Allstate Corp Boosts Holdings in The Charles Schwab Co. (NYSE:SCHW)

Allstate Corp boosted its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 5.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,521 shares of the financial services provider’s stock after acquiring an additional 214 shares during the period. Allstate Corp’s holdings in Charles Schwab were worth $327,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Investment Research & Advisory Group Inc. raised its stake in Charles Schwab by 1.0% in the 4th quarter. Investment Research & Advisory Group Inc. now owns 58,979 shares of the financial services provider’s stock valued at $4,058,000 after purchasing an additional 607 shares during the last quarter. Morningstar Investment Services LLC lifted its stake in shares of Charles Schwab by 98.0% during the fourth quarter. Morningstar Investment Services LLC now owns 4,691,362 shares of the financial services provider’s stock valued at $326,284,000 after buying an additional 2,322,156 shares during the period. Brown Advisory Inc. boosted its position in Charles Schwab by 24.3% during the fourth quarter. Brown Advisory Inc. now owns 4,393,223 shares of the financial services provider’s stock worth $302,254,000 after acquiring an additional 857,734 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Charles Schwab by 22.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 883,379 shares of the financial services provider’s stock worth $60,776,000 after acquiring an additional 160,719 shares during the period. Finally, Retirement Systems of Alabama raised its holdings in Charles Schwab by 13.0% in the 4th quarter. Retirement Systems of Alabama now owns 1,329,388 shares of the financial services provider’s stock valued at $91,462,000 after acquiring an additional 152,967 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Buying and Selling

In other Charles Schwab news, CFO Peter B. Crawford sold 5,481 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $75.51, for a total value of $413,870.31. Following the completion of the sale, the chief financial officer now directly owns 60,567 shares of the company’s stock, valued at approximately $4,573,414.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, President Richard A. Wurster bought 10,000 shares of Charles Schwab stock in a transaction dated Wednesday, July 17th. The stock was acquired at an average cost of $62.05 per share, with a total value of $620,500.00. Following the completion of the acquisition, the president now directly owns 144,228 shares in the company, valued at approximately $8,949,347.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Peter B. Crawford sold 5,481 shares of Charles Schwab stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $75.51, for a total value of $413,870.31. Following the completion of the transaction, the chief financial officer now directly owns 60,567 shares in the company, valued at approximately $4,573,414.17. The disclosure for this sale can be found here. Insiders have sold a total of 466,470 shares of company stock valued at $34,963,443 over the last quarter. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Stock Performance

SCHW stock traded up $2.67 on Monday, reaching $64.75. The company’s stock had a trading volume of 16,718,915 shares, compared to its average volume of 7,876,695. The firm has a fifty day moving average of $73.30 and a two-hundred day moving average of $70.11. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.42 and a quick ratio of 0.42. The company has a market capitalization of $115.08 billion, a P/E ratio of 26.74, a price-to-earnings-growth ratio of 1.05 and a beta of 0.99. The Charles Schwab Co. has a 52 week low of $48.66 and a 52 week high of $79.49.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. The business had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.68 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.65%. The company’s revenue was up .7% on a year-over-year basis. During the same period in the previous year, the business earned $0.75 earnings per share. As a group, analysts predict that The Charles Schwab Co. will post 3.09 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, May 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.54%. Charles Schwab’s dividend payout ratio is presently 41.84%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on SCHW shares. Keefe, Bruyette & Woods raised Charles Schwab from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $76.00 to $84.00 in a research report on Monday, July 8th. StockNews.com downgraded shares of Charles Schwab from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. Citigroup raised their target price on shares of Charles Schwab from $70.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. JMP Securities reaffirmed a “market outperform” rating and set a $80.00 price target on shares of Charles Schwab in a research report on Tuesday, May 28th. Finally, Barclays cut their price target on shares of Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 17th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Charles Schwab presently has a consensus rating of “Hold” and a consensus price target of $75.07.

Charles Schwab Profile

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.