Arrowstreet Capital Limited Partnership trimmed its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW – Free Report) by 38.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 3,289,633 shares of the financial services provider’s stock after selling 2,033,759 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Charles Schwab were worth $328,667,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Charles Schwab by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 151,585,214 shares of the financial services provider’s stock worth $14,471,840,000 after acquiring an additional 403,133 shares during the period. State Street Corp lifted its holdings in shares of Charles Schwab by 1.0% during the 3rd quarter. State Street Corp now owns 73,156,290 shares of the financial services provider’s stock worth $6,984,231,000 after acquiring an additional 691,671 shares during the period. Geode Capital Management LLC lifted its holdings in Charles Schwab by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 37,667,640 shares of the financial services provider’s stock valued at $3,747,646,000 after purchasing an additional 98,242 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Charles Schwab by 0.3% during the 4th quarter. Franklin Resources Inc. now owns 30,184,369 shares of the financial services provider’s stock valued at $3,015,720,000 after purchasing an additional 78,020 shares during the last quarter. Finally, Primecap Management Co. CA lifted its holdings in Charles Schwab by 9.7% during the 4th quarter. Primecap Management Co. CA now owns 23,276,071 shares of the financial services provider’s stock valued at $2,325,512,000 after purchasing an additional 2,066,884 shares during the last quarter. 84.38% of the stock is owned by institutional investors.
Charles Schwab Stock Down 0.1%
Charles Schwab stock opened at $91.04 on Monday. The stock has a market capitalization of $158.32 billion, a PE ratio of 18.06, a price-to-earnings-growth ratio of 0.86 and a beta of 0.78. The Charles Schwab Corporation has a twelve month low of $83.96 and a twelve month high of $107.50. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.48. The company has a 50 day moving average of $91.05 and a 200-day moving average of $95.29.
Charles Schwab Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 8th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, May 8th. Charles Schwab’s payout ratio is currently 25.40%.
Key Stories Impacting Charles Schwab
Here are the key news stories impacting Charles Schwab this week:
- Positive Sentiment: Schwab reported monthly activity highlights for May, and the company said the month set records, reinforcing confidence in client growth and trading momentum. Schwab Reports Monthly Activity Highlights
- Positive Sentiment: Market commentary says the stock is also getting a lift from a broader rebound in financials and renewed investor focus on Schwab’s strong client and trading trends. Charles Schwab jumps as financials rebound and investors refocus on Schwab’s strong client/trading momentum
- Positive Sentiment: Recent analyst actions have been constructive, with firms raising earnings estimates and maintaining buy-style ratings, which supports the bullish setup for SCHW. Charles Schwab stock research page
- Neutral Sentiment: Schwab also announced the closure and liquidation of its Schwab Ariel Opportunities ETF, a fund-level action that appears unlikely to materially affect the parent company’s near-term stock performance. Schwab Asset Management Announces Closure and Liquidation of the Schwab Ariel Opportunities ETF (SAEF)
- Negative Sentiment: There is still some caution in the background from mixed institutional positioning and heavy insider selling over the past six months, which could limit upside if sentiment weakens. Charles Schwab jumps as financials rebound and investors refocus on Schwab’s strong client/trading momentum
Insider Transactions at Charles Schwab
In other Charles Schwab news, insider Paul V. Woolway sold 7,941 shares of the company’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $100.00, for a total transaction of $794,100.00. Following the sale, the insider directly owned 29,866 shares of the company’s stock, valued at approximately $2,986,600. This represents a 21.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nigel J. Murtagh sold 41,297 shares of the company’s stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $99.00, for a total transaction of $4,088,403.00. Following the sale, the insider directly owned 57,972 shares in the company, valued at $5,739,228. This trade represents a 41.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 59,700 shares of company stock valued at $5,889,131 over the last 90 days. 6.30% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
Several equities research analysts have weighed in on SCHW shares. Jefferies Financial Group lowered their price objective on shares of Charles Schwab from $122.00 to $118.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Weiss Ratings upgraded shares of Charles Schwab from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 23rd. Barclays lifted their price target on shares of Charles Schwab from $117.00 to $127.00 and gave the stock an “overweight” rating in a research report on Friday, May 15th. Raymond James Financial lifted their price target on shares of Charles Schwab from $126.00 to $137.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. Finally, Morgan Stanley decreased their price objective on shares of Charles Schwab from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $116.00.
Charles Schwab Company Profile
Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.
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Want to see what other hedge funds are holding SCHW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Charles Schwab Corporation (NYSE:SCHW – Free Report).
