Guggenheim Capital LLC lessened its holdings in Charles Schwab Corp (NYSE:SCHW) by 14.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,442,454 shares of the financial services provider’s stock after selling 247,256 shares during the period. Guggenheim Capital LLC owned approximately 0.11% of Charles Schwab worth $74,098,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Tower Bridge Advisors lifted its stake in Charles Schwab by 0.4% in the fourth quarter. Tower Bridge Advisors now owns 276,921 shares of the financial services provider’s stock valued at $14,225,000 after purchasing an additional 1,011 shares during the last quarter. Frontier Investment Mgmt Co. raised its holdings in Charles Schwab by 8.2% during the 4th quarter. Frontier Investment Mgmt Co. now owns 14,631 shares of the financial services provider’s stock valued at $752,000 after acquiring an additional 1,112 shares during the period. Global X Management Co. LLC raised its holdings in Charles Schwab by 7.5% during the 4th quarter. Global X Management Co. LLC now owns 16,095 shares of the financial services provider’s stock valued at $827,000 after acquiring an additional 1,125 shares during the period. Baker Avenue Asset Management LP raised its holdings in Charles Schwab by 0.4% during the 4th quarter. Baker Avenue Asset Management LP now owns 291,144 shares of the financial services provider’s stock valued at $14,956,000 after acquiring an additional 1,137 shares during the period. Finally, Cetera Advisor Networks LLC raised its holdings in Charles Schwab by 19.3% during the 4th quarter. Cetera Advisor Networks LLC now owns 7,072 shares of the financial services provider’s stock valued at $363,000 after acquiring an additional 1,145 shares during the period. Hedge funds and other institutional investors own 80.60% of the company’s stock.
A number of brokerages have issued reports on SCHW. Zacks Investment Research cut shares of Charles Schwab from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Wells Fargo & Co reissued a “market perform” rating and set a $55.00 target price (up previously from $47.00) on shares of Charles Schwab in a report on Thursday, January 4th. SunTrust Banks reissued a “buy” rating on shares of Charles Schwab in a report on Wednesday, February 14th. JMP Securities cut shares of Charles Schwab from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 3rd. Finally, Nomura reaffirmed a “neutral” rating and issued a $54.00 price target (up previously 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 assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $54.33.
Charles Schwab (NYSE:SCHW) last released its earnings results on Wednesday, January 17th. The financial services provider reported $0.44 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.03. The business had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Charles Schwab had a return on equity of 16.03% and a net margin of 27.32%. The firm’s revenue was up 13.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.36 earnings per share. equities analysts forecast that Charles Schwab Corp will post 2.4 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend was Thursday, February 8th. This is a boost from Charles Schwab’s previous quarterly dividend of $0.08. Charles Schwab’s dividend payout ratio is currently 24.84%.
In related news, Chairman Charles R. Schwab sold 240,000 shares of the stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $55.13, for a total value of $13,231,200.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Charles R. Schwab sold 300,000 shares of the stock in a transaction on Thursday, January 18th. The shares were 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. In the last three months, insiders sold 917,251 shares of company stock worth $50,053,858. 12.00% of the stock is owned by insiders.
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Charles Schwab Company 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.
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