Picton Mahoney Asset Management Buys New Holdings in The Charles Schwab Co. (NYSE:SCHW)

Picton Mahoney Asset Management bought a new position in shares of The Charles Schwab Co. (NYSE:SCHW) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 220,226 shares of the financial services provider’s stock, valued at approximately $15,150,000.

Several other large investors have also modified their holdings of the stock. Massachusetts Financial Services Co. MA increased its stake in Charles Schwab by 26.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 29,775,952 shares of the financial services provider’s stock valued at $1,634,700,000 after purchasing an additional 6,195,934 shares during the period. Ameriprise Financial Inc. raised its stake in Charles Schwab by 186.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 7,107,176 shares of the financial services provider’s stock valued at $390,234,000 after acquiring an additional 4,624,302 shares during the last quarter. Van ECK Associates Corp lifted its position in Charles Schwab by 134.3% during the 3rd quarter. Van ECK Associates Corp now owns 5,300,286 shares of the financial services provider’s stock worth $290,986,000 after acquiring an additional 3,038,517 shares during the period. Lazard Asset Management LLC grew its stake in shares of Charles Schwab by 31.1% in the 3rd quarter. Lazard Asset Management LLC now owns 7,247,335 shares of the financial services provider’s stock valued at $397,877,000 after purchasing an additional 1,717,137 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its stake in shares of Charles Schwab by 3,123.9% during the third quarter. Los Angeles Capital Management LLC now owns 1,360,400 shares of the financial services provider’s stock worth $74,686,000 after purchasing an additional 1,318,203 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Price Performance

Charles Schwab stock traded down $1.32 during trading hours on Tuesday, hitting $75.54. The stock had a trading volume of 7,336,819 shares, compared to its average volume of 7,602,173. The stock has a market capitalization of $134.16 billion, a price-to-earnings ratio of 31.61, a PEG ratio of 1.11 and a beta of 0.98. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.43 and a quick ratio of 0.43. The Charles Schwab Co. has a 1-year low of $46.55 and a 1-year high of $77.05. The stock’s fifty day moving average is $71.20 and its two-hundred day moving average is $65.15.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Thursday, May 9th. Charles Schwab’s payout ratio is currently 41.84%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on SCHW shares. Keefe, Bruyette & Woods lifted their price objective on shares of Charles Schwab from $75.00 to $76.00 and gave the company a “market perform” rating in a research report on Tuesday, April 16th. Citigroup lifted their target price on shares of Charles Schwab from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Morgan Stanley raised their price objective on shares of Charles Schwab from $65.00 to $71.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. StockNews.com upgraded Charles Schwab from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Charles Schwab from $75.00 to $77.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $74.47.

Insider Buying and Selling at Charles Schwab

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $65.29, for a total transaction of $587,610.00. Following the completion of the transaction, the director now directly owns 585,057 shares in the company, valued at approximately $38,198,371.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Chairman Charles R. Schwab sold 71,226 shares of Charles Schwab stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $64.99, for a total transaction of $4,628,977.74. Following the completion of the sale, the chairman now directly owns 61,251,038 shares in the company, valued at $3,980,704,959.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $65.29, for a total transaction of $587,610.00. Following the transaction, the director now directly owns 585,057 shares in the company, valued at approximately $38,198,371.53. The disclosure for this sale can be found here. Insiders have sold 514,459 shares of company stock valued at $36,371,155 over the last quarter. Corporate insiders own 6.60% of the company’s stock.

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.