Bridges Investment Management Inc. decreased its holdings in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 13.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,456 shares of the financial services provider's stock after selling 3,740 shares during the period. Bridges Investment Management Inc.'s holdings in Charles Schwab were worth $1,914,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of SCHW. Norges Bank purchased a new stake in shares of Charles Schwab in the 4th quarter valued at approximately $1,289,544,000. Kovitz Investment Group Partners LLC grew its stake in shares of Charles Schwab by 354.5% during the fourth 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 in the last quarter. FMR LLC increased its holdings in Charles Schwab by 69.4% in the fourth 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 during the last quarter. Marshall Wace LLP raised its stake in Charles Schwab by 742.0% in the fourth quarter. Marshall Wace LLP now owns 4,181,202 shares of the financial services provider's stock valued at $309,451,000 after buying an additional 3,684,640 shares in the last quarter. Finally, Primecap Management Co. CA lifted its holdings in 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 buying 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 Stock Up 0.4%
Charles Schwab stock opened at $92.31 on Thursday. The stock's 50 day moving average price is $88.12 and its 200 day moving average price is $81.16. The Charles Schwab Corporation has a 1-year low of $61.01 and a 1-year high of $92.80. The company has a market cap of $167.72 billion, a PE ratio of 27.97, a price-to-earnings-growth ratio of 0.98 and a beta of 0.93. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.53 and a quick ratio of 0.53.
Charles Schwab (NYSE:SCHW - Get Free Report) last issued its earnings results on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, topping the consensus estimate of $1.01 by $0.03. Charles Schwab had a net margin of 31.71% and a return on equity of 18.31%. The company had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.46 billion. During the same period in the previous year, the firm earned $0.74 EPS. On average, sell-side analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.
Charles Schwab Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.17%. The ex-dividend date was Friday, May 9th. Charles Schwab's dividend payout ratio (DPR) is presently 32.73%.
Analyst Ratings Changes
A number of research firms have recently commented on SCHW. UBS Group increased their price objective on Charles Schwab from $95.00 to $96.00 and gave the company a "buy" rating in a report on Tuesday, April 22nd. Redburn Atlantic upgraded shares of Charles Schwab from a "sell" rating to a "neutral" rating and increased their price target for the company from $65.00 to $82.00 in a research note on Monday, June 9th. Keefe, Bruyette & Woods boosted their price objective on shares of Charles Schwab from $90.00 to $93.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 22nd. The Goldman Sachs Group upgraded shares of Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 target price for the company in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Charles Schwab from $92.00 to $95.00 and gave the company an "overweight" rating in a research report on Monday, April 21st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, Charles Schwab presently has an average rating of "Moderate Buy" and a consensus price target of $90.85.
Read Our Latest Stock Report on SCHW
Insider Transactions at Charles Schwab
In other Charles Schwab news, insider Paul V. Woolway sold 3,290 shares of Charles Schwab stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $90.95, for a total transaction of $299,225.50. Following the completion of the transaction, the insider owned 35,864 shares in the company, valued at approximately $3,261,830.80. The trade was a 8.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jonathan S. Beatty sold 2,850 shares of Charles Schwab stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $87.57, for a total value of $249,574.50. Following the transaction, the insider owned 15,219 shares of the company's stock, valued at $1,332,727.83. This represents a 15.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 119,905 shares of company stock worth $10,530,833 in the last 90 days. Insiders own 6.30% of the company's stock.
About Charles Schwab
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding SCHW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Charles Schwab Corporation (NYSE:SCHW - Free Report).

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