Fiera Capital Corp lessened its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 98.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,500 shares of the financial services provider’s stock after selling 381,994 shares during the period. Fiera Capital Corp’s holdings in The Charles Schwab were worth $424,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. First Trust Advisors LP acquired a new position in shares of The Charles Schwab in the 1st quarter valued at about $1,805,000. CIBC Asset Management Inc increased its holdings in shares of The Charles Schwab by 22.3% in the 4th quarter. CIBC Asset Management Inc now owns 248,488 shares of the financial services provider’s stock valued at $13,180,000 after purchasing an additional 45,288 shares during the period. Almanack Investment Partners LLC. acquired a new position in shares of The Charles Schwab in the 4th quarter valued at about $413,000. Baker Tilly Financial LLC acquired a new position in shares of The Charles Schwab in the 4th quarter valued at about $278,000. Finally, State of Wisconsin Investment Board increased its holdings in The Charles Schwab by 9.8% in the fourth quarter. State of Wisconsin Investment Board now owns 1,602,355 shares of the financial services provider’s stock worth $84,989,000 after buying an additional 142,778 shares during the last quarter. Hedge funds and other institutional investors own 71.39% of the company’s stock.
A number of equities analysts recently commented on SCHW shares. Credit Suisse Group upgraded The Charles Schwab from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $74.00 to $86.00 in a report on Tuesday, April 27th. JMP Securities upgraded The Charles Schwab from a “market perform” rating to a “market outperform” rating and set a $80.00 price objective on the stock in a report on Thursday, April 15th. JPMorgan Chase & Co. increased their price objective on The Charles Schwab from $82.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, May 13th. Deutsche Bank Aktiengesellschaft increased their price objective on The Charles Schwab from $77.00 to $79.00 and gave the stock a “buy” rating in a report on Friday, April 9th. Finally, Citigroup increased their price objective on The Charles Schwab from $88.00 to $93.00 in a report on Friday, April 23rd. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The Charles Schwab has a consensus rating of “Buy” and an average target price of $79.44.
Shares of SCHW opened at $72.62 on Friday. The company has a market cap of $131.23 billion, a P/E ratio of 32.13, a PEG ratio of 1.62 and a beta of 1.09. The Charles Schwab Co. has a one year low of $31.63 and a one year high of $76.37. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.39. The stock has a fifty day moving average price of $70.25.
The Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Wednesday, April 14th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.02. The Charles Schwab had a net margin of 28.92% and a return on equity of 12.80%. The company had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.35 billion. During the same quarter in the previous year, the firm posted $0.62 EPS. The business’s revenue was up 80.2% compared to the same quarter last year. As a group, equities research analysts forecast that The Charles Schwab Co. will post 3.18 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 28th. Stockholders of record on Friday, May 14th were issued a dividend of $0.18 per share. The ex-dividend date was Thursday, May 13th. This represents a $0.72 annualized dividend and a dividend yield of 0.99%. The Charles Schwab’s payout ratio is 29.39%.
The 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 in 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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