Bronfman E.L. Rothschild L.P. lowered its holdings in shares of Charles Schwab Co. (NYSE:SCHW) by 4.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,116 shares of the financial services provider’s stock after selling 1,736 shares during the quarter. Bronfman E.L. Rothschild L.P.’s holdings in Charles Schwab were worth $1,500,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc raised its holdings in shares of Charles Schwab by 0.9% during the 3rd quarter. Vanguard Group Inc now owns 88,586,138 shares of the financial services provider’s stock valued at $4,354,008,000 after purchasing an additional 820,257 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Charles Schwab by 2.6% during the 3rd quarter. BlackRock Inc. now owns 86,976,839 shares of the financial services provider’s stock valued at $4,274,909,000 after purchasing an additional 2,179,682 shares in the last quarter. Edgewood Management LLC raised its holdings in shares of Charles Schwab by 1.6% during the 3rd quarter. Edgewood Management LLC now owns 21,966,947 shares of the financial services provider’s stock valued at $1,079,675,000 after purchasing an additional 349,106 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Charles Schwab by 2.1% during the 4th quarter. Northern Trust Corp now owns 16,655,792 shares of the financial services provider’s stock valued at $691,715,000 after purchasing an additional 336,557 shares in the last quarter. Finally, Parnassus Investments CA raised its holdings in Charles Schwab by 22.3% in the 4th quarter. Parnassus Investments CA now owns 15,623,778 shares of the financial services provider’s stock worth $648,856,000 after acquiring an additional 2,850,678 shares during the period. Institutional investors and hedge funds own 78.42% of the company’s stock.
NYSE SCHW opened at $45.45 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.83 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $60.58 billion, a price-to-earnings ratio of 18.55, a P/E/G ratio of 1.02 and a beta of 1.34. Charles Schwab Co. has a 52-week low of $37.83 and a 52-week high of $60.22.
Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Wednesday, January 16th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.01. The company had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.64 billion. Charles Schwab had a net margin of 34.61% and a return on equity of 20.11%. The business’s quarterly revenue was up 19.0% on a year-over-year basis. During the same period last year, the business posted $0.44 EPS. Research analysts forecast that Charles Schwab Co. will post 2.81 EPS for the current fiscal year.
Charles Schwab announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, January 30th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 6.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Thursday, February 28th. Shareholders of record on Thursday, February 14th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.50%. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.13. The ex-dividend date was Wednesday, February 13th. Charles Schwab’s dividend payout ratio (DPR) is currently 27.76%.
In other Charles Schwab news, insider Walter W. Bettinger bought 124,669 shares of the firm’s stock in a transaction dated Wednesday, December 26th. The shares were acquired at an average cost of $38.81 per share, for a total transaction of $4,838,403.89. Following the transaction, the insider now owns 335,093 shares in the company, valued at $13,004,959.33. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Walter W. Bettinger bought 93,090 shares of the firm’s stock in a transaction dated Monday, December 24th. The shares were acquired at an average price of $39.09 per share, for a total transaction of $3,638,888.10. Following the completion of the transaction, the chief executive officer now owns 335,093 shares in the company, valued at approximately $13,098,785.37. The disclosure for this purchase can be found here. Insiders sold a total of 356,416 shares of company stock worth $16,652,483 over the last 90 days. Company insiders own 11.50% of the company’s stock.
Several research analysts recently commented on SCHW shares. UBS Group downgraded shares of Charles Schwab from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $48.00 to $42.00 in a report on Wednesday, February 20th. Raymond James lifted their target price on shares of Charles Schwab from $51.00 to $54.00 and gave the stock an “outperform” rating in a report on Wednesday, January 16th. Wells Fargo & Co dropped their target price on shares of Charles Schwab from $53.00 to $44.00 and set a “market perform” rating on the stock in a report on Friday, January 4th. Goldman Sachs Group started coverage on shares of Charles Schwab in a report on Friday, November 30th. They issued a “buy” rating and a $55.00 target price on the stock. Finally, Morgan Stanley dropped their target price on shares of Charles Schwab from $60.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, January 4th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $53.15.
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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