KBC Group NV increased its stake in shares of Charles Schwab Co. (NYSE:SCHW) by 8.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 205,202 shares of the financial services provider’s stock after purchasing an additional 16,657 shares during the period. KBC Group NV’s holdings in Charles Schwab were worth $10,716,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Rockefeller Capital Management L.P. acquired a new stake in Charles Schwab during the 1st quarter worth approximately $605,000. Lincoln National Corp lifted its holdings in Charles Schwab by 93.9% during the 1st quarter. Lincoln National Corp now owns 10,931 shares of the financial services provider’s stock worth $571,000 after buying an additional 5,295 shares in the last quarter. Silvant Capital Management LLC acquired a new stake in Charles Schwab during the 1st quarter worth approximately $7,176,000. Cambridge Investment Research Advisors Inc. lifted its holdings in Charles Schwab by 8.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 23,129 shares of the financial services provider’s stock worth $1,208,000 after buying an additional 1,870 shares in the last quarter. Finally, Korea Investment CORP lifted its holdings in Charles Schwab by 4.4% during the 1st quarter. Korea Investment CORP now owns 1,522,120 shares of the financial services provider’s stock worth $79,485,000 after buying an additional 64,548 shares in the last quarter. 80.16% of the stock is owned by hedge funds and other institutional investors.
Shares of SCHW opened at $58.14 on Friday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $79.51 billion, a PE ratio of 35.45, a PEG ratio of 1.45 and a beta of 1.56. Charles Schwab Co. has a twelve month low of $37.63 and a twelve month high of $60.22.
Charles Schwab (NYSE:SCHW) last posted its earnings results on Monday, April 16th. The financial services provider reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.01. The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.38 billion. Charles Schwab had a net margin of 28.80% and a return on equity of 16.84%. The company’s revenue was up 15.2% on a year-over-year basis. During the same period last year, the firm posted $0.39 EPS. equities analysts expect that Charles Schwab Co. will post 2.43 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 25th. Investors of record on Friday, May 11th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Thursday, May 10th. Charles Schwab’s dividend payout ratio (DPR) is 24.39%.
A number of research firms have issued reports on SCHW. Jefferies Group reiterated a “buy” rating and set a $65.00 target price on shares of Charles Schwab in a report on Friday, April 20th. Credit Suisse Group reduced their target price on shares of Charles Schwab from $70.00 to $69.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. SunTrust Banks reiterated a “buy” rating on shares of Charles Schwab in a report on Wednesday, February 14th. Citigroup lowered shares of Charles Schwab from a “neutral” rating to a “sell” rating and set a $49.00 price objective on the stock. in a report on Wednesday, February 7th. Finally, Morgan Stanley raised their price objective on shares of Charles Schwab from $61.00 to $63.00 and gave the company an “overweight” rating in a report on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $55.53.
In related news, EVP Jonathan M. Craig sold 10,000 shares of the stock in a transaction on Monday, May 21st. The shares were sold at an average price of $60.00, for a total value of $600,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Charles R. Schwab sold 210,750 shares of the stock in a transaction on Monday, May 21st. The shares were sold at an average price of $59.45, for a total transaction of $12,529,087.50. The disclosure for this sale can be found here. Insiders sold a total of 2,283,053 shares of company stock worth $129,331,230 over the last ninety days. Insiders own 11.50% of the company’s stock.
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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