Element Capital Management LLC purchased a new position in shares of Charles Schwab Co. (NYSE:SCHW) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 919,585 shares of the financial services provider’s stock, valued at approximately $47,239,000. Charles Schwab comprises 1.0% of Element Capital Management LLC’s holdings, making the stock its 16th biggest holding. Element Capital Management LLC owned approximately 0.07% of Charles Schwab at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Bogart Wealth LLC boosted its stake in shares of Charles Schwab by 1,100.0% in the fourth quarter. Bogart Wealth LLC now owns 2,040 shares of the financial services provider’s stock valued at $105,000 after buying an additional 1,870 shares during the period. Pinnacle Wealth Planning Services Inc. bought a new stake in Charles Schwab during the fourth quarter worth $118,000. Zions Bancorporation lifted its stake 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 worth $167,000 after purchasing an additional 3,585 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Charles Schwab during the fourth quarter worth $187,000. Finally, Fiduciary Trust Co. bought a new stake in Charles Schwab during the fourth quarter worth $208,000. 80.56% of the stock is currently owned by hedge funds and other institutional investors.
Shares of SCHW stock opened at $50.11 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.30. Charles Schwab Co. has a 12-month low of $37.16 and a 12-month high of $58.11. The company has a market cap of $70,487.85, a PE ratio of 30.55, a P/E/G ratio of 1.28 and a beta of 1.55.
Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.44 earnings per share 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 16.03%. The business had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period in the previous year, the business earned $0.36 EPS. Charles Schwab’s revenue was up 13.7% compared to the same quarter last year. equities analysts forecast that Charles Schwab Co. will post 2.4 earnings per share for the current fiscal year.
A number of brokerages have recently commented on SCHW. Deutsche Bank dropped their price target on Charles Schwab from $55.00 to $54.00 and set a “hold” rating for the company in a research note on Friday. Wells Fargo reiterated a “market perform” rating and set a $55.00 price target (up from $47.00) on shares of Charles Schwab in a report on Thursday, January 4th. Zacks Investment Research downgraded Charles Schwab from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. SunTrust Banks restated a “buy” rating on shares of Charles Schwab in a research note on Wednesday, February 14th. Finally, JMP Securities downgraded Charles Schwab from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. Charles Schwab has an average rating of “Hold” and a consensus price target of $55.14.
In other news, EVP Jonathan M. Craig sold 5,000 shares of Charles Schwab stock in a transaction on Monday, March 12th. The shares were sold at an average price of $58.01, for a total transaction of $290,050.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jonathan M. Craig sold 8,046 shares of the business’s stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $54.31, for a total transaction of $436,978.26. 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 over the last 90 days. Company insiders own 12.00% of the company’s stock.
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About Charles Schwab
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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