Mission Wealth Management LP purchased a new stake in The Charles Schwab Co. (NYSE:SCHW – Get Rating) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 2,387 shares of the financial services provider’s stock, valued at approximately $201,000.
A number of other institutional investors also recently added to or reduced their stakes in the stock. First Foundation Advisors boosted its stake in Charles Schwab by 5.1% during the 3rd quarter. First Foundation Advisors now owns 271,839 shares of the financial services provider’s stock worth $19,801,000 after purchasing an additional 13,292 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Charles Schwab during the 4th quarter worth $139,544,000. Franklin Resources Inc. raised its holdings in shares of Charles Schwab by 0.7% during the 3rd quarter. Franklin Resources Inc. now owns 5,305,209 shares of the financial services provider’s stock worth $386,431,000 after acquiring an additional 36,423 shares during the period. Boyar Asset Management Inc. raised its holdings in shares of Charles Schwab by 6.0% during the 4th quarter. Boyar Asset Management Inc. now owns 3,550 shares of the financial services provider’s stock worth $299,000 after acquiring an additional 200 shares during the period. Finally, Shelton Capital Management raised its holdings in shares of Charles Schwab by 20.8% during the 3rd quarter. Shelton Capital Management now owns 130,044 shares of the financial services provider’s stock worth $9,472,000 after acquiring an additional 22,401 shares during the period. 87.13% of the stock is currently owned by hedge funds and other institutional investors.
SCHW has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of Charles Schwab from a “buy” rating to a “hold” rating and set a $91.00 price target on the stock. in a research note on Monday, February 21st. Citigroup boosted their price objective on Charles Schwab from $87.50 to $90.00 and gave the stock a “buy” rating in a research report on Friday, April 22nd. Jefferies Financial Group lowered their price objective on Charles Schwab to $95.00 in a research report on Friday, April 22nd. StockNews.com raised Charles Schwab from a “sell” rating to a “hold” rating in a research report on Thursday, May 12th. Finally, Compass Point raised Charles Schwab from a “neutral” rating to a “buy” rating and set a $98.00 price objective for the company in a research report on Tuesday, April 12th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Charles Schwab presently has a consensus rating of “Buy” and a consensus price target of $92.56.
Charles Schwab (NYSE:SCHW – Get Rating) last posted its quarterly earnings data on Monday, April 18th. The financial services provider reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.08). The firm had revenue of $4.67 billion during the quarter, compared to analyst estimates of $4.82 billion. Charles Schwab had a net margin of 31.24% and a return on equity of 14.42%. Charles Schwab’s revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.84 earnings per share. Research analysts predict that The Charles Schwab Co. will post 3.88 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 27th. Stockholders of record on Friday, May 13th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Thursday, May 12th. Charles Schwab’s payout ratio is currently 28.99%.
In other news, CFO Peter B. Crawford sold 3,114 shares of the company’s stock in a transaction that occurred on Wednesday, March 16th. The stock was sold at an average price of $87.01, for a total transaction of $270,949.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Charles R. Schwab sold 156,860 shares of the company’s stock in a transaction that occurred on Tuesday, February 22nd. The stock was sold at an average price of $85.93, for a total value of $13,478,979.80. The disclosure for this sale can be found here. Over the last three months, insiders bought 104,169 shares of company stock valued at $7,081,708 and sold 163,990 shares valued at $14,071,289. 7.50% of the stock is currently owned by corporate insiders.
Charles Schwab Profile (Get Rating)
The Charles Schwab Corporation, together with its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates in two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage, investment advisory, banking and trust, retirement plan, 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 and mutual fund clearing services, as well as compliance solutions.
- Get a free copy of the StockNews.com research report on Charles Schwab (SCHW)
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