of $0.08. Charles Schwab’s dividend payout ratio (DPR) is presently 24.84%.
Several research analysts have issued reports on the stock. SunTrust Banks restated a “buy” rating on shares of Charles Schwab in a report on Wednesday, February 14th. Citigroup lowered shares of Charles Schwab from a “neutral” rating to a “sell” rating and set a $49.00 price objective for the company. in a research note on Wednesday, February 7th. Wells Fargo & Co reiterated a “market perform” rating and issued a $55.00 price objective (up previously from $47.00) on shares of Charles Schwab in a research note on Thursday, January 4th. Credit Suisse Group lowered their price objective on shares of Charles Schwab from $70.00 to $69.00 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. Finally, Morgan Stanley lifted their price objective on shares of Charles Schwab from $61.00 to $63.00 and gave the company an “overweight” rating in a research note on Tuesday, January 30th. One analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average 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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