Macquarie Group Ltd. grew its position in Charles Schwab Corp (NYSE:SCHW) by 6.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,681,877 shares of the financial services provider’s stock after purchasing an additional 219,635 shares during the period. Macquarie Group Ltd. owned approximately 0.27% of Charles Schwab worth $189,658,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of SCHW. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Charles Schwab by 1.7% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 76,544 shares of the financial services provider’s stock worth $3,348,000 after acquiring an additional 1,313 shares during the period. Candriam Luxembourg S.C.A. lifted its stake in shares of Charles Schwab by 4.1% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 77,596 shares of the financial services provider’s stock worth $3,394,000 after acquiring an additional 3,062 shares during the period. CIBC Asset Management Inc lifted its stake in shares of Charles Schwab by 1.8% in the 3rd quarter. CIBC Asset Management Inc now owns 128,623 shares of the financial services provider’s stock worth $5,626,000 after acquiring an additional 2,228 shares during the period. New York State Common Retirement Fund lifted its stake in shares of Charles Schwab by 4.3% in the 3rd quarter. New York State Common Retirement Fund now owns 4,419,155 shares of the financial services provider’s stock worth $193,294,000 after acquiring an additional 182,930 shares during the period. Finally, Advisor Group Inc. lifted its stake in shares of Charles Schwab by 6.9% in the 3rd quarter. Advisor Group Inc. now owns 47,996 shares of the financial services provider’s stock worth $2,099,000 after acquiring an additional 3,100 shares during the period. Hedge funds and other institutional investors own 80.60% of the company’s stock.
In other news, Chairman Charles R. Schwab sold 240,000 shares of the stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $55.13, for a total transaction of $13,231,200.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Terri R. Kallsen sold 2,026 shares of the stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $51.30, for a total transaction of $103,933.80. Following the transaction, the executive vice president now owns 1,706 shares in the company, valued at approximately $87,517.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 922,251 shares of company stock worth $50,343,908. Company insiders own 12.00% of the company’s stock.
SCHW has been the subject of a number of research analyst reports. Credit Suisse Group began coverage on shares of Charles Schwab in a research note on Thursday, November 30th. They issued an “outperform” rating and a $55.00 price target for the company. SunTrust Banks increased their target price on shares of Charles Schwab to $56.00 and gave the company an “average” rating in a research note on Friday, December 15th. They noted that the move was a valuation call. JMP Securities lowered shares of Charles Schwab from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 3rd. Wells Fargo & Co reissued a “market perform” rating and set a $55.00 target price (up from $47.00) on shares of Charles Schwab in a research note on Thursday, January 4th. Finally, Zacks Investment Research raised shares of Charles Schwab from a “hold” rating to a “strong-buy” rating and set a $60.00 target price for the company in a research note on Friday, January 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $54.64.
Shares of Charles Schwab Corp (NYSE SCHW) opened at $55.74 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.31 and a quick ratio of 0.30. The company has a market cap of $76,318.09, a P/E ratio of 34.75, a P/E/G ratio of 1.39 and a beta of 1.58. Charles Schwab Corp has a 12-month low of $37.16 and a 12-month high of $58.11.
Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $0.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.03. The business had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.24 billion. Charles Schwab had a net margin of 27.32% and a return on equity of 16.03%. The firm’s quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.36 EPS. research analysts forecast that Charles Schwab Corp will post 2.4 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend was Thursday, February 8th. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.08. Charles Schwab’s dividend payout ratio is currently 24.84%.
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About Charles Schwab
The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.
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