Lake Street Advisors Group LLC acquired a new position in Charles Schwab Co. (NYSE:SCHW) during the 4th quarter, HoldingsChannel reports. The firm acquired 8,728 shares of the financial services provider’s stock, valued at approximately $448,000.
Several other hedge funds also recently bought and sold shares of SCHW. Bogart Wealth LLC grew its position in Charles Schwab by 1,100.0% during the fourth quarter. Bogart Wealth LLC now owns 2,040 shares of the financial services provider’s stock valued at $105,000 after acquiring an additional 1,870 shares during the last quarter. Pinnacle Wealth Planning Services Inc. bought a new position in Charles Schwab during the fourth quarter valued at approximately $118,000. Acadian Asset Management LLC bought a new position in Charles Schwab during the fourth quarter valued at approximately $187,000. Zions Bancorporation grew its position in Charles Schwab by 1,545.3% during the third quarter. Zions Bancorporation now owns 3,817 shares of the financial services provider’s stock valued at $167,000 after acquiring an additional 3,585 shares during the last quarter. Finally, Fiduciary Trust Co. bought a new position in Charles Schwab during the fourth quarter valued at approximately $208,000. Institutional investors own 80.54% of the company’s stock.
Shares of SCHW stock opened at $55.97 on Wednesday. The firm has a market capitalization of $74,958.14, a P/E ratio of 34.76, a PEG ratio of 1.36 and a beta of 1.58. Charles Schwab Co. has a 52 week low of $37.16 and a 52 week high of $58.11. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.30 and a current ratio of 0.31.
Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. Charles Schwab had a return on equity of 16.03% and a net margin of 27.32%. The company had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same quarter last year, the firm posted $0.36 earnings per share. The firm’s revenue was up 13.7% on a year-over-year basis. sell-side analysts forecast that Charles Schwab Co. will post 2.4 EPS 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 paid a $0.10 dividend. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $0.40 dividend on an annualized basis and a yield of 0.71%. Charles Schwab’s dividend payout ratio (DPR) is presently 24.84%.
A number of research analysts have commented on the stock. Credit Suisse Group reduced their price target on shares of Charles Schwab from $70.00 to $69.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. Citigroup reiterated a “buy” rating and set a $60.00 price target (up from $52.00) on shares of Charles Schwab in a research report on Tuesday, January 9th. Morgan Stanley increased their price target on shares of Charles Schwab from $61.00 to $63.00 and gave the company an “overweight” rating in a research report on Tuesday, January 30th. SunTrust Banks reiterated a “buy” rating on shares of Charles Schwab in a research report on Wednesday, February 14th. Finally, Nomura reiterated a “neutral” rating and set a $54.00 price target (up from $50.00) on shares of Charles Schwab in a research report on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. Charles Schwab presently has an average rating of “Hold” and an average price target of $54.64.
In related news, Chairman Charles R. Schwab sold 300,000 shares of the firm’s stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jonathan M. Craig sold 5,000 shares of the firm’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $58.01, for a total value of $290,050.00. The disclosure for this sale can be found here. Insiders sold 922,251 shares of company stock valued at $50,343,908 in the last ninety days. 12.00% of the stock is currently owned by insiders.
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Charles Schwab Profile
The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.
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