Ycg LLC increased its position in shares of Charles Schwab Co. (NYSE:SCHW) by 5.2% during the third quarter, Holdings Channel.com reports. The fund owned 906,565 shares of the financial services provider’s stock after acquiring an additional 44,518 shares during the quarter. Charles Schwab accounts for approximately 5.6% of Ycg LLC’s investment portfolio, making the stock its 6th largest position. Ycg LLC’s holdings in Charles Schwab were worth $37,922,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the stock. Nuveen Asset Management LLC increased its stake in Charles Schwab by 12,401.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 6,862,927 shares of the financial services provider’s stock worth $275,821,000 after purchasing an additional 6,808,032 shares in the last quarter. BlackRock Inc. increased its stake in Charles Schwab by 3.7% in the 2nd quarter. BlackRock Inc. now owns 87,080,690 shares of the financial services provider’s stock worth $3,499,773,000 after purchasing an additional 3,140,824 shares in the last quarter. Boston Partners increased its stake in Charles Schwab by 287.1% in the 2nd quarter. Boston Partners now owns 3,792,595 shares of the financial services provider’s stock worth $152,428,000 after purchasing an additional 2,812,729 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake in Charles Schwab by 132.2% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 3,490,027 shares of the financial services provider’s stock worth $140,265,000 after purchasing an additional 1,987,302 shares in the last quarter. Finally, Eminence Capital LP increased its stake in Charles Schwab by 61.0% in the 2nd quarter. Eminence Capital LP now owns 5,219,005 shares of the financial services provider’s stock worth $209,752,000 after purchasing an additional 1,977,025 shares in the last quarter. 79.07% of the stock is currently owned by hedge funds and other institutional investors.
SCHW has been the topic of a number of analyst reports. ValuEngine raised Charles Schwab from a “sell” rating to a “hold” rating in a research note on Wednesday, September 4th. Bank of America lowered Charles Schwab from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $49.00 to $43.00 in a research report on Friday, July 12th. Deutsche Bank restated a “hold” rating and set a $35.00 price objective (up from $34.00) on shares of Charles Schwab in a research report on Wednesday. Wells Fargo & Co restated a “hold” rating on shares of Charles Schwab in a research report on Tuesday. Finally, Compass Point set a $45.00 price objective on Charles Schwab and gave the stock a “hold” rating in a research report on Tuesday, July 2nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $44.09.
NYSE SCHW traded down $0.72 during trading on Wednesday, reaching $39.02. 782,587 shares of the company’s stock were exchanged, compared to its average volume of 11,566,439. Charles Schwab Co. has a fifty-two week low of $34.58 and a fifty-two week high of $49.24. The firm has a market capitalization of $48.73 billion, a PE ratio of 15.93, a P/E/G ratio of 2.51 and a beta of 1.32. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.40. The company’s fifty day simple moving average is $39.49 and its 200-day simple moving average is $41.55.
Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.05. Charles Schwab had a return on equity of 20.52% and a net margin of 35.29%. The firm had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.65 billion. During the same period last year, the company posted $0.65 EPS. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. Equities analysts forecast that Charles Schwab Co. will post 2.62 EPS for the current fiscal year.
In other news, EVP Jonathan M. Craig sold 3,740 shares of Charles Schwab stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $38.97, for a total transaction of $145,747.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Charles R. Schwab sold 105,422 shares of Charles Schwab stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $40.08, for a total value of $4,225,313.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 219,677 shares of company stock valued at $8,993,241. 10.90% of the stock is owned by corporate insiders.
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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