Dupont Capital Management Corp decreased its position in shares of Charles Schwab Co. (NYSE:SCHW) by 16.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,656 shares of the financial services provider’s stock after selling 3,632 shares during the period. Dupont Capital Management Corp’s holdings in Charles Schwab were worth $775,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in SCHW. Vanguard Group Inc raised its position in Charles Schwab by 0.9% in the third quarter. Vanguard Group Inc now owns 88,586,138 shares of the financial services provider’s stock worth $4,354,008,000 after acquiring an additional 820,257 shares during the period. BlackRock Inc. raised its position in shares of Charles Schwab by 2.6% in the third quarter. BlackRock Inc. now owns 86,976,839 shares of the financial services provider’s stock valued at $4,274,909,000 after purchasing an additional 2,179,682 shares during the period. FMR LLC increased its holdings in Charles Schwab by 13.7% during the 2nd quarter. FMR LLC now owns 65,193,384 shares of the financial services provider’s stock worth $3,331,382,000 after acquiring an additional 7,868,551 shares during the period. Edgewood Management LLC increased its holdings in Charles Schwab by 1.6% during the 3rd quarter. Edgewood Management LLC now owns 21,966,947 shares of the financial services provider’s stock worth $1,079,675,000 after acquiring an additional 349,106 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Charles Schwab by 0.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 12,675,853 shares of the financial services provider’s stock worth $623,016,000 after acquiring an additional 108,436 shares during the period. Institutional investors own 79.78% of the company’s stock.
In related news, Chairman Charles R. Schwab sold 250,000 shares of the stock in a transaction on Friday, February 1st. The stock was sold at an average price of $47.04, for a total value of $11,760,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Walter W. Bettinger bought 124,669 shares of the business’s stock in a transaction on Wednesday, December 26th. The stock was bought at an average cost of $38.81 per share, with a total value of $4,838,403.89. Following the completion of the purchase, the insider now directly owns 335,093 shares in the company, valued at $13,004,959.33. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 258,652 shares of company stock worth $12,149,386. Insiders own 11.50% of the company’s stock.
SCHW has been the subject of a number of research reports. Deutsche Bank raised shares of Charles Schwab from a “hold” rating to a “buy” rating and boosted their price target for the stock from $52.00 to $54.00 in a research note on Tuesday, October 30th. Morgan Stanley lowered their price target on shares of Charles Schwab from $66.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, November 14th. Goldman Sachs Group began coverage on shares of Charles Schwab in a report on Friday, November 30th. They issued a “buy” rating and a $55.00 price objective for the company. Zacks Investment Research upgraded shares of Charles Schwab from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Thursday, January 3rd. Finally, ValuEngine upgraded shares of Charles Schwab from a “sell” rating to a “hold” rating in a research note on Wednesday, January 16th. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Charles Schwab has an average rating of “Buy” and a consensus price target of $54.31.
SCHW stock opened at $45.98 on Thursday. The stock has a market capitalization of $60.45 billion, a P/E ratio of 18.77, a PEG ratio of 1.03 and a beta of 1.37. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.32. Charles Schwab Co. has a 1-year low of $37.83 and a 1-year high of $60.22.
Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Wednesday, January 16th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.01. The firm had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.64 billion. Charles Schwab had a net margin of 34.61% and a return on equity of 20.28%. The company’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.44 earnings per share. On average, sell-side analysts anticipate that Charles Schwab Co. will post 2.81 EPS for the current fiscal year.
Charles Schwab declared that its Board of Directors has approved a share repurchase plan on Thursday, October 25th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 1.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 28th. Shareholders of record on Thursday, February 14th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend is Wednesday, February 13th. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.13. Charles Schwab’s dividend payout ratio is currently 21.22%.
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Charles Schwab Company Profile
The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.
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