Doheny Asset Management CA Reduces Position in The Charles Schwab Co. (NYSE:SCHW)

Doheny Asset Management CA lessened its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 43.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 5,365 shares of the financial services provider’s stock after selling 4,200 shares during the quarter. Doheny Asset Management CA’s holdings in Charles Schwab were worth $369,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in SCHW. Massachusetts Financial Services Co. MA lifted its stake in Charles Schwab by 26.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 29,775,952 shares of the financial services provider’s stock worth $1,634,700,000 after acquiring an additional 6,195,934 shares during the period. Ameriprise Financial Inc. lifted its stake in Charles Schwab by 186.2% in the third quarter. Ameriprise Financial Inc. now owns 7,107,176 shares of the financial services provider’s stock worth $390,234,000 after acquiring an additional 4,624,302 shares during the period. Van ECK Associates Corp lifted its stake in Charles Schwab by 134.3% in the third quarter. Van ECK Associates Corp now owns 5,300,286 shares of the financial services provider’s stock worth $290,986,000 after acquiring an additional 3,038,517 shares during the period. Lazard Asset Management LLC lifted its stake in Charles Schwab by 31.1% in the third quarter. Lazard Asset Management LLC now owns 7,247,335 shares of the financial services provider’s stock worth $397,877,000 after acquiring an additional 1,717,137 shares during the period. Finally, Los Angeles Capital Management LLC lifted its stake in Charles Schwab by 3,123.9% in the third quarter. Los Angeles Capital Management LLC now owns 1,360,400 shares of the financial services provider’s stock worth $74,686,000 after acquiring an additional 1,318,203 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SCHW. StockNews.com raised Charles Schwab from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Barclays increased their price objective on Charles Schwab from $74.00 to $75.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 16th. Citigroup increased their price objective on Charles Schwab from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Deutsche Bank Aktiengesellschaft increased their price objective on Charles Schwab from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Finally, Keefe, Bruyette & Woods increased their price objective on Charles Schwab from $75.00 to $76.00 and gave the stock a “market perform” rating in a report on Tuesday, April 16th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $74.47.

Charles Schwab Stock Performance

NYSE SCHW traded up $0.55 during trading hours on Thursday, hitting $75.12. The company’s stock had a trading volume of 3,302,051 shares, compared to its average volume of 7,634,369. The Charles Schwab Co. has a 12 month low of $45.65 and a 12 month high of $75.55. The company’s 50 day simple moving average is $70.30 and its two-hundred day simple moving average is $64.40. The company has a market cap of $133.42 billion, a P/E ratio of 31.13, a price-to-earnings-growth ratio of 1.08 and a beta of 0.98. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.43 and a quick ratio of 0.43.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.00 annualized dividend and a yield of 1.33%. Charles Schwab’s payout ratio is 41.84%.

Insider Buying and Selling

In related news, Chairman Charles R. Schwab sold 89,275 shares of Charles Schwab stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $74.62, for a total value of $6,661,700.50. Following the completion of the sale, the chairman now directly owns 30,641,981 shares in the company, valued at approximately $2,286,504,622.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Charles Schwab news, Chairman Charles R. Schwab sold 58,500 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $64.60, for a total value of $3,779,100.00. Following the transaction, the chairman now directly owns 61,192,538 shares of the company’s stock, valued at $3,953,037,954.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Charles R. Schwab sold 89,275 shares of the firm’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $74.62, for a total value of $6,661,700.50. Following the completion of the transaction, the chairman now directly owns 30,641,981 shares in the company, valued at $2,286,504,622.22. The disclosure for this sale can be found here. In the last ninety days, insiders sold 514,459 shares of company stock worth $36,371,155. 6.60% of the stock is owned by corporate insiders.

Charles Schwab Profile

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.