The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC trimmed its position in The Charles Schwab Co. (NYSE:SCHW) by 28.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 384,799 shares of the financial services provider’s stock after selling 149,683 shares during the quarter. Cresset Asset Management LLC’s holdings in Charles Schwab were worth $28,479,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in Charles Schwab during the fourth quarter worth $1,289,544,000. Kovitz Investment Group Partners LLC grew its holdings in shares of Charles Schwab by 354.5% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 11,005,881 shares of the financial services provider’s stock worth $814,545,000 after purchasing an additional 8,584,173 shares during the period. FMR LLC increased its position in shares of Charles Schwab by 69.4% during the 4th quarter. FMR LLC now owns 9,700,013 shares of the financial services provider’s stock worth $717,898,000 after purchasing an additional 3,974,940 shares during the last quarter. Marshall Wace LLP raised its holdings in Charles Schwab by 742.0% in the 4th quarter. Marshall Wace LLP now owns 4,181,202 shares of the financial services provider’s stock valued at $309,451,000 after buying an additional 3,684,640 shares during the period. Finally, Primecap Management Co. CA lifted its position in Charles Schwab by 310.3% in the fourth quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider’s stock valued at $314,716,000 after buying an additional 3,216,000 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Trading Up 0.3 %

SCHW opened at $83.35 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The Charles Schwab Co. has a one year low of $61.01 and a one year high of $84.50. The company has a market cap of $151.16 billion, a P/E ratio of 27.88, a PEG ratio of 0.99 and a beta of 0.90. The business’s 50-day simple moving average is $76.99 and its 200-day simple moving average is $77.58.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, beating the consensus estimate of $1.01 by $0.03. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The company had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.46 billion. During the same period in the prior year, the firm posted $0.74 earnings per share. As a group, equities research analysts expect that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 9th will be paid a $0.27 dividend. The ex-dividend date is Friday, May 9th. This represents a $1.08 annualized dividend and a yield of 1.30%. Charles Schwab’s dividend payout ratio is presently 32.73%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SCHW shares. The Goldman Sachs Group raised shares of Charles Schwab from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a research note on Friday, April 25th. Barclays decreased their price target on Charles Schwab from $96.00 to $84.00 and set an “overweight” rating on the stock in a research note on Monday, April 7th. Citigroup raised Charles Schwab from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $85.00 to $102.00 in a research note on Wednesday, April 2nd. JMP Securities reissued a “market outperform” rating and set a $94.00 target price on shares of Charles Schwab in a research note on Monday, April 21st. Finally, Redburn Partners dropped their target price on Charles Schwab from $70.00 to $68.00 and set a “sell” rating for the company in a research report on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $87.22.

Insiders Place Their Bets

In other news, Chairman Walter W. Bettinger sold 464,629 shares of Charles Schwab stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total value of $38,057,761.39. Following the transaction, the chairman now directly owns 827,377 shares of the company’s stock, valued at $67,770,450.07. The trade was a 35.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Frank C. Herringer sold 3,592 shares of the stock in a transaction on Monday, April 21st. The stock was sold at an average price of $74.26, for a total transaction of $266,741.92. Following the sale, the director now owns 172,162 shares of the company’s stock, valued at approximately $12,784,750.12. This represents a 2.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 503,041 shares of company stock valued at $41,072,558. 6.30% of the stock is currently owned by insiders.

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.