The Charles Schwab Co. (NYSE:SCHW) Position Boosted by Mach 1 Financial Group LLC

Mach 1 Financial Group LLC lifted its position in The Charles Schwab Co. (NYSE:SCHW) by 17.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 33,358 shares of the financial services provider’s stock after buying an additional 4,972 shares during the quarter. Charles Schwab comprises 0.9% of Mach 1 Financial Group LLC’s investment portfolio, making the stock its 27th largest holding. Mach 1 Financial Group LLC’s holdings in Charles Schwab were worth $2,295,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Massachusetts Financial Services Co. MA grew its stake in shares of Charles Schwab by 26.3% in the 3rd 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 buying an additional 6,195,934 shares in the last quarter. Invesco Ltd. boosted its position in Charles Schwab by 3.3% during the third quarter. Invesco Ltd. now owns 15,560,924 shares of the financial services provider’s stock worth $854,295,000 after purchasing an additional 502,304 shares during the period. Northern Trust Corp boosted its position in Charles Schwab by 2.3% during the third quarter. Northern Trust Corp now owns 15,550,474 shares of the financial services provider’s stock worth $853,721,000 after purchasing an additional 356,112 shares during the period. Bamco Inc. NY boosted its position in Charles Schwab by 0.5% during the third quarter. Bamco Inc. NY now owns 8,102,475 shares of the financial services provider’s stock worth $444,826,000 after purchasing an additional 42,588 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Charles Schwab by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 7,317,044 shares of the financial services provider’s stock worth $401,706,000 after purchasing an additional 101,920 shares during the period. Institutional investors own 84.38% of the company’s stock.

Insiders Place Their Bets

In other Charles Schwab news, insider Nigel J. Murtagh sold 29,991 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $67.80, for a total transaction of $2,033,389.80. Following the completion of the transaction, the insider now directly owns 81,446 shares in the company, valued at $5,522,038.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Peter B. Crawford sold 8,000 shares of Charles Schwab stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $64.76, for a total value of $518,080.00. Following the completion of the sale, the chief financial officer now directly owns 29,611 shares in the company, valued at $1,917,608.36. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Nigel J. Murtagh sold 29,991 shares of Charles Schwab stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $67.80, for a total value of $2,033,389.80. Following the completion of the sale, the insider now owns 81,446 shares of the company’s stock, valued at $5,522,038.80. The disclosure for this sale can be found here. Insiders sold 394,648 shares of company stock worth $27,400,905 over the last three months. 6.60% of the stock is currently owned by corporate insiders.

Charles Schwab Price Performance

Charles Schwab stock traded down $0.62 during mid-day trading on Tuesday, hitting $73.94. 6,725,134 shares of the company were exchanged, compared to its average volume of 7,696,079. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.82. The business has a fifty day moving average of $70.09 and a 200 day moving average of $64.33. The Charles Schwab Co. has a 1-year low of $45.65 and a 1-year high of $75.55. The company has a market capitalization of $131.32 billion, a PE ratio of 30.94, a price-to-earnings-growth ratio of 1.10 and a beta of 1.01.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, May 9th. This represents a $1.00 annualized dividend and a yield of 1.35%. Charles Schwab’s dividend payout ratio is currently 41.84%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SCHW shares. Deutsche Bank Aktiengesellschaft upped their target price on Charles Schwab from $75.00 to $77.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Barclays increased their price objective on Charles Schwab from $74.00 to $75.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 16th. The Goldman Sachs Group reissued a “neutral” rating and issued a $71.00 price objective (up from $70.00) on shares of Charles Schwab in a research report on Wednesday, January 3rd. JPMorgan Chase & Co. increased their price objective on Charles Schwab from $86.00 to $89.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Finally, Raymond James reduced their price objective on Charles Schwab from $78.00 to $75.00 and set an “outperform” rating for the company in a research report on Thursday, January 18th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Charles Schwab has an average rating of “Hold” and an average target price of $74.47.

About Charles Schwab

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.