Gillespie Robinson & Grimm Inc. Sells 26,375 Shares of Charles Schwab Corp (SCHW)
Gillespie Robinson & Grimm Inc. cut its stake in shares of Charles Schwab Corp (NYSE:SCHW) by 4.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 603,435 shares of the financial services provider’s stock after selling 26,375 shares during the quarter. Charles Schwab makes up approximately 3.9% of Gillespie Robinson & Grimm Inc.’s portfolio, making the stock its 6th biggest position. Gillespie Robinson & Grimm Inc.’s holdings in Charles Schwab were worth $30,998,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in SCHW. Beach Investment Management LLC. acquired a new position in Charles Schwab in the second quarter valued at approximately $250,000. Oppenheimer & Co. Inc. boosted its holdings in Charles Schwab by 3.2% in the second quarter. Oppenheimer & Co. Inc. now owns 7,370 shares of the financial services provider’s stock valued at $316,000 after purchasing an additional 226 shares in the last quarter. Fiduciary Trust Co. acquired a new position in Charles Schwab in the second quarter valued at approximately $163,000. Schroder Investment Management Group boosted its holdings in Charles Schwab by 24.4% in the second quarter. Schroder Investment Management Group now owns 116,321 shares of the financial services provider’s stock valued at $5,003,000 after purchasing an additional 22,824 shares in the last quarter. Finally, Commonwealth Bank of Australia boosted its holdings in Charles Schwab by 7.5% in the second quarter. Commonwealth Bank of Australia now owns 14,458 shares of the financial services provider’s stock valued at $619,000 after purchasing an additional 1,014 shares in the last quarter. 79.54% of the stock is owned by institutional investors and hedge funds.
In other news, insider Marie A. Chandoha sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $45.59, for a total transaction of $319,130.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Terri R. Kallsen sold 815 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $43.97, for a total value of $35,835.55. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,658,531 shares of company stock valued at $77,397,901. 12.00% of the stock is owned by company insiders.
Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.01. Charles Schwab had a return on equity of 15.77% and a net margin of 27.30%. The company had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter in the previous year, the business earned $0.35 earnings per share. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. equities analysts predict that Charles Schwab Corp will post 1.61 EPS for the current year.
A number of brokerages recently issued reports on SCHW. Credit Suisse Group began coverage on Charles Schwab in a report on Thursday, November 30th. They issued an “outperform” rating and a $55.00 price target for the company. Wells Fargo & Co reaffirmed a “market perform” rating and issued a $55.00 price target (up from $47.00) on shares of Charles Schwab in a report on Thursday, January 4th. Zacks Investment Research raised Charles Schwab from a “hold” rating to a “strong-buy” rating and set a $60.00 price target for the company in a report on Friday, January 5th. Barclays upped their price target on Charles Schwab from $48.00 to $51.00 and gave the company an “overweight” rating in a report on Tuesday, October 10th. Finally, SunTrust Banks upped their price target on Charles Schwab to $56.00 and gave the company an “average” rating in a report on Friday, December 15th. They noted that the move was a valuation call. Six research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $51.25.
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Charles Schwab Company Profile
The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.
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