Cramer Rosenthal Mcglynn LLC lifted its stake in Charles Schwab Corp (NYSE:SCHW) by 241.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 791,250 shares of the financial services provider’s stock after buying an additional 559,480 shares during the period. Cramer Rosenthal Mcglynn LLC owned about 0.06% of Charles Schwab worth $40,647,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of SCHW. Bogart Wealth LLC raised its holdings in shares of Charles Schwab by 1,100.0% in the 4th quarter. Bogart Wealth LLC now owns 2,040 shares of the financial services provider’s stock worth $105,000 after buying an additional 1,870 shares in the last quarter. Pinnacle Wealth Planning Services Inc. bought a new stake in Charles Schwab during the 4th quarter worth approximately $118,000. Zions Bancorporation grew its position in Charles Schwab by 1,545.3% during the 3rd quarter. Zions Bancorporation now owns 3,817 shares of the financial services provider’s stock worth $167,000 after acquiring an additional 3,585 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Charles Schwab during the 4th quarter worth approximately $187,000. Finally, Lourd Capital LLC bought a new stake in Charles Schwab during the 4th quarter worth approximately $208,000. 80.60% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently commented on SCHW shares. Argus increased their price target on Charles Schwab from $59.00 to $69.00 and gave the stock a “buy” rating in a research report on Thursday, January 18th. Credit Suisse Group started coverage on Charles Schwab in a research report on Thursday, November 30th. They set an “outperform” rating and a $55.00 price target on the stock. Zacks Investment Research upgraded Charles Schwab from a “hold” rating to a “strong-buy” rating and set a $60.00 price target on the stock in a research report on Friday, January 5th. SunTrust Banks restated a “buy” rating and set a $63.00 price target (up from $56.00) on shares of Charles Schwab in a research report 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 report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the stock. Charles Schwab currently has a consensus rating of “Buy” and a consensus target price of $54.33.
Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data 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 firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.24 billion. Charles Schwab had a return on equity of 16.03% and a net margin of 27.32%. The business’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period last year, the company earned $0.36 EPS. equities research analysts predict that Charles Schwab Corp will post 2.4 earnings per share for the current fiscal year.
The company 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 represents a $0.40 dividend on an annualized basis and a yield of 0.69%. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.08. The ex-dividend date was Thursday, February 8th. Charles Schwab’s dividend payout ratio (DPR) is presently 24.24%.
In other Charles Schwab news, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jonathan M. Craig sold 5,000 shares of the stock in a transaction on Monday, March 12th. The shares were sold at an average price of $58.01, for a total value of $290,050.00. The disclosure for this sale can be found here. Insiders sold a total of 922,251 shares of company stock worth $50,343,908 over the last quarter. Corporate insiders own 12.00% of the company’s stock.
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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