National Asset Management Inc. boosted its stake in shares of Charles Schwab Co. (NYSE:SCHW) by 41.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,949 shares of the financial services provider’s stock after purchasing an additional 10,850 shares during the quarter. National Asset Management Inc.’s holdings in Charles Schwab were worth $1,243,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Engrave Wealth Partners LLC purchased a new stake in Charles Schwab during the 4th quarter worth about $25,000. CX Institutional increased its holdings in Charles Schwab by 109.9% during the 1st quarter. CX Institutional now owns 745 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 390 shares during the period. Princeton Global Asset Management LLC acquired a new position in shares of Charles Schwab during the 4th quarter worth about $31,000. Ballast Advisors LLC acquired a new position in shares of Charles Schwab during the 1st quarter worth about $33,000. Finally, AGF Investments LLC acquired a new position in shares of Charles Schwab during the 1st quarter worth about $33,000. Institutional investors own 82.30% of the company’s stock.
SCHW has been the subject of several analyst reports. Deutsche Bank lowered their price objective on Charles Schwab from $38.00 to $36.00 and set a “hold” rating for the company in a research report on Friday, May 15th. Compass Point cut Charles Schwab from a “buy” rating to a “neutral” rating and set a $35.00 price objective for the company. in a research report on Wednesday. Bank of America cut Charles Schwab from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $40.00 to $35.00 in a research report on Thursday. Citigroup cut Charles Schwab from a “buy” rating to a “neutral” rating and set a $37.50 price objective for the company. in a research report on Wednesday, April 15th. Finally, Argus lowered their price objective on Charles Schwab from $54.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, April 16th. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $42.75.
In other Charles Schwab news, Director Stephen T. Mclin sold 11,082 shares of the stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $35.61, for a total transaction of $394,630.02. Following the completion of the sale, the director now directly owns 7,297 shares of the company’s stock, valued at approximately $259,846.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Bernard J. Clark sold 12,629 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $32.94, for a total value of $415,999.26. The disclosure for this sale can be found here. 10.80% of the stock is currently owned by company insiders.
Charles Schwab stock traded down $0.39 during mid-day trading on Friday, reaching $32.83. 7,293,350 shares of the company were exchanged, compared to its average volume of 8,901,745. Charles Schwab Co. has a twelve month low of $28.00 and a twelve month high of $51.65. The firm’s 50-day simple moving average is $35.26 and its two-hundred day simple moving average is $42.02. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.42 and a current ratio of 0.42. The firm has a market cap of $42.77 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 1.59 and a beta of 1.27.
Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.05). Charles Schwab had a return on equity of 18.25% and a net margin of 33.30%. The company had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same period in the previous year, the business posted $0.69 earnings per share. The firm’s revenue was down 3.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Charles Schwab Co. will post 2.09 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, May 7th. This represents a $0.72 dividend on an annualized basis and a yield of 2.19%. Charles Schwab’s payout ratio is 26.47%.
Charles Schwab 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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