EP Wealth Advisors LLC lifted its stake in Charles Schwab Co. (NYSE:SCHW) by 1.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 208,306 shares of the financial services provider’s stock after buying an additional 2,871 shares during the quarter. Charles Schwab comprises 1.1% of EP Wealth Advisors LLC’s portfolio, making the stock its 28th biggest holding. EP Wealth Advisors LLC’s holdings in Charles Schwab were worth $10,701,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of SCHW. BlackRock Inc. raised its stake in shares of Charles Schwab by 5.2% in the fourth quarter. BlackRock Inc. now owns 79,858,312 shares of the financial services provider’s stock worth $4,102,323,000 after buying an additional 3,943,376 shares during the period. Maverick Capital Ltd. bought a new position in shares of Charles Schwab in the fourth quarter worth about $161,834,000. Amundi Pioneer Asset Management Inc. raised its stake in shares of Charles Schwab by 90.2% in the third quarter. Amundi Pioneer Asset Management Inc. now owns 4,887,840 shares of the financial services provider’s stock worth $213,794,000 after buying an additional 2,318,498 shares during the period. Edgewood Management LLC raised its stake in shares of Charles Schwab by 8.4% in the third quarter. Edgewood Management LLC now owns 20,125,345 shares of the financial services provider’s stock worth $880,283,000 after buying an additional 1,559,733 shares during the period. Finally, Atlantic Trust Group LLC raised its stake in shares of Charles Schwab by 851.8% in the third quarter. Atlantic Trust Group LLC now owns 1,492,315 shares of the financial services provider’s stock worth $65,274,000 after buying an additional 1,335,522 shares during the period. 80.56% of the stock is currently owned by hedge funds and other institutional investors.
SCHW has been the topic of several recent research reports. Zacks Investment Research raised Charles Schwab from a “hold” rating to a “strong-buy” rating and set a $60.00 price objective on the stock in a research note on Friday, January 5th. Wells Fargo reissued 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. SunTrust Banks reissued a “buy” rating and set a $63.00 target price (up previously from $56.00) on shares of Charles Schwab in a research note on Tuesday, December 26th. Credit Suisse Group reissued a “buy” rating and set a $64.00 target price (up previously from $55.00) on shares of Charles Schwab in a research note on Friday, January 12th. Finally, Argus lifted their target price on Charles Schwab from $59.00 to $69.00 and gave the company a “buy” rating in a research note on Thursday, January 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $55.14.
NYSE SCHW opened at $50.11 on Friday. The company has a market cap of $69,679.97, a price-to-earnings ratio of 30.55, a PEG ratio of 1.27 and a beta of 1.55. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.31 and a quick ratio of 0.30. Charles Schwab Co. has a 1-year low of $37.16 and a 1-year high of $58.11.
Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.03. The business had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Charles Schwab had a return on equity of 16.03% and a net margin of 27.32%. The firm’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.36 EPS. research analysts forecast that Charles Schwab Co. will post 2.4 EPS for the current fiscal year.
In other news, Chairman Charles R. Schwab sold 240,000 shares of Charles Schwab stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $55.13, for a total value of $13,231,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jonathan M. Craig sold 5,000 shares of Charles Schwab stock in a transaction that occurred on Monday, March 12th. The stock was 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 have sold a total of 920,225 shares of company stock valued at $50,239,974 in the last 90 days. 12.00% of the stock is currently owned by company 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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