Semmax Financial Advisors Inc. raised its position in Charles Schwab Co. (NYSE:SCHW) by 70.9% during the 1st quarter, HoldingsChannel.com reports. The firm owned 1,919 shares of the financial services provider’s stock after purchasing an additional 796 shares during the period. Semmax Financial Advisors Inc.’s holdings in Charles Schwab were worth $82,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Laurel Wealth Advisors LLC bought a new position in Charles Schwab during the fourth quarter worth about $31,000. Quantamental Technologies LLC bought a new stake in shares of Charles Schwab during the first quarter worth approximately $32,000. First Personal Financial Services boosted its holdings in shares of Charles Schwab by 51.9% during the fourth quarter. First Personal Financial Services now owns 825 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 282 shares during the period. Proficio Capital Partners LLC boosted its holdings in shares of Charles Schwab by 70.2% during the fourth quarter. Proficio Capital Partners LLC now owns 1,028 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 424 shares during the period. Finally, Clearbridge LLC boosted its holdings in shares of Charles Schwab by 75.1% during the fourth quarter. Clearbridge LLC now owns 1,096 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 470 shares during the period. 79.73% of the stock is currently owned by hedge funds and other institutional investors.
SCHW traded up $0.70 during trading on Tuesday, hitting $44.25. 99,706 shares of the stock traded hands, compared to its average volume of 6,621,300. Charles Schwab Co. has a twelve month low of $37.83 and a twelve month high of $60.22. The company has a market cap of $57.69 billion, a P/E ratio of 18.03, a P/E/G ratio of 1.98 and a beta of 1.33. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.33 and a quick ratio of 0.33.
Charles Schwab announced that its Board of Directors has authorized a stock repurchase program on Wednesday, January 30th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 6.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Wednesday, May 15th will be given a dividend of $0.17 per share. The ex-dividend date is Tuesday, May 14th. This represents a $0.68 annualized dividend and a yield of 1.54%. Charles Schwab’s dividend payout ratio is currently 27.76%.
In other news, CEO Marie A. Chandoha sold 45,046 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $45.48, for a total transaction of $2,048,692.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen T. Mclin sold 4,356 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $43.85, for a total transaction of $191,010.60. Following the transaction, the director now owns 7,592 shares of the company’s stock, valued at $332,909.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 944,253 shares of company stock valued at $43,146,209. Company insiders own 10.90% of the company’s stock.
A number of equities research analysts have recently issued reports on the company. Bank of America set a $50.00 price objective on Charles Schwab and gave the stock a “buy” rating in a report on Tuesday, April 9th. Zacks Investment Research upgraded shares of Charles Schwab from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research report on Wednesday, March 13th. ValuEngine upgraded shares of Charles Schwab from a “sell” rating to a “hold” rating in a research report on Tuesday, April 16th. Wells Fargo & Co dropped their price target on shares of Charles Schwab from $48.00 to $47.00 and set a “market perform” rating for the company in a research report on Friday, April 5th. Finally, Deutsche Bank dropped their price target on shares of Charles Schwab from $54.00 to $53.00 and set a “buy” rating for the company in a research report on Friday, March 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $53.22.
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About Charles Schwab
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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