Engineers Gate Manager LP Purchases Shares of 35,306 Charles Schwab Co. (SCHW)

Engineers Gate Manager LP acquired a new position in Charles Schwab Co. (NYSE:SCHW) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 35,306 shares of the financial services provider’s stock, valued at approximately $1,844,000.

Other hedge funds also recently modified their holdings of the company. Bank of The West lifted its holdings in shares of Charles Schwab by 1.9% in the 4th quarter. Bank of The West now owns 105,131 shares of the financial services provider’s stock worth $5,400,000 after acquiring an additional 1,948 shares during the last quarter. Atria Investments LLC lifted its holdings in shares of Charles Schwab by 11.8% in the 4th quarter. Atria Investments LLC now owns 18,096 shares of the financial services provider’s stock worth $930,000 after acquiring an additional 1,907 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Charles Schwab by 311.7% in the 4th quarter. State of Alaska Department of Revenue now owns 141,615 shares of the financial services provider’s stock worth $7,272,000 after acquiring an additional 107,221 shares during the last quarter. Peregrine Asset Advisers Inc. acquired a new position in shares of Charles Schwab in the 4th quarter worth approximately $5,306,000. Finally, Aviance Capital Partners LLC lifted its holdings in shares of Charles Schwab by 52.1% in the 4th quarter. Aviance Capital Partners LLC now owns 59,944 shares of the financial services provider’s stock worth $3,079,000 after acquiring an additional 20,531 shares during the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

In other news, EVP Jonathan M. Craig sold 2,629 shares of the firm’s stock in a transaction on Monday, April 16th. The shares were sold at an average price of $52.11, for a total value of $136,997.19. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Charles R. Schwab sold 450,000 shares of the firm’s stock in a transaction on Monday, May 7th. The shares were sold at an average price of $56.65, for a total transaction of $25,492,500.00. The disclosure for this sale can be found here. Insiders sold a total of 1,948,471 shares of company stock worth $109,404,096 over the last 90 days. Company insiders own 11.50% of the company’s stock.

Several brokerages have recently commented on SCHW. ValuEngine upgraded shares of Charles Schwab from a “hold” rating to a “buy” rating in a report on Friday, April 27th. Morgan Stanley decreased their price objective on shares of Charles Schwab from $65.00 to $63.00 and set an “overweight” rating on the stock in a report on Wednesday, April 25th. Credit Suisse Group decreased their price objective on shares of Charles Schwab from $62.00 to $61.00 and set an “outperform” rating on the stock in a report on Monday, April 23rd. Jefferies Group reiterated a “buy” rating and set a $65.00 target price on shares of Charles Schwab in a report on Friday, April 20th. Finally, Deutsche Bank increased their target price on shares of Charles Schwab from $54.00 to $55.00 and gave the stock a “hold” rating in a report on Tuesday, April 17th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $55.53.

Charles Schwab opened at $59.32 on Friday, MarketBeat Ratings reports. The company has a market cap of $79.44 billion, a price-to-earnings ratio of 32.71, a price-to-earnings-growth ratio of 2.11 and a beta of 1.56. Charles Schwab Co. has a 52-week low of $58.69 and a 52-week high of $59.03. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.25.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Monday, April 16th. The financial services provider reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.01. Charles Schwab had a net margin of 28.80% and a return on equity of 16.84%. The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.38 billion. During the same period last year, the business earned $0.39 EPS. The company’s revenue was up 15.2% on a year-over-year basis. equities analysts expect that Charles Schwab Co. will post 2.43 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 25th. Stockholders of record on Friday, May 11th will be issued a $0.10 dividend. The ex-dividend date is Thursday, May 10th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.67%. Charles Schwab’s payout ratio is 24.39%.

Charles Schwab Profile

The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.

Institutional Ownership by Quarter for Charles Schwab (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.



Leave a Reply