Price Capital Management Inc. Buys New Stake in Charles Schwab Corp (SCHW)

Price Capital Management Inc. bought a new position in Charles Schwab Corp (NYSE:SCHW) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 66,873 shares of the financial services provider’s stock, valued at approximately $3,435,000. Charles Schwab accounts for 1.2% of Price Capital Management Inc.’s holdings, making the stock its 15th largest holding.

Several other hedge funds and other institutional investors also recently modified their holdings of SCHW. Bogart Wealth LLC lifted its stake in shares of Charles Schwab by 1,100.0% in the fourth quarter. Bogart Wealth LLC now owns 2,040 shares of the financial services provider’s stock worth $105,000 after acquiring an additional 1,870 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Charles Schwab in the fourth quarter worth about $187,000. Zions Bancorporation lifted its stake in shares of Charles Schwab by 1,545.3% in the third quarter. Zions Bancorporation now owns 3,817 shares of the financial services provider’s stock worth $167,000 after acquiring an additional 3,585 shares in the last quarter. Fiduciary Trust Co. acquired a new position in shares of Charles Schwab in the fourth quarter worth about $208,000. Finally, Lourd Capital LLC acquired a new position in shares of Charles Schwab in the fourth quarter worth about $208,000. 79.72% of the stock is owned by institutional investors.

Several research analysts recently commented on SCHW shares. Zacks Investment Research upgraded Charles Schwab from a “hold” rating to a “strong-buy” rating and set a $60.00 price target on the stock in a research note on Friday, January 5th. Wells Fargo & Co reiterated a “market perform” rating and issued a $55.00 price target (up previously from $47.00) on shares of Charles Schwab in a research note on Thursday, January 4th. SunTrust Banks reiterated a “buy” rating and issued a $63.00 price target (up previously from $56.00) on shares of Charles Schwab in a research note on Tuesday, December 26th. Credit Suisse Group reiterated a “buy” rating and issued a $64.00 price target (up previously from $55.00) on shares of Charles Schwab in a research note on Friday, January 12th. Finally, Deutsche Bank boosted their price target on Charles Schwab from $46.00 to $47.00 and gave the stock a “hold” rating in a research note on Wednesday, October 25th. One analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Charles Schwab presently has an average rating of “Buy” and an average price target of $53.88.

In other news, Chairman Charles R. Schwab sold 200,000 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $44.29, for a total transaction of $8,858,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Terri R. Kallsen sold 1,982 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $50.55, for a total value of $100,190.10. Following the transaction, the executive vice president now directly owns 1,706 shares of the company’s stock, valued at $86,238.30. The disclosure for this sale can be found here. Insiders have sold 2,206,918 shares of company stock worth $109,958,290 in the last 90 days. 12.00% of the stock is currently owned by insiders.

Shares of Charles Schwab Corp (NYSE SCHW) opened at $52.03 on Thursday. Charles Schwab Corp has a one year low of $37.16 and a one year high of $56.25. The stock has a market capitalization of $69,750.00, a P/E ratio of 32.32, a price-to-earnings-growth ratio of 1.30 and a beta of 1.63. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.21.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.03. Charles Schwab had a return on equity of 16.31% and a net margin of 27.32%. The firm had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the prior year, the firm posted $0.36 earnings per share. Charles Schwab’s revenue for the quarter was up 13.7% compared to the same quarter last year. equities research analysts expect that Charles Schwab Corp will post 2.4 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Friday, February 9th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, February 8th. This represents a $0.40 annualized dividend and a yield of 0.77%. This is a boost from Charles Schwab’s previous quarterly dividend of $0.08. Charles Schwab’s dividend payout ratio is presently 19.88%.

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About Charles Schwab

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

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