Bronfman E.L. Rothschild L.P. cut its stake in Charles Schwab Co. (NYSE:SCHW) by 4.6% in the fourth quarter, Holdings Channel reports. The fund owned 36,116 shares of the financial services provider’s stock after selling 1,736 shares during the period. Bronfman E.L. Rothschild L.P.’s holdings in Charles Schwab were worth $1,500,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. LVW Advisors LLC raised its stake in shares of Charles Schwab by 3.9% in the fourth quarter. LVW Advisors LLC now owns 5,868 shares of the financial services provider’s stock worth $244,000 after acquiring an additional 218 shares during the last quarter. Wesbanco Bank Inc. raised its stake in shares of Charles Schwab by 3.2% in the fourth quarter. Wesbanco Bank Inc. now owns 7,946 shares of the financial services provider’s stock worth $330,000 after acquiring an additional 250 shares during the last quarter. Good Life Advisors LLC raised its stake in shares of Charles Schwab by 4.0% in the fourth quarter. Good Life Advisors LLC now owns 6,531 shares of the financial services provider’s stock worth $271,000 after acquiring an additional 252 shares during the last quarter. First Personal Financial Services raised its stake in shares of Charles Schwab by 51.9% in the fourth quarter. First Personal Financial Services now owns 825 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 282 shares during the last quarter. Finally, Massey Quick Simon & CO. LLC raised its stake in shares of Charles Schwab by 29.2% in the fourth quarter. Massey Quick Simon & CO. LLC now owns 1,260 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 285 shares during the last quarter. 78.42% of the stock is owned by institutional investors.
In related news, CEO Walter W. Bettinger purchased 93,090 shares of Charles Schwab stock in a transaction dated Monday, December 24th. The stock was bought at an average price of $39.09 per share, for a total transaction of $3,638,888.10. Following the completion of the acquisition, the chief executive officer now directly owns 335,093 shares of the company’s stock, valued at $13,098,785.37. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Walter W. Bettinger bought 124,669 shares of Charles Schwab stock in a transaction that occurred on Wednesday, December 26th. The shares were acquired at an average price of $38.81 per share, with a total value of $4,838,403.89. Following the acquisition, the insider now directly owns 335,093 shares of the company’s stock, valued at approximately $13,004,959.33. The disclosure for this purchase can be found here. Insiders sold 356,416 shares of company stock valued at $16,652,483 in the last ninety days. Insiders own 11.50% of the company’s stock.
A number of brokerages have weighed in on SCHW. Zacks Investment Research downgraded shares of Charles Schwab from a “hold” rating to a “sell” rating in a research note on Monday, January 14th. Deutsche Bank dropped their price target on shares of Charles Schwab from $54.00 to $53.00 and set a “buy” rating for the company in a research note on Friday. ValuEngine downgraded shares of Charles Schwab from a “hold” rating to a “sell” rating in a research note on Friday, February 22nd. Finally, Citigroup raised shares of Charles Schwab from a “sell” rating to a “neutral” rating and set a $44.08 price target for the company in a research note on Sunday, December 2nd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $53.15.
SCHW opened at $45.45 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.08 and a debt-to-equity ratio of 0.38. The company has a market cap of $60.58 billion, a P/E ratio of 18.55, a price-to-earnings-growth ratio of 1.02 and a beta of 1.34. Charles Schwab Co. has a fifty-two week low of $37.83 and a fifty-two week high of $60.22.
Charles Schwab (NYSE:SCHW) last issued its earnings results on Wednesday, January 16th. The financial services provider reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.01. Charles Schwab had a net margin of 34.61% and a return on equity of 20.11%. The firm had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter in the prior year, the firm earned $0.44 earnings per share. The business’s quarterly revenue was up 19.0% on a year-over-year basis. On average, equities research analysts anticipate that Charles Schwab Co. will post 2.81 earnings per share for the current fiscal year.
Charles Schwab declared that its Board of Directors has approved a stock buyback program on Wednesday, January 30th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 6.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 28th. Shareholders of record on Thursday, February 14th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.50%. The ex-dividend date was Wednesday, February 13th. This is an increase from Charles Schwab’s previous quarterly dividend of $0.13. Charles Schwab’s dividend payout ratio is presently 27.76%.
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Charles Schwab Company Profile
The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, 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, retirement plan, and mutual fund clearing services.
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