Shell Asset Management Co. lowered its position in Charles Schwab Corp (NYSE:SCHW) by 10.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 183,701 shares of the financial services provider’s stock after selling 21,453 shares during the period. Shell Asset Management Co.’s holdings in Charles Schwab were worth $9,437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bogart Wealth LLC lifted its stake in 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 purchasing an additional 1,870 shares during the last quarter. Zions Bancorporation lifted its stake in 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 purchasing an additional 3,585 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Charles Schwab in the fourth quarter worth about $187,000. Lourd Capital LLC bought a new stake in Charles Schwab in the fourth quarter worth about $208,000. Finally, Fiduciary Trust Co. bought a new stake in Charles Schwab in the fourth quarter worth about $208,000. 79.47% of the stock is owned by institutional investors and hedge funds.
Several analysts have issued reports on the stock. Credit Suisse Group began coverage on shares of Charles Schwab in a research note on Thursday, November 30th. They issued an “outperform” rating and a $55.00 price objective for the company. Wells Fargo & Co reaffirmed a “market perform” rating and set a $55.00 price target (up previously from $47.00) on shares of Charles Schwab in a research note on Thursday, January 4th. Zacks Investment Research raised shares of Charles Schwab from a “hold” rating to a “strong-buy” rating and set a $60.00 price target for the company in a research note on Friday, January 5th. Morgan Stanley lifted their price target on shares of Charles Schwab from $61.00 to $63.00 and gave the company an “overweight” rating in a research note on Tuesday, January 30th. Finally, Argus lifted their price target on shares of Charles Schwab from $59.00 to $69.00 and gave the company a “buy” rating in a research note on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $53.88.
Charles Schwab Corp (SCHW) opened at $52.17 on Friday. The company has a market cap of $69,937.85, a P/E ratio of 31.81, a P/E/G ratio of 1.29 and a beta of 1.63. Charles Schwab Corp has a 12 month low of $37.16 and a 12 month high of $56.25. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.21.
Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. The company had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.24 billion. Charles Schwab had a net margin of 27.32% and a return on equity of 16.31%. Charles Schwab’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.36 earnings per share. analysts forecast that Charles Schwab Corp will post 2.39 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Friday, February 9th will be paid a $0.10 dividend. This is an increase from Charles Schwab’s previous quarterly dividend of $0.08. The ex-dividend date is Thursday, February 8th. This represents a $0.40 dividend on an annualized basis and a yield of 0.77%. Charles Schwab’s payout ratio is 24.84%.
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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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