Teachers Retirement System of The State of Kentucky reduced its stake in Charles Schwab Corp (NYSE:SCHW) by 6.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 704,853 shares of the financial services provider’s stock after selling 48,786 shares during the period. Teachers Retirement System of The State of Kentucky owned 0.05% of Charles Schwab worth $36,208,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in SCHW. BlackRock Inc. boosted its holdings in shares of Charles Schwab by 5.2% in the fourth quarter. BlackRock Inc. now owns 79,858,312 shares of the financial services provider’s stock valued at $4,102,323,000 after acquiring an additional 3,943,376 shares during the period. Maverick Capital Ltd. acquired a new stake in shares of Charles Schwab in the fourth quarter valued at approximately $161,834,000. Amundi Pioneer Asset Management Inc. boosted its holdings in shares of Charles Schwab by 90.2% in the third quarter. Amundi Pioneer Asset Management Inc. now owns 4,887,840 shares of the financial services provider’s stock valued at $213,794,000 after acquiring an additional 2,318,498 shares during the period. Edgewood Management LLC boosted its holdings in shares of Charles Schwab by 8.4% in the third quarter. Edgewood Management LLC now owns 20,125,345 shares of the financial services provider’s stock valued at $880,283,000 after acquiring an additional 1,559,733 shares during the period. Finally, Atlantic Trust Group LLC boosted its holdings in shares of Charles Schwab by 851.8% in the third quarter. Atlantic Trust Group LLC now owns 1,492,315 shares of the financial services provider’s stock valued at $65,274,000 after acquiring an additional 1,335,522 shares during the period. Institutional investors own 80.60% of the company’s stock.
Several research firms have recently weighed in on SCHW. Credit Suisse Group decreased their price objective on Charles Schwab from $70.00 to $69.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. Citigroup downgraded Charles Schwab from a “neutral” rating to a “sell” rating and set a $49.00 price objective for the company. in a report on Wednesday, February 7th. Morgan Stanley increased their price objective on Charles Schwab from $61.00 to $63.00 and gave the company an “overweight” rating in a report on Tuesday, January 30th. SunTrust Banks reissued a “buy” rating on shares of Charles Schwab in a report on Wednesday, February 14th. Finally, Nomura reissued a “neutral” rating and issued a $54.00 price objective (up from $50.00) on shares of Charles Schwab in a report on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company. Charles Schwab currently has a consensus rating of “Buy” and an average price target of $54.33.
Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $0.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.03. The firm had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.24 billion. Charles Schwab had a return on equity of 16.03% and a net margin of 27.32%. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period last year, the company earned $0.36 earnings per share. analysts anticipate that Charles Schwab Corp will post 2.4 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were given a $0.10 dividend. This is a boost from Charles Schwab’s previous quarterly dividend of $0.08. The ex-dividend date was Thursday, February 8th. This represents a $0.40 annualized dividend and a yield of 0.69%. Charles Schwab’s dividend payout ratio is presently 24.84%.
In other Charles Schwab news, EVP Terri R. Kallsen sold 2,026 shares of the stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $51.30, for a total value of $103,933.80. Following the completion of the transaction, the executive vice president now owns 1,706 shares in the company, valued at $87,517.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Charles R. Schwab sold 300,000 shares of the stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $55.31, for a total value of $16,593,000.00. The disclosure for this sale can be found here. Insiders sold 917,251 shares of company stock valued at $50,053,858 in the last quarter. 12.00% of the stock is currently owned by company insiders.
Charles Schwab Profile
The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.
Want to see what other hedge funds are holding SCHW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Charles Schwab Corp (NYSE:SCHW).
Receive News & Ratings for Charles Schwab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Charles Schwab and related companies with MarketBeat.com's FREE daily email newsletter.