Castleark Management LLC purchased a new stake in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 36,045 shares of the financial services provider's stock, valued at approximately $8,175,000.
A number of other hedge funds also recently added to or reduced their stakes in SCHW. Geode Capital Management LLC grew its position in Charles Schwab by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 37,667,640 shares of the financial services provider's stock valued at $3,747,646,000 after buying an additional 98,242 shares during the period. Swiss Life Asset Management Ltd raised its position in Charles Schwab by 4.2% in the fourth quarter. Swiss Life Asset Management Ltd now owns 407,179 shares of the financial services provider's stock worth $40,681,000 after acquiring an additional 16,482 shares during the period. Eurizon Capital SGR S.p.A. bought a new position in Charles Schwab in the fourth quarter worth approximately $35,233,000. Norges Bank purchased a new position in shares of Charles Schwab during the 4th quarter worth $1,994,189,000. Finally, Seaview Investment Managers LLC purchased a new position in shares of Charles Schwab during the 4th quarter worth $8,027,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
SCHW has been the subject of several analyst reports. Wolfe Research restated an "outperform" rating and issued a $127.00 price objective on shares of Charles Schwab in a research note on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Charles Schwab in a report on Wednesday, July 22nd. Morgan Stanley upped their price target on Charles Schwab from $133.00 to $136.00 and gave the stock an "overweight" rating in a research report on Monday, July 27th. Raymond James Financial reiterated an "outperform" rating and issued a $145.00 price target on shares of Charles Schwab in a research report on Wednesday, July 22nd. Finally, Zacks Research upgraded shares of Charles Schwab from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Charles Schwab has a consensus rating of "Moderate Buy" and an average target price of $121.17.
Check Out Our Latest Stock Analysis on SCHW
Insider Buying and Selling at Charles Schwab
In other news, Director Paula A. Sneed sold 5,263 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $107.15, for a total transaction of $563,930.45. Following the completion of the transaction, the director directly owned 91,711 shares in the company, valued at approximately $9,826,833.65. This represents a 5.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Walter W. Bettinger sold 93,408 shares of the firm's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $104.64, for a total transaction of $9,774,213.12. Following the completion of the transaction, the chairman directly owned 529,346 shares of the company's stock, valued at approximately $55,390,765.44. This trade represents a 15.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 398,984 shares of company stock worth $41,699,569. Company insiders own 6.30% of the company's stock.
Charles Schwab Price Performance
SCHW stock opened at $112.43 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.64 and a current ratio of 0.64. The company's fifty day moving average price is $102.42 and its 200-day moving average price is $96.22. The Charles Schwab Corporation has a one year low of $83.96 and a one year high of $114.53. The company has a market capitalization of $194.43 billion, a PE ratio of 20.44, a price-to-earnings-growth ratio of 0.85 and a beta of 0.76.
Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.62 EPS for the quarter, topping the consensus estimate of $1.56 by $0.06. The business had revenue of $7.07 billion for the quarter, compared to analysts' expectations of $6.90 billion. Charles Schwab had a net margin of 38.79% and a return on equity of 24.53%. The business's quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.14 EPS. On average, equities analysts anticipate that The Charles Schwab Corporation will post 6.46 EPS for the current fiscal year.
Charles Schwab Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.28 dividend on an annualized basis and a yield of 1.1%. Charles Schwab's payout ratio is presently 23.27%.
Charles Schwab Profile
(
Free Report)
Charles Schwab Corporation NYSE: SCHW is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.
Further Reading
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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