Novem Group Makes New Investment in The Charles Schwab Co. (NYSE:SCHW)

Novem Group acquired a new position in The Charles Schwab Co. (NYSE:SCHW - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 7,904 shares of the financial services provider's stock, valued at approximately $585,000.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Charles Schwab by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 128,578,230 shares of the financial services provider's stock worth $9,516,075,000 after purchasing an additional 1,187,384 shares during the period. Geode Capital Management LLC raised its stake in Charles Schwab by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 30,901,484 shares of the financial services provider's stock valued at $2,279,742,000 after purchasing an additional 760,043 shares during the period. Fisher Asset Management LLC raised its position in shares of Charles Schwab by 1.3% during the fourth quarter. Fisher Asset Management LLC now owns 20,455,266 shares of the financial services provider's stock valued at $1,513,894,000 after buying an additional 265,708 shares during the last quarter. Norges Bank purchased a new stake in shares of Charles Schwab in the fourth quarter worth about $1,289,544,000. Finally, Northern Trust Corp grew its holdings in shares of Charles Schwab by 13.4% in the fourth quarter. Northern Trust Corp now owns 15,739,917 shares of the financial services provider's stock valued at $1,164,911,000 after purchasing an additional 1,864,286 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SCHW has been the topic of several analyst reports. Keefe, Bruyette & Woods boosted their target price on Charles Schwab from $90.00 to $93.00 and gave the company an "outperform" rating in a research report on Tuesday, April 22nd. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Charles Schwab from $98.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. TD Cowen upgraded shares of Charles Schwab from a "hold" rating to a "buy" rating and upped their target price for the stock from $88.00 to $103.00 in a research note on Tuesday, February 18th. JPMorgan Chase & Co. lifted their price target on shares of Charles Schwab from $92.00 to $95.00 and gave the company an "overweight" rating in a research note on Monday, April 21st. Finally, Citigroup raised Charles Schwab from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $85.00 to $102.00 in a research note on Wednesday, April 2nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Charles Schwab has a consensus rating of "Moderate Buy" and a consensus target price of $89.63.

Charles Schwab Stock Down 1.8%

NYSE:SCHW opened at $87.57 on Thursday. The company's 50-day simple moving average is $79.58 and its 200-day simple moving average is $78.73. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The Charles Schwab Co. has a fifty-two week low of $61.01 and a fifty-two week high of $89.85. The stock has a market capitalization of $159.10 billion, a P/E ratio of 29.29, a P/E/G ratio of 0.99 and a beta of 0.90.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its 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. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The company had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.46 billion. During the same period last year, the firm earned $0.74 earnings per share. On average, equities analysts anticipate that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 9th will be given a $0.27 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.23%. Charles Schwab's payout ratio is 32.73%.

Insider Buying and Selling

In other Charles Schwab news, Director Frank C. Herringer sold 3,592 shares of the business's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $74.26, for a total transaction of $266,741.92. Following the sale, the director now owns 172,162 shares of the company's stock, valued at approximately $12,784,750.12. The trade was a 2.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul V. Woolway sold 9,887 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $75.38, for a total transaction of $745,282.06. Following the transaction, the insider now owns 47,931 shares in the company, valued at $3,613,038.78. The trade was a 17.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,412 shares of company stock worth $3,014,797 in the last ninety days. 6.30% of the stock is owned by insiders.

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.

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