IndexIQ Advisors LLC Acquires 667 Shares of The Charles Schwab Co. (NYSE:SCHW)

IndexIQ Advisors LLC boosted its stake in The Charles Schwab Co. (NYSE:SCHW) by 1.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 69,912 shares of the financial services provider’s stock after acquiring an additional 667 shares during the period. IndexIQ Advisors LLC’s holdings in Charles Schwab were worth $5,093,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Charles Schwab by 1.0% during the second quarter. Vanguard Group Inc. now owns 115,044,473 shares of the financial services provider’s stock valued at $8,376,388,000 after purchasing an additional 1,140,653 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Charles Schwab by 4.3% during the 2nd quarter. BlackRock Inc. now owns 112,447,685 shares of the financial services provider’s stock valued at $8,187,314,000 after buying an additional 4,670,450 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Charles Schwab by 2.8% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 83,022,035 shares of the financial services provider’s stock worth $6,044,834,000 after buying an additional 2,285,311 shares during the period. Geode Capital Management LLC increased its stake in shares of Charles Schwab by 4.7% in the 2nd quarter. Geode Capital Management LLC now owns 23,322,538 shares of the financial services provider’s stock worth $1,692,952,000 after acquiring an additional 1,053,694 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Charles Schwab by 11.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 14,417,167 shares of the financial services provider’s stock valued at $1,049,714,000 after acquiring an additional 1,538,627 shares during the period. 71.35% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have recently issued reports on SCHW. Bank of America initiated coverage on shares of Charles Schwab in a report on Thursday, December 16th. They set a “buy” rating for the company. Atlantic Securities started coverage on Charles Schwab in a research report on Tuesday, October 5th. They issued an “overweight” rating and a $95.00 price target for the company. JMP Securities downgraded shares of Charles Schwab from an “outperform” rating to a “market perform” rating in a research note on Monday. UBS Group upped their target price on shares of Charles Schwab from $83.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 4th. Finally, The Goldman Sachs Group upped their target price on shares of Charles Schwab from $83.00 to $94.00 and gave the stock a “neutral” rating in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $93.28.

In related news, CEO Walter W. Bettinger sold 245,239 shares of the firm’s stock in a transaction on Tuesday, October 19th. The shares were sold at an average price of $81.12, for a total transaction of $19,893,787.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Bernard J. Clark sold 300 shares of the firm’s stock in a transaction on Monday, October 25th. The shares were sold at an average price of $84.00, for a total transaction of $25,200.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,185,428 shares of company stock valued at $97,611,276. Corporate insiders own 7.50% of the company’s stock.

SCHW traded up $0.82 during trading on Friday, hitting $94.20. The company’s stock had a trading volume of 184,543 shares, compared to its average volume of 8,672,975. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.41. The Charles Schwab Co. has a one year low of $50.76 and a one year high of $95.04. The firm has a market cap of $170.63 billion, a PE ratio of 35.82, a P/E/G ratio of 0.95 and a beta of 1.04. The business’s 50 day simple moving average is $83.51 and its 200-day simple moving average is $77.09.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Thursday, October 14th. The financial services provider reported $0.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.03. Charles Schwab had a net margin of 30.08% and a return on equity of 13.53%. The business had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.51 billion. During the same period last year, the firm earned $0.51 earnings per share. The company’s quarterly revenue was up 86.7% on a year-over-year basis. Equities research analysts expect that The Charles Schwab Co. will post 3.27 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 26th. Stockholders of record on Friday, November 12th were paid a $0.18 dividend. The ex-dividend date was Wednesday, November 10th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.76%. Charles Schwab’s dividend payout ratio (DPR) is presently 27.38%.

About Charles Schwab

The Charles Schwab Corp. is a savings and loan holding company, which engages in the provision of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. It operates through the Investor Services and Advisor Services segments. The Investor Services segment includes retail brokerage and banking services to individual investors, and retirement plan services, as well as other corporate brokerage services, to businesses and their employees.

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Institutional Ownership by Quarter for Charles Schwab (NYSE:SCHW)

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