Atlantic Trust Group LLC boosted its stake in Charles Schwab Corp (NYSE:SCHW) by 851.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,492,315 shares of the financial services provider’s stock after buying an additional 1,335,522 shares during the quarter. Atlantic Trust Group LLC owned approximately 0.11% of Charles Schwab worth $65,274,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of SCHW. Beach Investment Management LLC. purchased a new position in Charles Schwab in the 2nd quarter valued at about $250,000. WCM Investment Management CA lifted its stake in Charles Schwab by 27.1% in the 2nd quarter. WCM Investment Management CA now owns 903,785 shares of the financial services provider’s stock valued at $38,827,000 after buying an additional 192,475 shares in the last quarter. KBC Group NV lifted its stake in Charles Schwab by 19.8% in the 2nd quarter. KBC Group NV now owns 287,103 shares of the financial services provider’s stock valued at $12,334,000 after buying an additional 47,489 shares in the last quarter. Nikko Asset Management Americas Inc. lifted its stake in Charles Schwab by 980.9% in the 2nd quarter. Nikko Asset Management Americas Inc. now owns 254,000 shares of the financial services provider’s stock valued at $10,912,000 after buying an additional 230,500 shares in the last quarter. Finally, Blair William & Co. IL lifted its stake in Charles Schwab by 1.8% in the 2nd quarter. Blair William & Co. IL now owns 1,200,552 shares of the financial services provider’s stock valued at $51,576,000 after buying an additional 21,384 shares in the last quarter. 79.55% of the stock is currently owned by hedge funds and other institutional investors.
SCHW has been the topic of a number of research reports. SunTrust Banks raised their target price on shares of Charles Schwab to $56.00 and gave the stock an “average” rating in a research note on Friday, December 15th. They noted that the move was a valuation call. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $47.00 target price on shares of Charles Schwab in a research note on Friday, September 15th. Jefferies Group reissued a “buy” rating and issued a $49.00 target price on shares of Charles Schwab in a research note on Friday, September 15th. BidaskClub raised shares of Charles Schwab from a “hold” rating to a “buy” rating in a research note on Tuesday, September 26th. Finally, Deutsche Bank raised their target price on shares of Charles Schwab from $46.00 to $47.00 and gave the stock a “hold” rating in a research note on Wednesday, October 25th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $48.53.
Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.01. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.18 billion. Charles Schwab had a net margin of 27.30% and a return on equity of 15.77%. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.35 EPS. analysts forecast that Charles Schwab Corp will post 1.62 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, November 24th. Stockholders of record on Friday, November 10th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.61%. The ex-dividend date was Thursday, November 9th. Charles Schwab’s payout ratio is presently 20.51%.
In other news, insider Walter W. Bettinger purchased 72,510 shares of Charles Schwab stock in a transaction dated Tuesday, November 7th. The shares were purchased at an average price of $27.21 per share, with a total value of $1,972,997.10. Following the transaction, the insider now owns 41,330 shares in the company, valued at $1,124,589.30. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Bernard J. Clark sold 75,244 shares of Charles Schwab stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $43.98, for a total transaction of $3,309,231.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,778,324 shares of company stock worth $82,710,964. Corporate insiders own 12.00% of the company’s stock.
Charles Schwab Profile
The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.
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