Hoylecohen LLC purchased a new stake in Charles Schwab Corp (NYSE:SCHW) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 18,663 shares of the financial services provider’s stock, valued at approximately $959,000.
A number of other hedge funds also recently made changes to their positions in the stock. Bogart Wealth LLC raised its position in Charles Schwab by 1,100.0% in the 4th quarter. Bogart Wealth LLC now owns 2,040 shares of the financial services provider’s stock valued at $105,000 after purchasing an additional 1,870 shares during the last quarter. Pinnacle Wealth Planning Services Inc. bought a new position in Charles Schwab in the 4th quarter valued at $118,000. Zions Bancorporation raised its position in Charles Schwab by 1,545.3% in the 3rd quarter. Zions Bancorporation now owns 3,817 shares of the financial services provider’s stock valued at $167,000 after purchasing an additional 3,585 shares during the last quarter. Acadian Asset Management LLC bought a new position in Charles Schwab in the 4th quarter valued at $187,000. Finally, Lourd Capital LLC bought a new position in Charles Schwab in the 4th quarter valued at $208,000. 80.60% of the stock is currently owned by institutional investors and hedge funds.
Shares of Charles Schwab Corp (NYSE SCHW) opened at $55.59 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.30 and a current ratio of 0.31. Charles Schwab Corp has a 52 week low of $37.16 and a 52 week high of $58.11. The company has a market capitalization of $75,321.70, a price-to-earnings ratio of 34.11, a P/E/G ratio of 1.37 and a beta of 1.58.
Charles Schwab (NYSE:SCHW) last posted its earnings results on Wednesday, January 17th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. Charles Schwab had a return on equity of 16.03% and a net margin of 27.32%. The firm had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same period in the previous year, the firm earned $0.36 earnings per share. The company’s revenue was up 13.7% on a year-over-year basis. analysts anticipate that Charles Schwab Corp will post 2.4 EPS for the current year.
The firm also recently announced 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 dividend on an annualized basis and a yield of 0.72%. This is a boost from Charles Schwab’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Thursday, February 8th. Charles Schwab’s payout ratio is presently 24.84%.
Several brokerages have issued reports on SCHW. Zacks Investment Research downgraded Charles Schwab from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. Wells Fargo & Co reiterated a “market perform” rating and issued a $55.00 price objective (up previously from $47.00) on shares of Charles Schwab in a research report on Thursday, January 4th. JMP Securities downgraded Charles Schwab from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 3rd. SunTrust Banks restated a “buy” rating on shares of Charles Schwab in a research report on Wednesday, February 14th. Finally, Nomura restated a “neutral” rating and set a $54.00 target price (up previously from $50.00) on shares of Charles Schwab in a research report on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. Charles Schwab presently has a consensus rating of “Hold” and a consensus price target of $54.64.
In other news, EVP Jonathan M. Craig sold 8,046 shares of the company’s stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $54.31, for a total transaction of $436,978.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jonathan M. Craig sold 5,000 shares of the company’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $58.01, for a total value of $290,050.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 922,251 shares of company stock valued at $50,343,908. Insiders own 12.00% of the company’s stock.
Charles Schwab Profile
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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