Virtu Financial LLC bought a new stake in shares of Charles Schwab Corp (NYSE:SCHW) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 20,438 shares of the financial services provider’s stock, valued at approximately $1,050,000.
Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in Charles Schwab by 5.2% in the 4th quarter. BlackRock Inc. now owns 79,858,312 shares of the financial services provider’s stock worth $4,102,323,000 after acquiring an additional 3,943,376 shares during the last quarter. Edgewood Management LLC grew its holdings in Charles Schwab by 8.4% in the 3rd quarter. Edgewood Management LLC now owns 20,125,345 shares of the financial services provider’s stock worth $880,283,000 after acquiring an additional 1,559,733 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Charles Schwab by 0.5% in the 4th quarter. Bank of New York Mellon Corp now owns 13,721,562 shares of the financial services provider’s stock worth $704,877,000 after acquiring an additional 65,464 shares during the last quarter. Jackson Square Partners LLC grew its holdings in Charles Schwab by 13.8% in the 3rd quarter. Jackson Square Partners LLC now owns 10,807,952 shares of the financial services provider’s stock worth $472,739,000 after acquiring an additional 1,307,627 shares during the last quarter. Finally, Ruane Cunniff & Goldfarb Inc. grew its holdings in Charles Schwab by 1.6% in the 3rd quarter. Ruane Cunniff & Goldfarb Inc. now owns 8,348,548 shares of the financial services provider’s stock worth $365,165,000 after acquiring an additional 133,869 shares during the last quarter. 80.45% of the stock is currently owned by institutional investors.
Charles Schwab Corp (NYSE:SCHW) opened at $52.74 on Friday. Charles Schwab Corp has a 12-month low of $37.16 and a 12-month high of $56.25. The stock has a market cap of $71,012.99, a PE ratio of 32.76, a P/E/G ratio of 1.29 and a beta of 1.63. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.30 and a current ratio of 0.31.
Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. Charles Schwab had a net margin of 27.32% and a return on equity of 16.31%. The company had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same period last year, the company posted $0.36 EPS. Charles Schwab’s revenue was up 13.7% on a year-over-year basis. equities analysts anticipate that Charles Schwab Corp will post 2.4 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were given a dividend of $0.10 per share. This is a boost 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 was Thursday, February 8th. Charles Schwab’s dividend payout ratio (DPR) is 24.84%.
A number of brokerages have issued reports on SCHW. SunTrust Banks reissued a “buy” rating on shares of Charles Schwab in a report on Wednesday, February 14th. Wells Fargo & Co reaffirmed a “market perform” rating and set a $55.00 target price (up previously from $47.00) on shares of Charles Schwab in a research note on Thursday, January 4th. Citigroup lowered shares of Charles Schwab from a “neutral” rating to a “sell” rating and set a $49.00 target price on the stock. in a research note on Wednesday, February 7th. JMP Securities lowered shares of Charles Schwab from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 3rd. Finally, Credit Suisse Group cut their target price on shares of Charles Schwab from $70.00 to $69.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. One analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $53.88.
In related news, insider Marie A. Chandoha sold 56,327 shares of Charles Schwab stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $45.86, for a total transaction of $2,583,156.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Charles R. Schwab sold 74,450 shares of Charles Schwab stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $52.17, for a total transaction of $3,884,056.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,723,394 shares of company stock valued at $89,004,177. 12.00% of the stock is currently owned by corporate insiders.
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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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