Mackenzie Financial Corp Boosts Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Mackenzie Financial Corp lifted its holdings in The Charles Schwab Co. (NYSE:SCHW) by 0.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 499,900 shares of the financial services provider’s stock after purchasing an additional 2,079 shares during the quarter. Mackenzie Financial Corp’s holdings in Charles Schwab were worth $34,393,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of SCHW. Norges Bank purchased a new position in shares of Charles Schwab in the fourth quarter valued at $1,325,555,000. Morgan Stanley boosted its stake in Charles Schwab by 62.5% during the fourth quarter. Morgan Stanley now owns 22,255,649 shares of the financial services provider’s stock worth $1,853,005,000 after buying an additional 8,563,389 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Charles Schwab by 26.3% during 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 buying an additional 6,195,934 shares during the period. Moneta Group Investment Advisors LLC boosted its stake in Charles Schwab by 91,051.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 5,365,193 shares of the financial services provider’s stock worth $446,706,000 after buying an additional 5,359,307 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in Charles Schwab by 186.2% during the third quarter. Ameriprise Financial Inc. now owns 7,107,176 shares of the financial services provider’s stock worth $390,234,000 after buying an additional 4,624,302 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Charles Schwab news, Chairman Charles R. Schwab sold 16,390 shares of the business’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $63.94, for a total value of $1,047,976.60. Following the completion of the transaction, the chairman now directly owns 61,331,688 shares in the company, valued at $3,921,548,130.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $70.87, for a total transaction of $637,830.00. Following the sale, the director now owns 581,457 shares in the company, valued at $41,207,857.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Charles R. Schwab sold 16,390 shares of the business’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $63.94, for a total value of $1,047,976.60. Following the sale, the chairman now owns 61,331,688 shares in the company, valued at approximately $3,921,548,130.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 216,584 shares of company stock worth $14,200,769. 6.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. TD Cowen lifted their price objective on shares of Charles Schwab from $87.00 to $92.00 and gave the stock a “buy” rating in a research note on Tuesday. Keefe, Bruyette & Woods lifted their price objective on shares of Charles Schwab from $75.00 to $76.00 and gave the stock a “market perform” rating in a research note on Tuesday. Bank of America lifted their target price on Charles Schwab from $68.00 to $70.00 and gave the stock an “underperform” rating in a research report on Tuesday. Morgan Stanley lifted their target price on Charles Schwab from $65.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $71.00 target price (up from $70.00) on shares of Charles Schwab in a research report on Wednesday, January 3rd. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Charles Schwab presently has a consensus rating of “Hold” and an average target price of $74.47.

Charles Schwab Stock Performance

SCHW stock opened at $72.50 on Thursday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.43 and a quick ratio of 0.43. The business has a 50-day moving average price of $68.17 and a 200 day moving average price of $62.82. The company has a market capitalization of $128.76 billion, a P/E ratio of 30.33, a PEG ratio of 1.10 and a beta of 1.01. The Charles Schwab Co. has a 1-year low of $45.65 and a 1-year high of $73.88.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.04. The firm had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.49 billion. Charles Schwab had a return on equity of 19.86% and a net margin of 26.14%. The firm’s quarterly revenue was down 18.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.07 earnings per share. As a group, equities research analysts forecast that The Charles Schwab Co. will post 3.41 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were issued a $0.25 dividend. The ex-dividend date was Thursday, February 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.38%. Charles Schwab’s dividend payout ratio is presently 41.84%.

About Charles Schwab

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.