National Pension Service boosted its stake in shares of Charles Schwab Co. (NYSE:SCHW) by 5.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,201,353 shares of the financial services provider’s stock after purchasing an additional 66,583 shares during the period. National Pension Service owned approximately 0.09% of Charles Schwab worth $54,409,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc lifted its stake in Charles Schwab by 0.9% in the 3rd quarter. Vanguard Group Inc now owns 88,586,138 shares of the financial services provider’s stock worth $4,354,008,000 after purchasing an additional 820,257 shares in the last quarter. Edgewood Management LLC lifted its stake in Charles Schwab by 1.6% in 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 purchasing an additional 349,106 shares in the last quarter. Northern Trust Corp lifted its stake in Charles Schwab by 2.1% in the 4th quarter. Northern Trust Corp now owns 16,655,792 shares of the financial services provider’s stock worth $691,715,000 after purchasing an additional 336,557 shares in the last quarter. Parnassus Investments CA raised its position in shares of Charles Schwab by 22.3% during the 4th quarter. Parnassus Investments CA now owns 15,623,778 shares of the financial services provider’s stock valued at $648,856,000 after buying an additional 2,850,678 shares during the period. Finally, Harris Associates L P raised its position in shares of Charles Schwab by 197.1% during the 4th quarter. Harris Associates L P now owns 13,940,097 shares of the financial services provider’s stock valued at $578,932,000 after buying an additional 9,248,471 shares during the period. 80.06% of the stock is currently owned by institutional investors.
SCHW traded down $0.32 on Monday, reaching $45.03. The company had a trading volume of 7,443,640 shares, compared to its average volume of 6,736,862. Charles Schwab Co. has a 1 year low of $37.83 and a 1 year high of $60.22. The stock has a market cap of $60.51 billion, a PE ratio of 18.38, a price-to-earnings-growth ratio of 1.42 and a beta of 1.32. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.08 and a quick ratio of 0.83.
Charles Schwab declared that its Board of Directors has authorized a stock repurchase program on Wednesday, January 30th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 6.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
In other news, EVP Jonathan M. Craig sold 3,739 shares of the business’s stock in a transaction dated Tuesday, January 15th. The shares were sold at an average price of $43.58, for a total transaction of $162,945.62. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Jonathan M. Craig sold 3,740 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $46.52, for a total transaction of $173,984.80. The disclosure for this sale can be found here. Insiders sold 360,156 shares of company stock valued at $16,826,468 over the last ninety days. Corporate insiders own 10.90% of the company’s stock.
Several analysts recently weighed in on SCHW shares. Zacks Investment Research downgraded shares of Charles Schwab from a “hold” rating to a “sell” rating in a report on Monday, January 14th. UBS Group downgraded shares of Charles Schwab from a “neutral” rating to a “sell” rating and dropped their target price for the company from $48.00 to $42.00 in a report on Wednesday, February 20th. ValuEngine downgraded shares of Charles Schwab from a “hold” rating to a “sell” rating in a report on Friday, February 22nd. Wolfe Research upgraded shares of Charles Schwab from an “underperform” rating to a “market perform” rating in a research note on Tuesday, January 8th. Finally, Morgan Stanley dropped their price target on shares of Charles Schwab from $60.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday, January 4th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $53.22.
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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