DekaBank Deutsche Girozentrale raised its position in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 5.9% during the first quarter, according to its most recent filing with the SEC. The firm owned 419,318 shares of the financial services provider's stock after purchasing an additional 23,212 shares during the period. DekaBank Deutsche Girozentrale's holdings in Charles Schwab were worth $32,360,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Personal CFO Solutions LLC lifted its position in shares of Charles Schwab by 2.0% during the 1st quarter. Personal CFO Solutions LLC now owns 11,457 shares of the financial services provider's stock valued at $897,000 after acquiring an additional 221 shares during the period. Stratos Wealth Advisors LLC lifted its position in shares of Charles Schwab by 11.0% during the 1st quarter. Stratos Wealth Advisors LLC now owns 15,553 shares of the financial services provider's stock valued at $1,218,000 after acquiring an additional 1,544 shares during the period. Stratos Investment Management LLC lifted its position in shares of Charles Schwab by 28.8% during the 1st quarter. Stratos Investment Management LLC now owns 10,927 shares of the financial services provider's stock valued at $855,000 after acquiring an additional 2,444 shares during the period. Brown Advisory Inc. lifted its position in shares of Charles Schwab by 37.4% during the 1st quarter. Brown Advisory Inc. now owns 6,454,052 shares of the financial services provider's stock valued at $505,223,000 after acquiring an additional 1,757,720 shares during the period. Finally, Alpha Cubed Investments LLC lifted its position in shares of Charles Schwab by 43.0% during the 1st quarter. Alpha Cubed Investments LLC now owns 31,246 shares of the financial services provider's stock valued at $2,446,000 after acquiring an additional 9,403 shares during the period. Institutional investors and hedge funds own 84.38% of the company's stock.
Insider Activity
In other Charles Schwab news, insider Jonathan M. Craig sold 47,500 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $88.46, for a total transaction of $4,201,850.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Nigel J. Murtagh sold 20,872 shares of the stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $90.01, for a total transaction of $1,878,688.72. Following the completion of the sale, the insider directly owned 58,999 shares in the company, valued at approximately $5,310,499.99. The trade was a 26.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 119,905 shares of company stock valued at $10,530,833. 6.30% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
SCHW has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their target price 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. Morgan Stanley upped their price objective on shares of Charles Schwab from $76.00 to $83.00 and gave the stock an "overweight" rating in a report on Tuesday, May 13th. The Goldman Sachs Group upgraded shares of Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 price objective on the stock in a report on Friday, April 25th. JMP Securities restated a "market outperform" rating and set a $94.00 price objective on shares of Charles Schwab in a report on Monday, April 21st. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Charles Schwab from $90.00 to $93.00 and gave the stock an "outperform" rating in a report on Tuesday, April 22nd. 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 company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $91.95.
Check Out Our Latest Stock Report on Charles Schwab
Charles Schwab Stock Performance
SCHW traded up $0.70 during trading on Thursday, hitting $93.02. 6,740,737 shares of the company traded hands, compared to its average volume of 9,563,448. The firm has a market cap of $169.01 billion, a P/E ratio of 28.19, a price-to-earnings-growth ratio of 0.98 and a beta of 0.93. The stock's fifty day moving average is $88.12 and its 200 day moving average is $81.16. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.53. The Charles Schwab Corporation has a one year low of $61.01 and a one year high of $93.38.
Charles Schwab (NYSE:SCHW - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.46 billion. Charles Schwab had a net margin of 31.71% and a return on equity of 18.31%. During the same quarter in the prior year, the business earned $0.74 earnings per share. As a group, equities analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.
Charles Schwab Dividend Announcement
The firm also recently announced 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 1.16%. Charles Schwab's dividend payout ratio is presently 32.73%.
Charles Schwab Company Profile
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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.
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