Tower Research Capital LLC TRC grew its position in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 190.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,243 shares of the financial services provider's stock after purchasing an additional 69,720 shares during the period. Tower Research Capital LLC TRC's holdings in Charles Schwab were worth $7,863,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of SCHW. Principal Financial Group Inc. raised its holdings in shares of Charles Schwab by 0.6% during the 3rd quarter. Principal Financial Group Inc. now owns 6,673,901 shares of the financial services provider's stock valued at $432,536,000 after buying an additional 38,201 shares during the period. Anchor Investment Management LLC lifted its position in shares of Charles Schwab by 11.2% during the third quarter. Anchor Investment Management LLC now owns 36,229 shares of the financial services provider's stock worth $2,348,000 after purchasing an additional 3,637 shares in the last quarter. Sculati Wealth Management LLC grew its holdings in Charles Schwab by 0.7% during the 3rd quarter. Sculati Wealth Management LLC now owns 42,988 shares of the financial services provider's stock valued at $2,786,000 after purchasing an additional 315 shares in the last quarter. World Investment Advisors LLC acquired a new stake in shares of Charles Schwab during the third quarter valued at about $9,211,000. Finally, Sfmg LLC boosted its holdings in Charles Schwab by 2.5% in the third quarter. Sfmg LLC now owns 58,542 shares of the financial services provider's stock valued at $3,794,000 after purchasing an additional 1,444 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company's stock.
Insider Buying and Selling
In related news, Director Frank C. Herringer sold 3,592 shares of Charles Schwab stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $74.26, for a total transaction of $266,741.92. Following the transaction, the director now directly owns 172,162 shares of the company's stock, valued at $12,784,750.12. The trade was a 2.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the transaction, the chairman now owns 827,377 shares of the company's stock, valued at approximately $67,770,450.07. This trade represents a 35.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 493,482 shares of company stock valued at $40,288,720 over the last quarter. Corporate insiders own 6.30% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Charles Schwab from $92.00 to $95.00 and gave the stock an "overweight" rating in a research note on Monday. Morgan Stanley raised shares of Charles Schwab from an "equal weight" rating to an "overweight" rating and set a $76.00 price target on the stock in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods boosted their price objective on Charles Schwab from $90.00 to $93.00 and gave the company an "outperform" rating in a report on Tuesday. Wells Fargo & Company reduced their target price on Charles Schwab from $93.00 to $87.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Barclays decreased their target price on Charles Schwab from $96.00 to $84.00 and set an "overweight" rating for the company in a research report on Monday, April 7th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $85.78.
View Our Latest Analysis on SCHW
Charles Schwab Stock Performance
Shares of NYSE:SCHW traded up $1.51 during trading hours on Thursday, hitting $79.36. The stock had a trading volume of 8,422,937 shares, compared to its average volume of 9,316,440. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The stock's fifty day simple moving average is $76.87 and its 200 day simple moving average is $76.75. The firm has a market capitalization of $143.92 billion, a price-to-earnings ratio of 26.54, a PEG ratio of 0.99 and a beta of 0.91. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $84.50.
Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly 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 company had revenue of $5.60 billion during 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 quarter in the previous year, the firm posted $0.74 EPS. Sell-side analysts anticipate that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.
Charles Schwab Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 9th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.36%. Charles Schwab's dividend payout ratio is presently 32.73%.
Charles Schwab Profile
(
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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