Morningstar Investment Services LLC decreased its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 55.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 105,850 shares of the financial services provider's stock after selling 131,896 shares during the period. Charles Schwab accounts for about 1.5% of Morningstar Investment Services LLC's holdings, making the stock its 12th largest holding. Morningstar Investment Services LLC's holdings in Charles Schwab were worth $8,286,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Cary Street Partners Financial LLC purchased a new position in shares of Charles Schwab during the 4th quarter worth approximately $1,455,000. Graham Capital Management L.P. grew its stake in shares of Charles Schwab by 248.3% in the 4th quarter. Graham Capital Management L.P. now owns 112,376 shares of the financial services provider's stock worth $8,317,000 after buying an additional 80,112 shares during the last quarter. World Investment Advisors grew its stake in shares of Charles Schwab by 7.6% in the 1st quarter. World Investment Advisors now owns 163,007 shares of the financial services provider's stock worth $12,760,000 after buying an additional 11,505 shares during the last quarter. State of Alaska Department of Revenue grew its stake in shares of Charles Schwab by 17.2% in the 1st quarter. State of Alaska Department of Revenue now owns 199,687 shares of the financial services provider's stock worth $15,631,000 after buying an additional 29,255 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its stake in shares of Charles Schwab by 14.3% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 146,392 shares of the financial services provider's stock worth $11,460,000 after buying an additional 18,280 shares during the last quarter. Institutional investors own 84.38% of the company's stock.
Analyst Ratings Changes
Several research firms recently issued reports on SCHW. Raymond James Financial reaffirmed an "outperform" rating and issued a $99.00 price objective on shares of Charles Schwab in a research report on Friday. JPMorgan Chase & Co. upped their price objective on Charles Schwab from $92.00 to $95.00 and gave the company an "overweight" rating in a research report on Monday, April 21st. Cowen reaffirmed a "buy" rating on shares of Charles Schwab in a research report on Tuesday, May 20th. Redburn Atlantic raised Charles Schwab from a "sell" rating to a "neutral" rating and upped their price objective for the company from $65.00 to $82.00 in a research report on Monday, June 9th. Finally, William Blair cut Charles Schwab from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 3rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, Charles Schwab presently has a consensus rating of "Moderate Buy" and an average target price of $95.60.
Get Our Latest Stock Report on SCHW
Insider Activity at Charles Schwab
In other Charles Schwab news, Director Paula A. Sneed sold 8,647 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $88.06, for a total value of $761,454.82. Following the completion of the sale, the director owned 105,654 shares of the company's stock, valued at $9,303,891.24. This trade represents a 7.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jonathan S. Beatty sold 2,850 shares of Charles Schwab stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $87.57, for a total transaction of $249,574.50. Following the sale, the insider directly owned 15,219 shares of the company's stock, valued at $1,332,727.83. This represents a 15.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 119,905 shares of company stock valued at $10,530,833 over the last ninety days. 6.30% of the stock is currently owned by company insiders.
Charles Schwab Price Performance
Shares of Charles Schwab stock traded up $2.77 during trading on Friday, reaching $95.87. 23,552,773 shares of the stock traded hands, compared to its average volume of 9,345,964. The company has a market capitalization of $174.19 billion, a price-to-earnings ratio of 25.77, a P/E/G ratio of 1.00 and a beta of 0.93. The business has a fifty day simple moving average of $89.44 and a two-hundred day simple moving average of $82.09. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.53 and a quick ratio of 0.53. The Charles Schwab Corporation has a 52-week low of $61.15 and a 52-week high of $97.50.
Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, beating analysts' consensus estimates of $1.10 by $0.04. The firm had revenue of $5.85 billion during the quarter, compared to analyst estimates of $5.64 billion. Charles Schwab had a return on equity of 18.31% and a net margin of 31.71%. The business's quarterly revenue was up 24.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.73 earnings per share. Sell-side analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current year.
Charles Schwab Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.08 annualized dividend and a yield of 1.13%. Charles Schwab's payout ratio is currently 32.73%.
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.
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