Nicholas Hoffman & Company LLC. acquired a new stake in shares of Charles Schwab Co. (NYSE:SCHW) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 16,333 shares of the financial services provider’s stock, valued at approximately $549,000.
Several other institutional investors have also recently made changes to their positions in SCHW. BlackRock Inc. grew its position in Charles Schwab by 5.7% during the 1st quarter. BlackRock Inc. now owns 91,681,742 shares of the financial services provider’s stock worth $3,082,342,000 after acquiring an additional 4,903,256 shares during the last quarter. Geode Capital Management LLC grew its position in Charles Schwab by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 15,433,355 shares of the financial services provider’s stock worth $732,454,000 after acquiring an additional 256,753 shares during the last quarter. Parnassus Investments CA grew its position in Charles Schwab by 29.6% during the 1st quarter. Parnassus Investments CA now owns 15,252,546 shares of the financial services provider’s stock worth $512,791,000 after acquiring an additional 3,486,934 shares during the last quarter. Alliancebernstein L.P. grew its position in Charles Schwab by 8.6% during the 4th quarter. Alliancebernstein L.P. now owns 14,688,408 shares of the financial services provider’s stock worth $698,581,000 after acquiring an additional 1,165,515 shares during the last quarter. Finally, FMR LLC grew its position in Charles Schwab by 12.5% during the 4th quarter. FMR LLC now owns 14,627,477 shares of the financial services provider’s stock worth $695,683,000 after acquiring an additional 1,626,774 shares during the last quarter. Hedge funds and other institutional investors own 82.30% of the company’s stock.
Several equities analysts recently issued reports on the company. Deutsche Bank reduced their price target on Charles Schwab from $38.00 to $36.00 and set a “hold” rating on the stock in a research report on Friday, May 15th. Wells Fargo & Co dropped their price objective on Charles Schwab from $38.00 to $33.00 and set an “equal weight” rating for the company in a report on Monday, April 6th. Morgan Stanley increased their price objective on Charles Schwab from $47.00 to $48.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Citigroup cut Charles Schwab from a “buy” rating to a “neutral” rating and set a $37.50 price objective for the company. in a report on Wednesday, April 15th. Finally, Argus dropped their price objective on Charles Schwab from $54.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, April 16th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Charles Schwab presently has a consensus rating of “Hold” and an average target price of $42.75.
In related news, Director Mark A. Goldfarb acquired 5,530 shares of the stock in a transaction on Friday, April 17th. The stock was acquired at an average price of $36.18 per share, for a total transaction of $200,075.40. Following the completion of the purchase, the director now owns 3,771 shares of the company’s stock, valued at $136,434.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles A. Ruffel acquired 2,460 shares of the stock in a transaction on Monday, April 27th. The shares were bought at an average price of $37.08 per share, with a total value of $91,216.80. Following the purchase, the director now directly owns 4,355 shares of the company’s stock, valued at approximately $161,483.40. The disclosure for this purchase can be found here. 10.80% of the stock is currently owned by insiders.
Shares of SCHW traded down $0.39 on Friday, reaching $32.83. The stock had a trading volume of 7,293,350 shares, compared to its average volume of 8,901,745. The firm has a market capitalization of $42.77 billion, a price-to-earnings ratio of 12.82, a price-to-earnings-growth ratio of 1.59 and a beta of 1.27. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.42 and a current ratio of 0.42. The company has a 50-day simple moving average of $35.26 and a 200-day simple moving average of $42.02. Charles Schwab Co. has a 12-month low of $28.00 and a 12-month high of $51.65.
Charles Schwab (NYSE:SCHW) last released its earnings results on Wednesday, April 15th. The financial services provider reported $0.58 EPS for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.05). The firm had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.61 billion. Charles Schwab had a net margin of 33.30% and a return on equity of 18.25%. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.69 EPS. On average, analysts expect that Charles Schwab Co. will post 2.09 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date was Thursday, May 7th. Charles Schwab’s payout ratio is 26.47%.
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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