Mercer Global Advisors Inc. ADV acquired a new stake in Charles Schwab Co. (NYSE:SCHW) in the 1st quarter, HoldingsChannel reports. The fund acquired 9,034 shares of the financial services provider’s stock, valued at approximately $375,000.
Other institutional investors have also recently made changes to their positions in the company. Laurel Wealth Advisors LLC acquired a new stake in shares of Charles Schwab in the fourth quarter valued at $31,000. First Personal Financial Services lifted its holdings in shares of Charles Schwab by 51.9% in the fourth quarter. First Personal Financial Services now owns 825 shares of the financial services provider’s stock valued at $34,000 after buying an additional 282 shares during the period. Proficio Capital Partners LLC lifted its holdings in shares of Charles Schwab by 70.2% in the fourth quarter. Proficio Capital Partners LLC now owns 1,028 shares of the financial services provider’s stock valued at $43,000 after buying an additional 424 shares during the period. Clearbridge LLC lifted its holdings in shares of Charles Schwab by 75.1% in the fourth quarter. Clearbridge LLC now owns 1,096 shares of the financial services provider’s stock valued at $46,000 after buying an additional 470 shares during the period. Finally, Semmax Financial Advisors Inc. purchased a new stake in shares of Charles Schwab during the fourth quarter valued at $47,000. Institutional investors and hedge funds own 80.07% of the company’s stock.
NYSE:SCHW opened at $45.55 on Friday. The firm has a market cap of $60.61 billion, a P/E ratio of 18.59, a price-to-earnings-growth ratio of 1.46 and a beta of 1.32. Charles Schwab Co. has a 1-year low of $37.83 and a 1-year high of $60.22. The company has a current ratio of 1.08, a quick ratio of 0.83 and a debt-to-equity ratio of 0.38.
Charles Schwab declared that its Board of Directors has authorized a stock repurchase program on Wednesday, January 30th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 6.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
In related news, CEO Marie A. Chandoha sold 45,046 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $45.48, for a total transaction of $2,048,692.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Nigel J. Murtagh sold 23,200 shares of the company’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $45.70, for a total value of $1,060,240.00. Following the transaction, the executive vice president now directly owns 39,875 shares in the company, valued at $1,822,287.50. The disclosure for this sale can be found here. Insiders have sold 383,617 shares of company stock worth $17,906,122 over the last three months. 10.90% of the stock is owned by insiders.
Several equities research analysts have recently commented on the company. UBS Group downgraded Charles Schwab from a “neutral” rating to a “sell” rating and reduced their target price for the company from $48.00 to $42.00 in a report on Wednesday, February 20th. Raymond James upped their target price on Charles Schwab from $51.00 to $54.00 and gave the company an “outperform” rating in a report on Wednesday, January 16th. ValuEngine raised Charles Schwab from a “sell” rating to a “hold” rating in a report on Wednesday, January 16th. Credit Suisse Group upped their target price on Charles Schwab from $50.00 to $54.00 and gave the company an “outperform” rating in a report on Thursday, January 17th. Finally, Deutsche Bank reduced their target price on Charles Schwab from $54.00 to $53.00 and set a “buy” rating for the company in a report on Friday, March 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $53.22.
Charles Schwab 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.
Recommended Story: How to interpret a stock’s beta number
Want to see what other hedge funds are holding SCHW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Charles Schwab Co. (NYSE:SCHW).
Receive News & Ratings for Charles Schwab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Charles Schwab and related companies with MarketBeat.com's FREE daily email newsletter.