Charles Schwab Co. (SCHW) Holdings Cut by QS Investors LLC
QS Investors LLC lessened its holdings in Charles Schwab Co. (NYSE:SCHW) by 6.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,464 shares of the financial services provider’s stock after selling 1,494 shares during the period. QS Investors LLC’s holdings in Charles Schwab were worth $1,154,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Baker Avenue Asset Management LP grew its holdings in shares of Charles Schwab by 0.4% during the fourth quarter. Baker Avenue Asset Management LP now owns 291,144 shares of the financial services provider’s stock worth $14,956,000 after purchasing an additional 1,137 shares during the last quarter. Jafra Capital Management LP grew its holdings in shares of Charles Schwab by 333.3% during the fourth quarter. Jafra Capital Management LP now owns 108,320 shares of the financial services provider’s stock worth $5,564,000 after purchasing an additional 83,320 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Charles Schwab by 2.7% during the fourth quarter. Franklin Resources Inc. now owns 9,683,995 shares of the financial services provider’s stock worth $497,500,000 after purchasing an additional 254,720 shares during the last quarter. Clearbridge Investments LLC grew its holdings in shares of Charles Schwab by 6.1% during the fourth quarter. Clearbridge Investments LLC now owns 8,996,864 shares of the financial services provider’s stock worth $462,169,000 after purchasing an additional 513,627 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC bought a new stake in shares of Charles Schwab during the fourth quarter worth about $2,635,000. Hedge funds and other institutional investors own 80.54% of the company’s stock.
In related news, EVP Terri R. Kallsen sold 2,026 shares of Charles Schwab stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $51.30, for a total value of $103,933.80. Following the transaction, the executive vice president now directly owns 1,706 shares of the company’s stock, valued at $87,517.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Jonathan M. Craig sold 5,000 shares of Charles Schwab stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $58.01, for a total value of $290,050.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 922,251 shares of company stock worth $50,343,908. 12.00% of the stock is owned by insiders.
Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.44 EPS for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.03. The company had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.24 billion. Charles Schwab had a return on equity of 16.03% and a net margin of 27.32%. The firm’s quarterly revenue was up 13.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.36 earnings per share. analysts predict that Charles Schwab Co. will post 2.4 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were paid a $0.10 dividend. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date was Thursday, February 8th. Charles Schwab’s payout ratio is currently 24.84%.
Several research firms have recently weighed in on SCHW. Zacks Investment Research cut Charles Schwab from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. SunTrust Banks restated a “buy” rating on shares of Charles Schwab in a report on Wednesday, February 14th. Credit Suisse Group reduced their price target on Charles Schwab from $70.00 to $69.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. Citigroup cut Charles Schwab from a “neutral” rating to a “sell” rating and set a $49.00 price target on the stock. in a report on Wednesday, February 7th. Finally, Morgan Stanley boosted their price target on Charles Schwab from $61.00 to $63.00 and gave the stock an “overweight” rating in a report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $54.64.
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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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