The Manufacturers Life Insurance Company boosted its position in shares of The Charles Schwab Co. (NYSE:SCHW – Get Rating) by 4.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,301,060 shares of the financial services provider’s stock after acquiring an additional 126,858 shares during the quarter. The Manufacturers Life Insurance Company owned 0.18% of Charles Schwab worth $278,903,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. SBK Financial Inc. purchased a new position in Charles Schwab during the 4th quarter valued at about $25,000. Princeton Global Asset Management LLC raised its position in Charles Schwab by 104.5% in the 1st quarter. Princeton Global Asset Management LLC now owns 321 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 164 shares in the last quarter. Roble Belko & Company Inc acquired a new stake in Charles Schwab in the 1st quarter valued at about $30,000. Worth Asset Management LLC acquired a new stake in Charles Schwab in the 1st quarter valued at about $32,000. Finally, Joseph P. Lucia & Associates LLC acquired a new stake in Charles Schwab in the 1st quarter valued at about $33,000. 82.45% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on the company. Redburn Partners assumed coverage on Charles Schwab in a research report on Thursday, June 23rd. They issued a “neutral” rating on the stock. UBS Group increased their price target on Charles Schwab from $75.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, July 29th. Morgan Stanley reduced their price target on Charles Schwab from $98.00 to $93.00 and set an “overweight” rating on the stock in a research report on Monday, August 1st. Barclays started coverage on Charles Schwab in a research report on Wednesday, August 31st. They set an “equal weight” rating and a $81.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Charles Schwab from $90.00 to $95.00 in a research report on Friday, August 19th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $91.92.
Insider Activity at Charles Schwab
Charles Schwab Trading Down 0.3 %
NYSE:SCHW opened at $72.75 on Thursday. The stock’s 50 day moving average price is $68.92 and its 200 day moving average price is $71.72. The company has a market capitalization of $132.24 billion, a PE ratio of 23.93, a P/E/G ratio of 0.92 and a beta of 1.07. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.62. The Charles Schwab Co. has a 52-week low of $59.35 and a 52-week high of $96.24.
Charles Schwab (NYSE:SCHW – Get Rating) last announced its earnings results on Monday, July 18th. The financial services provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.06. Charles Schwab had a return on equity of 16.82% and a net margin of 33.09%. The company had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $5.04 billion. During the same period last year, the business posted $0.70 EPS. The company’s revenue was up 12.5% on a year-over-year basis. On average, research analysts anticipate that The Charles Schwab Co. will post 3.9 EPS for the current year.
Charles Schwab Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, August 26th. Investors of record on Friday, August 12th were paid a $0.22 dividend. The ex-dividend date was Thursday, August 11th. This is an increase from Charles Schwab’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.21%. Charles Schwab’s payout ratio is 28.95%.
Charles Schwab Profile
The Charles Schwab Corporation, together with 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, investment advisory, banking and trust, retirement plan, 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 and mutual fund clearing services, as well as compliance solutions.
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