Coldstream Capital Management Inc. purchased a new position in shares of The Charles Schwab Co. (NYSE:SCHW – Get Rating) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 17,607 shares of the financial services provider’s stock, valued at approximately $1,466,000.
A number of other large investors also recently modified their holdings of SCHW. Fisher Asset Management LLC bought a new stake in shares of Charles Schwab during the third quarter valued at approximately $1,109,194,000. Dodge & Cox increased its position in shares of Charles Schwab by 9.4% during the second quarter. Dodge & Cox now owns 79,042,463 shares of the financial services provider’s stock valued at $4,993,903,000 after purchasing an additional 6,803,282 shares during the period. Boston Partners increased its position in shares of Charles Schwab by 37.0% during the third quarter. Boston Partners now owns 10,355,686 shares of the financial services provider’s stock valued at $747,479,000 after purchasing an additional 2,798,159 shares during the period. Vanguard Group Inc. increased its position in shares of Charles Schwab by 2.1% during the third quarter. Vanguard Group Inc. now owns 124,437,061 shares of the financial services provider’s stock valued at $8,943,291,000 after purchasing an additional 2,589,952 shares during the period. Finally, Brown Advisory Inc. increased its position in shares of Charles Schwab by 49.3% during the second quarter. Brown Advisory Inc. now owns 4,986,327 shares of the financial services provider’s stock valued at $315,036,000 after purchasing an additional 1,645,558 shares during the period. 73.49% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
SCHW has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft lowered their price target on Charles Schwab from $109.00 to $83.00 and set a “buy” rating on the stock in a research report on Tuesday, March 14th. Citigroup upgraded Charles Schwab from a “neutral” rating to a “buy” rating and lowered their price target for the company from $83.00 to $75.00 in a research report on Monday, March 13th. Barclays lowered their price target on Charles Schwab from $87.00 to $79.00 and set an “equal weight” rating on the stock in a research report on Monday, January 30th. Bank of America lowered their price target on Charles Schwab from $74.00 to $60.00 in a research report on Monday, March 13th. Finally, JPMorgan Chase & Co. initiated coverage on Charles Schwab in a research report on Friday, March 10th. They issued a “buy” rating and a $97.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Charles Schwab currently has an average rating of “Moderate Buy” and an average target price of $85.04.
Charles Schwab Trading Down 2.5 %
Charles Schwab (NYSE:SCHW – Get Rating) last issued its quarterly earnings results on Wednesday, January 18th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($0.03). Charles Schwab had a net margin of 34.60% and a return on equity of 24.94%. The firm had revenue of $5.50 billion for the quarter, compared to analyst estimates of $5.55 billion. During the same period last year, the company earned $0.86 EPS. The company’s revenue was up 16.8% compared to the same quarter last year. As a group, research analysts predict that The Charles Schwab Co. will post 4.1 earnings per share for the current year.
Charles Schwab Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, February 24th. Shareholders of record on Friday, February 10th were paid a $0.25 dividend. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.22. The ex-dividend date was Thursday, February 9th. This represents a $1.00 annualized dividend and a yield of 1.77%. Charles Schwab’s dividend payout ratio is presently 28.57%.
Insider Buying and Selling at Charles Schwab
In other Charles Schwab news, Chairman Charles R. Schwab sold 62,500 shares of the stock in a transaction dated Wednesday, February 8th. The stock was sold at an average price of $81.54, for a total value of $5,096,250.00. Following the transaction, the chairman now owns 30,731,256 shares of the company’s stock, valued at $2,505,826,614.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Charles Schwab news, CEO Walter W. Bettinger purchased 50,000 shares of the company’s stock in a transaction dated Tuesday, March 14th. The shares were bought at an average price of $59.31 per share, with a total value of $2,965,500.00. Following the completion of the transaction, the chief executive officer now directly owns 656,501 shares in the company, valued at approximately $38,937,074.31. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Charles R. Schwab sold 62,500 shares of the firm’s stock in a transaction dated Wednesday, February 8th. The stock was sold at an average price of $81.54, for a total value of $5,096,250.00. Following the sale, the chairman now directly owns 30,731,256 shares in the company, valued at approximately $2,505,826,614.24. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 71,000 shares of company stock valued at $4,165,460 and have sold 728,106 shares valued at $58,067,403. Insiders own 7.50% of the company’s stock.
Charles Schwab Company Profile
The Charles Schwab Corp. is a savings and loan holding company, which engages in the provision of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. It operates through the Investor Services and Advisor Services segments. The Investor Services segment includes retail brokerage and banking services to individual investors, and retirement plan services, as well as other corporate brokerage services, to businesses and their employees.
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