Fiduciary Group LLC decreased its position in Charles Schwab Co. (NYSE:SCHW) by 2.7% in the 1st quarter, HoldingsChannel reports. The fund owned 35,040 shares of the financial services provider’s stock after selling 982 shares during the period. Fiduciary Group LLC’s holdings in Charles Schwab were worth $1,498,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the business. Laurel Wealth Advisors LLC purchased a new position in shares of Charles Schwab during the 4th quarter valued at approximately $31,000. Quantamental Technologies LLC purchased a new position in shares of Charles Schwab during the 1st quarter valued at approximately $32,000. First Personal Financial Services boosted its stake in shares of Charles Schwab by 51.9% during the 4th 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 last quarter. Proficio Capital Partners LLC boosted its stake in shares of Charles Schwab by 70.2% during the 4th 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 last quarter. Finally, Clearbridge LLC boosted its stake in shares of Charles Schwab by 75.1% during the 4th 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 last quarter. 79.73% of the stock is owned by institutional investors.
A number of research analysts recently issued reports on the company. UBS Group lowered Charles Schwab from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $48.00 to $42.00 in a report on Wednesday, February 20th. Bank of America set a $50.00 target price on Charles Schwab and gave the stock a “buy” rating in a report on Tuesday, April 9th. ValuEngine lowered Charles Schwab from a “hold” rating to a “sell” rating in a report on Friday, February 22nd. Deutsche Bank lowered their target price on Charles Schwab from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Friday, March 15th. Finally, Zacks Investment Research lowered Charles Schwab from a “buy” rating to a “hold” rating in a report on Friday, February 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company. Charles Schwab has an average rating of “Buy” and an average price target of $53.22.
Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Monday, April 15th. The financial services provider reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.03. The firm had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Charles Schwab had a return on equity of 20.47% and a net margin of 35.27%. Charles Schwab’s revenue was up 13.6% on a year-over-year basis. During the same quarter last year, the business posted $0.55 EPS. As a group, equities analysts forecast that Charles Schwab Co. will post 2.77 EPS for the current year.
The firm 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 dividend on an annualized basis and a yield of 1.56%. Charles Schwab’s payout ratio is presently 27.76%.
Charles Schwab announced that its Board of Directors has initiated a stock buyback plan on Wednesday, January 30th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 6.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
In other news, EVP Terri R. Kallsen sold 41,285 shares of Charles Schwab stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $46.75, for a total transaction of $1,930,073.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Charles A. Ruffel purchased 2,500 shares of Charles Schwab stock in a transaction dated Friday, May 3rd. The shares were purchased at an average price of $46.10 per share, with a total value of $115,250.00. Following the completion of the acquisition, the director now owns 788 shares in the company, valued at $36,326.80. The disclosure for this purchase can be found here. Insiders have sold a total of 944,253 shares of company stock valued at $43,146,209 over the last 90 days. Corporate insiders own 10.90% of the company’s stock.
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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.
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