BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $43.94 Million Stake in Charles Schwab Co. (SCHW)
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Charles Schwab Co. (NYSE:SCHW) by 6.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 855,421 shares of the financial services provider’s stock after purchasing an additional 51,268 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Charles Schwab were worth $43,943,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of SCHW. Bogart Wealth LLC boosted its holdings in shares of Charles Schwab by 1,100.0% during the fourth quarter. Bogart Wealth LLC now owns 2,040 shares of the financial services provider’s stock worth $105,000 after purchasing an additional 1,870 shares during the period. Pinnacle Wealth Planning Services Inc. purchased a new stake in Charles Schwab in the fourth quarter worth about $118,000. Zions Bancorporation lifted its holdings in Charles Schwab by 1,545.3% in the third quarter. Zions Bancorporation now owns 3,817 shares of the financial services provider’s stock worth $167,000 after buying an additional 3,585 shares during the period. Acadian Asset Management LLC purchased a new stake in Charles Schwab in the fourth quarter worth about $187,000. Finally, Lourd Capital LLC purchased a new stake in Charles Schwab in the fourth quarter worth about $208,000. Institutional investors own 80.54% of the company’s stock.
Several brokerages have commented on SCHW. Zacks Investment Research lowered shares of Charles Schwab from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Wells Fargo restated a “market perform” rating and issued a $55.00 price objective (up from $47.00) on shares of Charles Schwab in a report on Thursday, January 4th. JMP Securities lowered shares of Charles Schwab from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 3rd. SunTrust Banks restated a “buy” rating on shares of Charles Schwab in a report on Wednesday, February 14th. Finally, Nomura restated a “neutral” rating and issued a $54.00 price objective (up from $50.00) on shares of Charles Schwab in a report on Thursday, January 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $54.64.
Charles Schwab (NYSE:SCHW) last released its earnings results on Wednesday, January 17th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.03. Charles Schwab had a net margin of 27.32% and a return on equity of 16.03%. The firm had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period last year, the business earned $0.36 earnings per share. The business’s revenue was up 13.7% on a year-over-year basis. sell-side analysts predict that Charles Schwab Co. will post 2.4 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.72%. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Thursday, February 8th. Charles Schwab’s dividend payout ratio (DPR) is presently 24.84%.
In other news, Chairman Charles R. Schwab sold 300,000 shares of Charles Schwab stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $55.31, for a total transaction of $16,593,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jonathan M. Craig sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $58.01, for a total transaction of $290,050.00. The disclosure for this sale can be found here. Insiders have sold 922,251 shares of company stock valued at $50,343,908 over the last quarter. Company insiders own 12.00% 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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