Picton Mahoney Asset Management Invests $15.15 Million in The Charles Schwab Co. (NYSE:SCHW)

Picton Mahoney Asset Management acquired a new stake in shares of The Charles Schwab Co. (NYSE:SCHW) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 220,226 shares of the financial services provider’s stock, valued at approximately $15,150,000.

A number of other large investors also recently modified their holdings of SCHW. Investment Research & Advisory Group Inc. boosted its holdings in Charles Schwab by 1.0% during the 4th quarter. Investment Research & Advisory Group Inc. now owns 58,979 shares of the financial services provider’s stock valued at $4,058,000 after acquiring an additional 607 shares during the period. Bamco Inc. NY boosted its stake in shares of Charles Schwab by 0.5% during the third quarter. Bamco Inc. NY now owns 8,102,475 shares of the financial services provider’s stock valued at $444,826,000 after purchasing an additional 42,588 shares during the period. Retirement Systems of Alabama grew its holdings in shares of Charles Schwab by 13.0% in the fourth quarter. Retirement Systems of Alabama now owns 1,329,388 shares of the financial services provider’s stock worth $91,462,000 after purchasing an additional 152,967 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Charles Schwab by 43.2% in the third quarter. Nisa Investment Advisors LLC now owns 551,682 shares of the financial services provider’s stock worth $30,287,000 after buying an additional 166,316 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in Charles Schwab by 22.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 883,379 shares of the financial services provider’s stock valued at $60,776,000 after buying an additional 160,719 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Stock Down 1.7 %

Shares of SCHW traded down $1.32 during mid-day trading on Tuesday, reaching $75.54. The company had a trading volume of 7,336,819 shares, compared to its average volume of 7,602,173. The Charles Schwab Co. has a 52 week low of $46.55 and a 52 week high of $77.05. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market capitalization of $134.16 billion, a price-to-earnings ratio of 31.61, a price-to-earnings-growth ratio of 1.11 and a beta of 0.98. The firm has a 50-day moving average price of $71.20 and a 200 day moving average price of $65.15.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be paid a $0.25 dividend. The ex-dividend date is Thursday, May 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.32%. Charles Schwab’s dividend payout ratio is currently 41.84%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SCHW shares. JPMorgan Chase & Co. boosted their price objective on shares of Charles Schwab from $86.00 to $89.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. 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. Keefe, Bruyette & Woods boosted their target price on Charles Schwab from $75.00 to $76.00 and gave the company a “market perform” rating in a research note on Tuesday, April 16th. StockNews.com raised Charles Schwab from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Finally, Raymond James reduced their price objective on shares of Charles Schwab from $78.00 to $75.00 and set an “outperform” rating on the stock in a research report on Thursday, January 18th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Charles Schwab presently has an average rating of “Hold” and a consensus price target of $74.47.

Insider Activity

In other Charles Schwab news, CFO Peter B. Crawford sold 8,000 shares of Charles Schwab stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $64.76, for a total value of $518,080.00. Following the completion of the transaction, the chief financial officer now directly owns 29,611 shares of the company’s stock, valued at $1,917,608.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Charles Schwab news, CFO Peter B. Crawford sold 8,000 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $64.76, for a total transaction of $518,080.00. Following the sale, the chief financial officer now directly owns 29,611 shares in the company, valued at approximately $1,917,608.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jonathan M. Craig sold 4,977 shares of Charles Schwab stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $70.01, for a total value of $348,439.77. Following the completion of the sale, the insider now directly owns 81,446 shares of the company’s stock, valued at approximately $5,702,034.46. The disclosure for this sale can be found here. Insiders sold 514,459 shares of company stock worth $36,371,155 over the last three months. 6.60% of the stock is currently 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.