Northwestern Mutual Investment Management Company LLC raised its holdings in Charles Schwab Co. (NYSE:SCHW) by 34.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 59,590 shares of the financial services provider’s stock after acquiring an additional 15,180 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in Charles Schwab were worth $2,003,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in Charles Schwab in the 4th quarter valued at $520,281,000. Massachusetts Financial Services Co. MA lifted its position in Charles Schwab by 175.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 14,348,597 shares of the financial services provider’s stock valued at $682,419,000 after acquiring an additional 9,143,865 shares in the last quarter. Nuveen Asset Management LLC lifted its position in Charles Schwab by 99.4% in the 4th quarter. Nuveen Asset Management LLC now owns 11,764,473 shares of the financial services provider’s stock valued at $559,518,000 after acquiring an additional 5,864,634 shares in the last quarter. BlackRock Inc. lifted its position in Charles Schwab by 5.7% in the 1st quarter. BlackRock Inc. now owns 91,681,742 shares of the financial services provider’s stock valued at $3,082,342,000 after acquiring an additional 4,903,256 shares in the last quarter. Finally, Parnassus Investments CA increased its stake in Charles Schwab by 29.6% in the 1st quarter. Parnassus Investments CA now owns 15,252,546 shares of the financial services provider’s stock valued at $512,791,000 after buying an additional 3,486,934 shares during the last quarter. 82.30% of the stock is currently owned by institutional investors.
In other news, Director Stephen T. Mclin sold 11,082 shares of the company’s stock in a transaction that occurred on Tuesday, April 21st. The shares were 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 approximately $259,846.17. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Bernard J. Clark sold 12,629 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $32.94, for a total transaction of $415,999.26. The disclosure for this sale can be found here. Corporate insiders own 10.80% of the company’s stock.
NYSE SCHW opened at $32.83 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $42.77 billion, a P/E ratio of 12.63, a P/E/G ratio of 1.59 and a beta of 1.27. Charles Schwab Co. has a 12-month low of $28.00 and a 12-month high of $51.65. The firm has a 50-day moving average price of $35.26 and a two-hundred day moving average price of $42.02.
Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data 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 business had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.61 billion. Charles Schwab had a net margin of 33.30% and a return on equity of 18.25%. The business’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.69 EPS. Equities analysts expect that Charles Schwab Co. will post 2.09 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend was Thursday, May 7th. Charles Schwab’s dividend payout ratio is currently 26.47%.
SCHW has been the topic of several recent research reports. Compass Point lowered 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 note on Wednesday. Argus lowered 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 note on Thursday, April 16th. Wells Fargo & Co lowered their price objective on shares of Charles Schwab from $38.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Monday, April 6th. Cfra lowered their price objective on shares of Charles Schwab from $55.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. Finally, Deutsche Bank lowered their price objective on shares of Charles Schwab from $38.00 to $36.00 and set a “hold” rating on the stock in a research note on Friday, May 15th. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $42.75.
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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