Harel Insurance Investments & Financial Services Ltd. Decreases Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)


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Harel Insurance Investments & Financial Services Ltd. reduced its stake in The Charles Schwab Co. (NYSE:SCHW) by 43.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,955 shares of the financial services provider’s stock after selling 3,811 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in The Charles Schwab were worth $1,079,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in SCHW. Price T Rowe Associates Inc. MD boosted its stake in shares of The Charles Schwab by 93.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 85,073,735 shares of the financial services provider’s stock valued at $4,509,640,000 after purchasing an additional 41,059,393 shares during the period. Norges Bank purchased a new position in The Charles Schwab in the 4th quarter valued at about $749,957,000. JPMorgan Chase & Co. grew its stake in shares of The Charles Schwab by 39.1% during the fourth quarter. JPMorgan Chase & Co. now owns 37,431,291 shares of the financial services provider’s stock valued at $1,985,358,000 after acquiring an additional 10,530,658 shares in the last quarter. BlackRock Inc. increased its position in shares of The Charles Schwab by 5.9% during the fourth quarter. BlackRock Inc. now owns 102,465,246 shares of the financial services provider’s stock worth $5,434,757,000 after acquiring an additional 5,701,750 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of The Charles Schwab by 805.4% in the fourth quarter. Janus Henderson Group PLC now owns 4,752,556 shares of the financial services provider’s stock worth $252,074,000 after acquiring an additional 4,227,648 shares in the last quarter. 77.47% of the stock is currently owned by institutional investors.

SCHW has been the topic of several analyst reports. Credit Suisse Group upgraded The Charles Schwab from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $74.00 to $86.00 in a report on Monday. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price target on shares of The Charles Schwab from $88.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, April 29th. The Goldman Sachs Group upgraded shares of The Charles Schwab from a “buy” rating to a “conviction-buy” rating and increased their price objective for the company from $67.00 to $77.00 in a research note on Monday, April 5th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of The Charles Schwab from $77.00 to $79.00 and gave the stock a “buy” rating in a research report on Friday, April 9th. Finally, Wolfe Research raised shares of The Charles Schwab from a “peer perform” rating to an “outperform” rating and set a $87.00 price target on the stock in a research report on Monday, April 5th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $75.59.

NYSE:SCHW opened at $70.94 on Tuesday. The firm has a market capitalization of $128.11 billion, a PE ratio of 32.84 and a beta of 1.17. The stock has a 50 day moving average of $66.57 and a 200-day moving average of $56.23. The Charles Schwab Co. has a 52 week low of $31.63 and a 52 week high of $72.16. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.30.

The Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Wednesday, April 14th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.02. The Charles Schwab had a return on equity of 13.52% and a net margin of 29.80%. The business had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.35 billion. During the same quarter in the previous year, the firm posted $0.62 EPS. The business’s revenue for the quarter was up 80.2% compared to the same quarter last year. As a group, analysts predict that The Charles Schwab Co. will post 2.39 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 28th. Investors of record on Friday, May 14th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, May 13th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.01%. The Charles Schwab’s dividend payout ratio (DPR) is presently 26.47%.

In other news, CEO Walter W. Bettinger sold 242,002 shares of the stock in a transaction on Thursday, April 29th. The stock was sold at an average price of $70.68, for a total value of $17,104,701.36. Following the completion of the transaction, the chief executive officer now owns 332,584 shares of the company’s stock, valued at $23,507,037.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Jonathan M. Craig sold 2,241 shares of the firm’s stock in a transaction on Tuesday, April 6th. The shares were sold at an average price of $67.94, for a total value of $152,253.54. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,305,954 shares of company stock worth $145,975,294. 10.80% of the stock is currently owned by insiders.

The Charles Schwab Company Profile

The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates in 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.

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Institutional Ownership by Quarter for The Charles Schwab (NYSE:SCHW)

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