The Charles Schwab Co. (NYSE:SCHW) Position Reduced by Morningstar Investment Services LLC

Morningstar Investment Services LLC trimmed its stake in shares of The Charles Schwab Co. (NYSE:SCHW – Get Rating) by 1.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,183,324 shares of the financial services provider’s stock after selling 14,742 shares during the quarter. Charles Schwab makes up 1.3% of Morningstar Investment Services LLC’s portfolio, making the stock its 17th biggest position. Morningstar Investment Services LLC owned 0.07% of Charles Schwab worth $98,271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the business. Toronto Dominion Bank lifted its position in shares of Charles Schwab by 32,224.4% in the 4th quarter. Toronto Dominion Bank now owns 225,994,826 shares of the financial services provider’s stock worth $18,816,289,000 after buying an additional 225,295,680 shares during the last quarter. Vanguard Group Inc. lifted its position in Charles Schwab by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 124,437,061 shares of the financial services provider’s stock valued at $8,943,291,000 after purchasing an additional 2,589,952 shares during the last quarter. State Street Corp lifted its position in Charles Schwab by 1.1% in the 3rd quarter. State Street Corp now owns 65,566,364 shares of the financial services provider’s stock valued at $4,712,255,000 after purchasing an additional 717,683 shares during the last quarter. Alliancebernstein L.P. lifted its position in Charles Schwab by 7.4% in the 3rd quarter. Alliancebernstein L.P. now owns 20,767,564 shares of the financial services provider’s stock valued at $1,492,565,000 after purchasing an additional 1,431,879 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its position in Charles Schwab by 0.4% in the 3rd quarter. Nuveen Asset Management LLC now owns 17,076,247 shares of the financial services provider’s stock valued at $1,227,270,000 after purchasing an additional 68,423 shares during the last quarter. 73.49% of the stock is currently owned by institutional investors.

Charles Schwab Stock Performance

Charles Schwab stock traded down $0.16 on Friday, hitting $54.08. The company’s stock had a trading volume of 5,371,780 shares, compared to its average volume of 21,258,598. The firm has a market cap of $95.68 billion, a P/E ratio of 14.72, a price-to-earnings-growth ratio of 2.67 and a beta of 0.88. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.74. The company has a fifty day moving average price of $51.85 and a 200-day moving average price of $69.30. The Charles Schwab Co. has a one year low of $45.00 and a one year high of $86.63.

Charles Schwab (NYSE:SCHW – Get Rating) last posted its earnings results on Monday, April 17th. The financial services provider reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.03. Charles Schwab had a net margin of 34.82% and a return on equity of 27.83%. The business had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.13 billion. During the same quarter in the prior year, the firm earned $0.77 EPS. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. On average, equities analysts anticipate that The Charles Schwab Co. will post 3.35 earnings per share for the current year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 26th. Shareholders of record on Friday, May 12th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date is Thursday, May 11th. Charles Schwab’s dividend payout ratio is currently 27.32%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. JPMorgan Chase & Co. dropped their target price on shares of Charles Schwab from $86.00 to $85.00 in a report on Tuesday, April 18th. Morgan Stanley downgraded shares of Charles Schwab from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $99.00 to $68.00 in a report on Thursday, March 30th. Barclays dropped their target price on shares of Charles Schwab from $61.00 to $56.00 and set an “equal weight” rating on the stock in a report on Friday, April 14th. UBS Group dropped their target price on shares of Charles Schwab from $70.00 to $65.00 in a report on Tuesday, April 18th. Finally, Bank of America dropped their target price on shares of Charles Schwab from $53.00 to $51.00 in a report on Monday, April 17th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Charles Schwab presently has an average rating of “Moderate Buy” and an average price target of $68.73.

Insiders Place Their Bets

In related news, President Richard A. Wurster acquired 2,000 shares of the firm’s stock in a transaction on Friday, March 17th. The shares were purchased at an average price of $54.39 per share, with a total value of $108,780.00. Following the acquisition, the president now directly owns 101,391 shares in the company, valued at $5,514,656.49. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Jonathan M. Craig sold 34,667 shares of the stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $76.33, for a total value of $2,646,132.11. Following the sale, the insider now directly owns 11,159 shares in the company, valued at approximately $851,766.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Richard A. Wurster purchased 2,000 shares of the business’s stock in a transaction that occurred on Friday, March 17th. The stock was purchased at an average price of $54.39 per share, for a total transaction of $108,780.00. Following the completion of the transaction, the president now directly owns 101,391 shares in the company, valued at $5,514,656.49. The disclosure for this purchase can be found here. Insiders have purchased a total of 81,000 shares of company stock valued at $4,706,960 in the last 90 days. 6.60% of the stock is currently owned by insiders.

About Charles Schwab

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The Charles Schwab Corp. is a savings and loan holding company, which engages in the provision of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. It operates through the Investor Services and Advisor Services segments. The Investor Services segment includes retail brokerage and banking services to individual investors, and retirement plan services, as well as other corporate brokerage services, to businesses and their employees.