We Are One Seven LLC purchased a new stake in Charles Schwab Co. (NYSE:SCHW) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 50,238 shares of the financial services provider’s stock, valued at approximately $2,581,000. Charles Schwab accounts for 1.2% of We Are One Seven LLC’s portfolio, making the stock its 7th largest holding.
A number of other large investors also recently made changes to their positions in SCHW. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Charles Schwab by 1.7% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 76,544 shares of the financial services provider’s stock worth $3,348,000 after purchasing an additional 1,313 shares during the last quarter. New York State Common Retirement Fund grew its holdings in shares of Charles Schwab by 4.3% during the third quarter. New York State Common Retirement Fund now owns 4,419,155 shares of the financial services provider’s stock worth $193,294,000 after purchasing an additional 182,930 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Charles Schwab by 36.9% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 19,336 shares of the financial services provider’s stock worth $846,000 after purchasing an additional 5,210 shares during the last quarter. Commonwealth Equity Services Inc grew its holdings in shares of Charles Schwab by 5.6% during the third quarter. Commonwealth Equity Services Inc now owns 57,749 shares of the financial services provider’s stock worth $2,525,000 after purchasing an additional 3,037 shares during the last quarter. Finally, Stephens Inc. AR grew its holdings in shares of Charles Schwab by 17.0% during the third quarter. Stephens Inc. AR now owns 28,815 shares of the financial services provider’s stock worth $1,260,000 after purchasing an additional 4,188 shares during the last quarter. Hedge funds and other institutional investors own 80.54% of the company’s stock.
In other Charles Schwab news, EVP Jonathan M. Craig sold 5,000 shares of the stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $58.01, for a total value of $290,050.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Charles R. Schwab sold 300,000 shares of the stock in a transaction dated 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 922,251 shares of company stock worth $50,343,908 in the last three months. Insiders own 12.00% of the company’s stock.
SCHW stock opened at $56.18 on Wednesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.30 and a current ratio of 0.31. Charles Schwab Co. has a one year low of $37.16 and a one year high of $58.11. The stock has a market capitalization of $74,958.14, a price-to-earnings ratio of 34.91, a PEG ratio of 1.36 and a beta of 1.58.
Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.03. Charles Schwab had a return on equity of 16.03% and a net margin of 27.32%. The business had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the prior year, the firm posted $0.36 earnings per share. The firm’s revenue for the quarter was up 13.7% compared to the same quarter last year. analysts forecast that Charles Schwab Co. will post 2.4 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were paid a $0.10 dividend. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.08. The ex-dividend date was Thursday, February 8th. This represents a $0.40 annualized dividend and a yield of 0.71%. Charles Schwab’s dividend payout ratio is presently 24.84%.
Several brokerages have recently commented on SCHW. Credit Suisse Group began coverage on Charles Schwab in a report on Thursday, November 30th. They set an “outperform” rating and a $55.00 target price on the stock. Wells Fargo restated a “market perform” rating and set a $55.00 target price (up previously from $47.00) on shares of Charles Schwab in a report on Thursday, January 4th. Zacks Investment Research upgraded Charles Schwab from a “hold” rating to a “strong-buy” rating and set a $60.00 target price on the stock in a report on Friday, January 5th. Morgan Stanley increased their target price on Charles Schwab from $61.00 to $63.00 and gave the stock an “overweight” rating in a report on Tuesday, January 30th. Finally, Argus increased their target price on Charles Schwab from $59.00 to $69.00 and gave the stock a “buy” rating in a report on Thursday, January 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. Charles Schwab currently has an average rating of “Hold” and an average target price of $54.64.
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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.
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