Trail Ridge Investment Advisors LLC acquired a new stake in The Charles Schwab Co. (NYSE:SCHW – Get Rating) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 4,180 shares of the financial services provider’s stock, valued at approximately $352,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Steph & Co. bought a new position in Charles Schwab in the 4th quarter valued at $25,000. Horan Securities Inc. bought a new position in Charles Schwab in the 4th quarter valued at $27,000. Sierra Capital LLC bought a new position in Charles Schwab in the 4th quarter valued at $28,000. Lloyd Advisory Services LLC. bought a new position in Charles Schwab in the 4th quarter valued at $29,000. Finally, Arlington Partners LLC bought a new position in Charles Schwab in the 4th quarter valued at $32,000. Hedge funds and other institutional investors own 87.13% of the company’s stock.
In related news, EVP Jonathan M. Craig sold 4,016 shares of the stock in a transaction that occurred on Thursday, April 7th. The stock was sold at an average price of $80.02, for a total transaction of $321,360.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Peter B. Crawford sold 3,114 shares of the stock in a transaction that occurred on Wednesday, March 16th. The shares were sold at an average price of $87.01, for a total value of $270,949.14. The disclosure for this sale can be found here. Insiders have bought 104,169 shares of company stock valued at $7,081,708 over the last ninety days. 7.50% of the stock is owned by insiders.
Charles Schwab (NYSE:SCHW – Get Rating) last posted its earnings results on Monday, April 18th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.08). The business had revenue of $4.67 billion during the quarter, compared to analyst estimates of $4.82 billion. Charles Schwab had a net margin of 31.24% and a return on equity of 14.42%. The firm’s revenue was down .9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.84 earnings per share. As a group, sell-side analysts expect that The Charles Schwab Co. will post 3.88 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 27th. Stockholders of record on Friday, May 13th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, May 12th. This represents a $0.80 annualized dividend and a dividend yield of 1.24%. Charles Schwab’s dividend payout ratio is currently 28.99%.
SCHW has been the subject of a number of recent research reports. The Goldman Sachs Group initiated coverage on Charles Schwab in a research report on Tuesday, April 26th. They set a “neutral” rating and a $75.00 target price for the company. Citigroup boosted their target price on Charles Schwab from $87.50 to $90.00 and gave the stock a “buy” rating in a research report on Friday, April 22nd. Deutsche Bank Aktiengesellschaft dropped their target price on Charles Schwab from $98.00 to $84.00 in a research report on Thursday, May 19th. Compass Point upgraded Charles Schwab from a “neutral” rating to a “buy” rating and set a $98.00 target price for the company in a research report on Tuesday, April 12th. Finally, Jefferies Financial Group dropped their target price on Charles Schwab to $95.00 in a research report on Friday, April 22nd. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Charles Schwab has a consensus rating of “Buy” and a consensus target price of $92.56.
About Charles Schwab (Get Rating)
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.
- Get a free copy of the StockNews.com research report on Charles Schwab (SCHW)
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