Kovitz Investment Group Partners LLC Has $814.55 Million Position in The Charles Schwab Co. (NYSE:SCHW)

Kovitz Investment Group Partners LLC grew its stake in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 354.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,005,881 shares of the financial services provider's stock after buying an additional 8,584,173 shares during the quarter. Charles Schwab accounts for about 2.7% of Kovitz Investment Group Partners LLC's portfolio, making the stock its 5th largest holding. Kovitz Investment Group Partners LLC owned about 0.62% of Charles Schwab worth $814,545,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in SCHW. Murphy & Mullick Capital Management Corp acquired a new position in shares of Charles Schwab during the 4th quarter worth about $38,000. Atala Financial Inc purchased a new position in Charles Schwab during the fourth quarter worth about $41,000. Knuff & Co LLC lifted its stake in Charles Schwab by 1,309.3% during the fourth quarter. Knuff & Co LLC now owns 606 shares of the financial services provider's stock worth $45,000 after purchasing an additional 563 shares in the last quarter. Financial Life Planners purchased a new stake in Charles Schwab during the fourth quarter worth about $46,000. Finally, Whipplewood Advisors LLC purchased a new stake in shares of Charles Schwab during the fourth quarter worth $46,000. Institutional investors and hedge funds own 84.38% of the company's stock.

Charles Schwab Stock Performance

NYSE SCHW traded up $0.58 on Friday, hitting $79.96. The stock had a trading volume of 7,781,018 shares, compared to its average volume of 9,350,341. The company's 50-day moving average is $76.82 and its two-hundred day moving average is $77.10. The stock has a market cap of $145.01 billion, a price-to-earnings ratio of 26.74, a P/E/G ratio of 0.99 and a beta of 0.91. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The Charles Schwab Co. has a one year low of $61.01 and a one year high of $84.50.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.01 by $0.03. The firm had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.46 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. During the same period in the previous year, the company earned $0.74 earnings per share. On average, analysts expect that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 9th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend is Friday, May 9th. Charles Schwab's dividend payout ratio is presently 32.73%.

Insider Buying and Selling

In related news, Director Frank C. Herringer sold 3,592 shares of the company's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $74.26, for a total value of $266,741.92. Following the completion of the sale, the director now owns 172,162 shares in the company, valued at approximately $12,784,750.12. This represents a 2.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Walter W. Bettinger sold 464,629 shares of the firm's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total value of $38,057,761.39. Following the sale, the chairman now owns 827,377 shares of the company's stock, valued at $67,770,450.07. The trade was a 35.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 493,482 shares of company stock worth $40,288,720 in the last three months. 6.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

SCHW has been the topic of several recent research reports. JMP Securities restated a "market outperform" rating and set a $94.00 price target on shares of Charles Schwab in a report on Monday, April 21st. UBS Group increased their target price on Charles Schwab from $95.00 to $96.00 and gave the company a "buy" rating in a report on Tuesday, April 22nd. Deutsche Bank Aktiengesellschaft increased their price objective on Charles Schwab from $98.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. Redburn Partners decreased their price target on shares of Charles Schwab from $70.00 to $68.00 and set a "sell" rating for the company in a research note on Friday, January 17th. Finally, Keefe, Bruyette & Woods upped their price target on Charles Schwab from $90.00 to $93.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $87.22.

Charles Schwab Company 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.