Relyea Zuckerberg Hanson LLC Increases Stake in The Charles Schwab Co. (NYSE:SCHW)

Relyea Zuckerberg Hanson LLC raised its position in The Charles Schwab Co. (NYSE:SCHW) by 4.1% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 5,635 shares of the financial services provider’s stock after purchasing an additional 222 shares during the period. Relyea Zuckerberg Hanson LLC’s holdings in Charles Schwab were worth $441,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Charles Schwab in the 4th quarter worth $1,289,544,000. Kovitz Investment Group Partners LLC increased its position in shares of Charles Schwab by 354.5% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 11,005,881 shares of the financial services provider’s stock worth $814,545,000 after purchasing an additional 8,584,173 shares during the last quarter. FMR LLC increased its position in shares of Charles Schwab by 69.4% during the 4th quarter. FMR LLC now owns 9,700,013 shares of the financial services provider’s stock worth $717,898,000 after purchasing an additional 3,974,940 shares during the last quarter. Marshall Wace LLP increased its position in shares of Charles Schwab by 742.0% during the 4th quarter. Marshall Wace LLP now owns 4,181,202 shares of the financial services provider’s stock worth $309,451,000 after purchasing an additional 3,684,640 shares during the last quarter. Finally, Primecap Management Co. CA increased its position in shares of Charles Schwab by 310.3% during the 4th quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider’s stock worth $314,716,000 after purchasing an additional 3,216,000 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $88.48 on Friday. The Charles Schwab Co. has a twelve month low of $61.01 and a twelve month high of $89.85. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The stock has a 50 day moving average of $82.95 and a two-hundred day moving average of $79.84. The stock has a market cap of $160.77 billion, a P/E ratio of 29.59, a P/E/G ratio of 0.99 and a beta of 0.94.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.03. The company had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.46 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. During the same period in the previous year, the company posted $0.74 EPS. On average, research analysts forecast that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were given a dividend of $0.27 per share. The ex-dividend date was Friday, May 9th. This represents a $1.08 dividend on an annualized basis and a yield of 1.22%. Charles Schwab’s payout ratio is currently 32.73%.

Insiders Place Their Bets

In other Charles Schwab news, Director Frank C. Herringer sold 3,592 shares of the company’s stock in a transaction on Monday, April 21st. The shares were sold at an average price of $74.26, for a total transaction of $266,741.92. Following the completion of the transaction, the director now owns 172,162 shares in the company, valued at approximately $12,784,750.12. This represents a 2.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jonathan M. Craig sold 47,500 shares of the company’s stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $88.46, for a total transaction of $4,201,850.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 97,608 shares of company stock worth $8,392,040. 6.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SCHW. Cowen reissued a “buy” rating on shares of Charles Schwab in a research report on Tuesday, May 20th. Barclays cut their price objective on Charles Schwab from $96.00 to $84.00 and set an “overweight” rating for the company in a research report on Monday, April 7th. Redburn Atlantic raised Charles Schwab from a “sell” rating to a “neutral” rating and lifted their target price for the company from $65.00 to $82.00 in a research report on Monday. TD Securities lifted their target price on Charles Schwab from $95.00 to $113.00 and gave the company a “buy” rating in a research report on Tuesday, May 20th. Finally, TD Cowen raised Charles Schwab from a “hold” rating to a “buy” rating and lifted their target price for the company from $88.00 to $103.00 in a research report on Tuesday, February 18th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.25.

Charles Schwab Profile

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.