Gs Investments Inc. grew its stake in shares of Charles Schwab Co. (NYSE:SCHW) by 2.2% during the 3rd quarter, Holdings Channel reports. The firm owned 50,805 shares of the financial services provider’s stock after buying an additional 1,090 shares during the period. Charles Schwab comprises about 1.7% of Gs Investments Inc.’s investment portfolio, making the stock its 24th biggest position. Gs Investments Inc.’s holdings in Charles Schwab were worth $2,497,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the business. FMR LLC increased its position in shares of Charles Schwab by 13.7% during the 2nd quarter. FMR LLC now owns 65,193,384 shares of the financial services provider’s stock worth $3,331,382,000 after purchasing an additional 7,868,551 shares during the last quarter. Edgewood Management LLC increased its position in shares of Charles Schwab by 0.8% during the 2nd quarter. Edgewood Management LLC now owns 21,617,841 shares of the financial services provider’s stock worth $1,104,672,000 after purchasing an additional 169,689 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Charles Schwab by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 12,567,417 shares of the financial services provider’s stock worth $642,195,000 after purchasing an additional 68,160 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Charles Schwab by 8.4% during the 3rd quarter. Wells Fargo & Company MN now owns 6,690,064 shares of the financial services provider’s stock worth $328,815,000 after purchasing an additional 518,046 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of Charles Schwab by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 5,537,302 shares of the financial services provider’s stock worth $283,178,000 after purchasing an additional 146,594 shares during the last quarter. 80.44% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have weighed in on SCHW shares. JPMorgan Chase & Co. set a $59.00 price target on Charles Schwab and gave the stock a “buy” rating in a research report on Monday, July 16th. Jefferies Financial Group reissued a “buy” rating and set a $66.00 target price on shares of Charles Schwab in a report on Monday, July 16th. Wells Fargo & Co boosted their target price on Charles Schwab from $54.00 to $56.00 and gave the stock a “$54.22” rating in a report on Wednesday, July 18th. Citigroup decreased their target price on Charles Schwab from $49.00 to $48.00 and set a “sell” rating on the stock in a report on Monday, July 23rd. Finally, Morgan Stanley boosted their target price on Charles Schwab from $63.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, July 25th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. Charles Schwab currently has an average rating of “Hold” and an average price target of $57.73.
In related news, Director Christopher V. Dodds sold 15,718 shares of the business’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $51.14, for a total value of $803,818.52. Following the completion of the sale, the director now directly owns 7,592 shares in the company, valued at approximately $388,254.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Marie A. Chandoha sold 8,424 shares of the business’s stock in a transaction on Tuesday, October 16th. The shares were sold at an average price of $48.01, for a total value of $404,436.24. The disclosure for this sale can be found here. Insiders sold a total of 39,171 shares of company stock valued at $1,921,687 over the last 90 days. 11.50% of the stock is currently owned by corporate insiders.
SCHW stock opened at $47.64 on Friday. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.33. The company has a market cap of $65.63 billion, a P/E ratio of 29.05, a price-to-earnings-growth ratio of 1.21 and a beta of 1.48. Charles Schwab Co. has a 1-year low of $42.01 and a 1-year high of $60.22.
Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Monday, October 15th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.65. The business had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.58 billion. Charles Schwab had a return on equity of 19.46% and a net margin of 32.65%. The firm’s quarterly revenue was up 19.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.42 EPS. Equities analysts forecast that Charles Schwab Co. will post 2.45 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 23rd. Investors of record on Friday, November 9th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $0.52 annualized dividend and a yield of 1.09%. Charles Schwab’s dividend payout ratio (DPR) is presently 31.71%.
Charles Schwab announced that its board has initiated a stock buyback plan on Thursday, October 25th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 1.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
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About Charles Schwab
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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