Nicholas Hoffman & Company LLC. purchased a new stake in shares of Charles Schwab Co. (NYSE:SCHW) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 16,333 shares of the financial services provider’s stock, valued at approximately $549,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. National Asset Management Inc. grew its holdings in Charles Schwab by 41.6% during the 1st quarter. National Asset Management Inc. now owns 36,949 shares of the financial services provider’s stock worth $1,243,000 after acquiring an additional 10,850 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Charles Schwab by 16.8% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 53,157 shares of the financial services provider’s stock worth $1,787,000 after acquiring an additional 7,656 shares in the last quarter. Northwestern Mutual Investment Management Company LLC grew its holdings in Charles Schwab by 34.2% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 59,590 shares of the financial services provider’s stock worth $2,003,000 after acquiring an additional 15,180 shares in the last quarter. AGF Investments LLC acquired a new position in Charles Schwab during the 1st quarter worth $33,000. Finally, CORDA Investment Management LLC. acquired a new position in Charles Schwab during the 1st quarter worth $9,836,000. 82.30% of the stock is owned by institutional investors and hedge funds.
Several research analysts have weighed in on SCHW shares. Keefe, Bruyette & Woods lowered shares of Charles Schwab from an “outperform” rating to a “market perform” rating in a report on Sunday, April 19th. Deutsche Bank decreased their price objective on shares of Charles Schwab from $38.00 to $36.00 and set a “hold” rating for the company in a report on Friday, May 15th. Cfra reduced their price target on shares of Charles Schwab from $55.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, April 15th. Compass Point downgraded shares of Charles Schwab from a “buy” rating to a “neutral” rating and set a $35.00 price target on the stock. in a research report on Wednesday. Finally, Argus reduced their price target on shares of Charles Schwab from $54.00 to $42.00 and set a “buy” rating on the stock in a research report on Thursday, April 16th. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Charles Schwab currently has a consensus rating of “Hold” and an average target price of $42.75.
NYSE SCHW traded down $0.39 during trading on Friday, reaching $32.83. The company’s stock had a trading volume of 7,293,350 shares, compared to its average volume of 8,901,745. The business has a 50-day moving average price of $35.26 and a 200-day moving average price of $42.02. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.36. Charles Schwab Co. has a 1-year low of $28.00 and a 1-year high of $51.65. The stock has a market capitalization of $42.77 billion, a PE ratio of 12.82, a PEG ratio of 1.59 and a beta of 1.27.
Charles Schwab (NYSE:SCHW) last announced its earnings results on Wednesday, April 15th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.05). The company had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.61 billion. Charles Schwab had a return on equity of 18.25% and a net margin of 33.30%. The company’s revenue was down 3.9% compared to the same quarter last year. During the same period last year, the firm posted $0.69 EPS. As a group, analysts expect that Charles Schwab Co. will post 2.09 earnings per share for the current year.
The firm also recently announced 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 presently 26.47%.
In other news, Director Stephen T. Mclin sold 11,082 shares of Charles Schwab stock in a transaction 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 owns 7,297 shares of the company’s stock, valued at $259,846.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles A. Ruffel bought 2,460 shares of the company’s stock in a transaction dated Monday, April 27th. The shares were purchased at an average cost of $37.08 per share, with a total value of $91,216.80. Following the acquisition, the director now directly owns 4,355 shares of the company’s stock, valued at approximately $161,483.40. The disclosure for this purchase can be found here. Corporate insiders own 10.80% of the company’s stock.
About Charles Schwab
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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