Metropolitan Life Insurance Co. NY trimmed its position in Charles Schwab Co. (NYSE:SCHW) by 62.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 224,463 shares of the financial services provider’s stock after selling 380,428 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Charles Schwab were worth $11,531,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Zeke Capital Advisors LLC boosted its stake in shares of Charles Schwab by 4.8% in the fourth quarter. Zeke Capital Advisors LLC now owns 21,903 shares of the financial services provider’s stock valued at $1,125,000 after buying an additional 994 shares during the period. Laurel Wealth Advisors Inc. increased its holdings in Charles Schwab by 12.7% in the fourth quarter. Laurel Wealth Advisors Inc. now owns 8,855 shares of the financial services provider’s stock valued at $454,000 after purchasing an additional 996 shares during the period. Tower Bridge Advisors increased its holdings in Charles Schwab by 0.4% in the fourth quarter. Tower Bridge Advisors now owns 276,921 shares of the financial services provider’s stock valued at $14,225,000 after purchasing an additional 1,011 shares during the period. Frontier Investment Mgmt Co. increased its holdings in Charles Schwab by 8.2% in the fourth quarter. Frontier Investment Mgmt Co. now owns 14,631 shares of the financial services provider’s stock valued at $752,000 after purchasing an additional 1,112 shares during the period. Finally, Global X Management Co. LLC increased its holdings in Charles Schwab by 7.5% in the fourth quarter. Global X Management Co. LLC now owns 16,095 shares of the financial services provider’s stock valued at $827,000 after purchasing an additional 1,125 shares during the period. Institutional investors and hedge funds own 80.56% of the company’s stock.
In other news, Chairman Charles R. Schwab sold 300,000 shares of the company’s stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $55.31, for a total transaction of $16,593,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Terri R. Kallsen sold 2,026 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $51.94, for a total transaction of $105,230.44. Following the transaction, the executive vice president now directly owns 1,706 shares of the company’s stock, valued at $88,609.64. 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 ninety days. 12.00% of the stock is currently owned by insiders.
SCHW opened at $50.11 on Friday. The firm has a market cap of $70,487.85, a PE ratio of 30.55, a PEG ratio of 1.28 and a beta of 1.55. 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 one year low of $37.16 and a one year high of $58.11.
Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the previous year, the firm posted $0.36 EPS. The firm’s revenue was up 13.7% compared to the same quarter last year. sell-side analysts forecast that Charles Schwab Co. will post 2.4 EPS for the current fiscal year.
A number of analysts recently weighed in on SCHW shares. Citigroup restated a “neutral” rating on shares of Charles Schwab in a report on Friday, January 19th. Credit Suisse Group decreased their price target on Charles Schwab from $70.00 to $69.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. Zacks Investment Research downgraded Charles Schwab from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Deutsche Bank reduced their target price on Charles Schwab from $55.00 to $54.00 and set a “hold” rating for the company in a research note on Friday. Finally, Nomura restated a “neutral” rating and issued a $54.00 target price (up from $50.00) on shares of Charles Schwab in a research note on Thursday, January 18th. 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.
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Charles Schwab Company 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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