Thrivent Financial for Lutherans reduced its position in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 21.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,910,382 shares of the financial services provider's stock after selling 509,504 shares during the quarter. Thrivent Financial for Lutherans owned 0.11% of Charles Schwab worth $141,568,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of SCHW. State Street Corp lifted its stake in shares of Charles Schwab by 0.7% in the 3rd quarter. State Street Corp now owns 62,076,447 shares of the financial services provider's stock valued at $4,023,175,000 after acquiring an additional 414,949 shares during the last quarter. Geode Capital Management LLC raised its position in Charles Schwab by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 30,141,441 shares of the financial services provider's stock valued at $1,945,614,000 after purchasing an additional 445,304 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Charles Schwab by 6.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider's stock valued at $1,858,706,000 after purchasing an additional 1,711,312 shares during the last quarter. Franklin Resources Inc. raised its position in Charles Schwab by 15.0% during the 3rd quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider's stock valued at $1,644,674,000 after purchasing an additional 3,157,923 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in Charles Schwab by 1.3% during the 4th quarter. Fisher Asset Management LLC now owns 20,455,266 shares of the financial services provider's stock valued at $1,513,894,000 after purchasing an additional 265,708 shares during the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research firms have commented on SCHW. JPMorgan Chase & Co. upped their price target on Charles Schwab from $87.00 to $93.00 and gave the company an "overweight" rating in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods upped their price target on Charles Schwab from $81.00 to $93.00 and gave the company an "outperform" rating in a research report on Friday, December 20th. TD Cowen raised Charles Schwab from a "hold" rating to a "buy" rating and upped their price target for the company from $88.00 to $103.00 in a research report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft upped their price target on Charles Schwab from $98.00 to $105.00 and gave the company a "buy" rating in a research report on Wednesday, January 22nd. Finally, Citigroup upped their target price on Charles Schwab from $80.00 to $85.00 and gave the stock a "neutral" rating in a report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $86.33.
Check Out Our Latest Research Report on SCHW
Charles Schwab Stock Performance
Shares of NYSE SCHW traded down $0.11 during midday trading on Friday, hitting $78.47. 11,842,111 shares of the stock traded hands, compared to its average volume of 8,443,802. The Charles Schwab Co. has a one year low of $61.01 and a one year high of $84.50. The firm has a 50-day moving average of $78.99 and a two-hundred day moving average of $74.72. The firm has a market capitalization of $142.30 billion, a P/E ratio of 26.24, a PEG ratio of 0.99 and a beta of 0.98. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47.
Charles Schwab (NYSE:SCHW - Get Free Report) last announced its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, topping analysts' consensus estimates of $0.90 by $0.11. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The company had revenue of $5.33 billion for the quarter, compared to analysts' expectations of $5.19 billion. During the same period last year, the firm earned $0.68 EPS. Charles Schwab's revenue for the quarter was up 19.5% compared to the same quarter last year. On average, equities analysts forecast that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.
Charles Schwab Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from Charles Schwab's previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a yield of 1.38%. Charles Schwab's dividend payout ratio (DPR) is currently 36.12%.
Insider Buying and Selling at Charles Schwab
In other Charles Schwab news, 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 transaction of $38,057,761.39. Following the sale, the chairman now directly owns 827,377 shares of the company's stock, valued at $67,770,450.07. This trade represents a 35.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arun Sarin sold 8,548 shares of the firm's stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total value of $699,397.36. Following the sale, the director now directly owns 18,617 shares in the company, valued at approximately $1,523,242.94. This represents a 31.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 501,087 shares of company stock valued at $40,952,233 over the last ninety days. 6.60% of the stock is currently owned by company insiders.
Charles Schwab Profile
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Free Report)
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.
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