Riverpark Capital Management LLC lowered its stake in shares of Charles Schwab Corp (NYSE:SCHW) by 14.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 543,193 shares of the financial services provider’s stock after selling 94,795 shares during the period. Charles Schwab accounts for 4.0% of Riverpark Capital Management LLC’s investment portfolio, making the stock its 4th largest position. Riverpark Capital Management LLC’s holdings in Charles Schwab were worth $27,904,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Cramer Rosenthal Mcglynn LLC boosted its stake in Charles Schwab by 241.4% during the fourth quarter. Cramer Rosenthal Mcglynn LLC now owns 791,250 shares of the financial services provider’s stock worth $40,647,000 after buying an additional 559,480 shares during the last quarter. Teachers Insurance & Annuity Association of America acquired a new position in Charles Schwab during the fourth quarter worth $488,000. Baker Avenue Asset Management LP boosted its stake in Charles Schwab by 0.4% during the fourth quarter. Baker Avenue Asset Management LP now owns 291,144 shares of the financial services provider’s stock worth $14,956,000 after buying an additional 1,137 shares during the last quarter. Jafra Capital Management LP boosted its stake in Charles Schwab by 333.3% during the fourth quarter. Jafra Capital Management LP now owns 108,320 shares of the financial services provider’s stock worth $5,564,000 after buying an additional 83,320 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Charles Schwab by 2.7% in the 4th quarter. Franklin Resources Inc. now owns 9,683,995 shares of the financial services provider’s stock valued at $497,500,000 after purchasing an additional 254,720 shares during the last quarter. 80.60% of the stock is currently owned by institutional investors.
Shares of Charles Schwab Corp (NYSE:SCHW) opened at $57.70 on Monday. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $77,691.48, a price-to-earnings ratio of 35.18, a P/E/G ratio of 1.41 and a beta of 1.58. Charles Schwab Corp has a 1-year low of $37.16 and a 1-year high of $57.73.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend was Thursday, February 8th. This is an increase from Charles Schwab’s previous quarterly dividend of $0.08. Charles Schwab’s payout ratio is currently 24.84%.
In related news, Chairman Charles R. Schwab sold 240,000 shares of the business’s 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 filing with the SEC, which is accessible through this link. Also, Chairman Charles R. Schwab sold 300,000 shares of the business’s 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. Insiders sold a total of 917,251 shares of company stock worth $50,053,858 in the last quarter. Company insiders own 12.00% of the company’s stock.
Several equities analysts have recently commented on SCHW shares. Argus upped their price target on Charles Schwab from $59.00 to $69.00 and gave the company a “buy” rating in a research note on Thursday, January 18th. Credit Suisse Group started coverage on Charles Schwab in a research note on Thursday, November 30th. They issued an “outperform” rating and a $55.00 price target on the stock. Zacks Investment Research raised Charles Schwab from a “hold” rating to a “strong-buy” rating and set a $60.00 price target on the stock in a research note on Friday, January 5th. SunTrust Banks reaffirmed a “buy” rating and issued a $63.00 price target (up previously from $56.00) on shares of Charles Schwab in a research note on Tuesday, December 26th. Finally, Citigroup lowered Charles Schwab from a “neutral” rating to a “sell” rating and set a $49.00 price target on the stock. in a research note on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company. Charles Schwab has a consensus rating of “Buy” and a consensus target price of $54.33.
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About Charles Schwab
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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