Pacific Heights Asset Management LLC increased its position in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 70.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 188,000 shares of the financial services provider's stock after purchasing an additional 78,000 shares during the quarter. Pacific Heights Asset Management LLC's holdings in Charles Schwab were worth $14,717,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also modified their holdings of SCHW. Brighton Jones LLC boosted its position in shares of Charles Schwab by 380.5% during the 4th quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider's stock valued at $1,794,000 after acquiring an additional 19,195 shares during the last quarter. SRS Capital Advisors Inc. grew its position in shares of Charles Schwab by 62.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,248 shares of the financial services provider's stock worth $166,000 after buying an additional 865 shares in the last quarter. Jones Financial Companies Lllp grew its position in shares of Charles Schwab by 27.2% during the 4th quarter. Jones Financial Companies Lllp now owns 19,767 shares of the financial services provider's stock worth $1,463,000 after buying an additional 4,230 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Charles Schwab during the fourth quarter valued at about $167,000. Finally, Assetmark Inc. boosted its position in Charles Schwab by 133.6% during the fourth quarter. Assetmark Inc. now owns 401,874 shares of the financial services provider's stock valued at $29,743,000 after purchasing an additional 229,832 shares in the last quarter. Institutional investors own 84.38% of the company's stock.
Charles Schwab Price Performance
Charles Schwab stock traded down $0.14 during mid-day trading on Friday, hitting $91.20. 5,765,549 shares of the company were exchanged, compared to its average volume of 9,572,077. 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 business's 50 day simple moving average is $87.44 and its two-hundred day simple moving average is $80.83. The company has a market capitalization of $165.71 billion, a P/E ratio of 27.64, a PEG ratio of 0.98 and a beta of 0.93. The Charles Schwab Corporation has a 12-month low of $61.01 and a 12-month high of $92.15.
Charles Schwab (NYSE:SCHW - Get Free Report) last released its earnings results on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, beating the consensus estimate of $1.01 by $0.03. Charles Schwab had a return on equity of 18.31% and a net margin of 31.71%. The firm had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.46 billion. During the same period in the prior year, the firm posted $0.74 earnings per share. Analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.
Charles Schwab Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Friday, May 9th. Charles Schwab's dividend payout ratio is currently 32.73%.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on SCHW shares. UBS Group raised their price target on Charles Schwab from $95.00 to $96.00 and gave the stock a "buy" rating in a report on Tuesday, April 22nd. Wells Fargo & Company reduced their price target on Charles Schwab from $93.00 to $87.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods boosted their price objective on Charles Schwab from $90.00 to $93.00 and gave the company an "outperform" rating in a research report on Tuesday, April 22nd. TD Securities lifted their price target on Charles Schwab from $95.00 to $113.00 and gave the stock a "buy" rating in a research note on Tuesday, May 20th. Finally, The Goldman Sachs Group raised Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a research note on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $89.40.
Check Out Our Latest Stock Analysis on Charles Schwab
Insider Transactions at Charles Schwab
In other news, Director Paula A. Sneed sold 8,647 shares of Charles Schwab stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $88.06, for a total value of $761,454.82. Following the completion of the transaction, the director owned 105,654 shares in the company, valued at approximately $9,303,891.24. This trade represents a 7.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul V. Woolway sold 10,129 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $90.01, for a total value of $911,711.29. Following the completion of the sale, the insider owned 39,154 shares of the company's stock, valued at $3,524,251.54. This trade represents a 20.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 119,905 shares of company stock valued at $10,530,833 in the last three months. 6.30% of the stock is currently owned by company insiders.
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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