1248 Management LLC Purchases Shares of 93,729 The Charles Schwab Co. (NYSE:SCHW)

1248 Management LLC purchased a new stake in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 93,729 shares of the financial services provider's stock, valued at approximately $6,937,000. Charles Schwab makes up about 3.0% of 1248 Management LLC's portfolio, making the stock its 9th largest holding.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SCHW. Norges Bank purchased a new stake in shares of Charles Schwab during the 4th quarter valued at about $1,289,544,000. Kovitz Investment Group Partners LLC grew 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 valued at $814,545,000 after acquiring an additional 8,584,173 shares during the period. FMR LLC lifted 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 valued at $717,898,000 after buying an additional 3,974,940 shares in the last quarter. Marshall Wace LLP raised its stake in 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 acquiring an additional 3,684,640 shares during the period. Finally, Primecap Management Co. CA lifted its holdings in Charles Schwab by 310.3% during the fourth quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider's stock valued at $314,716,000 after purchasing an additional 3,216,000 shares in the last quarter. 84.38% of the stock is owned by institutional investors.

Charles Schwab Trading Up 2.0 %

Shares of NYSE SCHW traded up $1.59 during trading hours on Friday, reaching $83.10. The stock had a trading volume of 9,348,126 shares, compared to its average volume of 9,388,056. The business's fifty day moving average price is $76.90 and its two-hundred day moving average price is $77.49. The firm has a market cap of $150.71 billion, a price-to-earnings ratio of 27.79, a P/E/G ratio of 0.99 and a beta of 0.90. The Charles Schwab Co. has a 52-week low of $61.01 and a 52-week high of $84.50. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.03. The firm had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.46 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. During the same period in the previous year, the company posted $0.74 earnings per share. Analysts expect that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 9th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date is Friday, May 9th. Charles Schwab's payout ratio is currently 32.73%.

Insider Buying and Selling at Charles Schwab

In other news, Chairman Walter W. Bettinger sold 464,629 shares of the firm's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total value of $38,057,761.39. Following the completion of the transaction, the chairman now directly owns 827,377 shares in the company, valued at $67,770,450.07. This trade represents a 35.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jonathan M. Craig sold 9,559 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $82.00, for a total value of $783,838.00. The disclosure for this sale can be found here. Insiders have sold 503,041 shares of company stock worth $41,072,558 over the last quarter. Insiders own 6.30% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on SCHW shares. Citigroup upgraded shares of Charles Schwab from a "neutral" rating to a "buy" rating and raised their price objective for the company from $85.00 to $102.00 in a research report on Wednesday, April 2nd. Deutsche Bank Aktiengesellschaft upped their price target on Charles Schwab from $98.00 to $105.00 and gave the stock a "buy" rating in a research note on Wednesday, January 22nd. Barclays decreased their price target on shares of Charles Schwab from $96.00 to $84.00 and set an "overweight" rating on the stock in a research note on Monday, April 7th. The Goldman Sachs Group upgraded Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 price objective for the company in a research report on Friday, April 25th. Finally, Redburn Partners decreased their target price on Charles Schwab from $70.00 to $68.00 and set a "sell" rating on the stock in a research report on Friday, January 17th. Two analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $87.22.

Charles Schwab Company 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.