Charles Schwab Co. (NYSE:SCHW) Shares Sold by Fmr LLC

Fmr LLC lessened its holdings in Charles Schwab Co. (NYSE:SCHW) by 22.2% during the first quarter, Holdings Channel reports. The institutional investor owned 41,815,826 shares of the financial services provider’s stock after selling 11,917,193 shares during the quarter. Fmr LLC’s holdings in Charles Schwab were worth $1,788,045,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in SCHW. Norges Bank purchased a new position in Charles Schwab in the fourth quarter valued at approximately $443,292,000. Harris Associates L P lifted its stake in Charles Schwab by 197.1% in the fourth quarter. Harris Associates L P now owns 13,940,097 shares of the financial services provider’s stock valued at $578,932,000 after purchasing an additional 9,248,471 shares during the last quarter. APG Asset Management N.V. lifted its stake in Charles Schwab by 1,183.6% in the fourth quarter. APG Asset Management N.V. now owns 3,287,200 shares of the financial services provider’s stock valued at $119,422,000 after purchasing an additional 3,031,100 shares during the last quarter. Clearbridge Investments LLC lifted its stake in Charles Schwab by 24.0% in the first quarter. Clearbridge Investments LLC now owns 14,863,818 shares of the financial services provider’s stock valued at $635,577,000 after purchasing an additional 2,880,846 shares during the last quarter. Finally, Findlay Park Partners LLP lifted its stake in Charles Schwab by 98.8% in the fourth quarter. Findlay Park Partners LLP now owns 5,584,782 shares of the financial services provider’s stock valued at $231,936,000 after purchasing an additional 2,775,694 shares during the last quarter. Hedge funds and other institutional investors own 78.92% of the company’s stock.

Several equities analysts recently commented on the company. Zacks Investment Research upgraded Charles Schwab from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research note on Wednesday, March 13th. ValuEngine upgraded Charles Schwab from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. Wells Fargo & Co dropped their price objective on Charles Schwab from $48.00 to $47.00 and set a “market perform” rating on the stock in a research note on Friday, April 5th. Deutsche Bank dropped their price objective on Charles Schwab from $54.00 to $53.00 and set a “buy” rating on the stock in a research note on Friday, March 15th. Finally, Bank of America set a $50.00 price objective on Charles Schwab and gave the company a “buy” rating in a research note on Tuesday, April 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. Charles Schwab has an average rating of “Buy” and a consensus target price of $52.70.

Shares of NYSE:SCHW traded up $0.26 during trading on Monday, hitting $41.27. 68,506 shares of the company were exchanged, compared to its average volume of 6,892,191. The company has a market cap of $54.75 billion, a P/E ratio of 16.81, a P/E/G ratio of 1.88 and a beta of 1.35. Charles Schwab Co. has a 52-week low of $37.83 and a 52-week high of $56.60. 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 (NYSE:SCHW) last posted its earnings results on Monday, April 15th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.03. The firm had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.67 billion. Charles Schwab had a return on equity of 20.47% and a net margin of 35.27%. The business’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.55 earnings per share. On average, analysts expect that Charles Schwab Co. will post 2.77 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Wednesday, May 15th were issued a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $0.68 annualized dividend and a dividend yield of 1.65%. Charles Schwab’s payout ratio is currently 27.76%.

In other news, Director Stephen T. Mclin sold 4,356 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $43.85, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Charles A. Ruffel purchased 2,500 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was purchased at an average cost of $46.10 per share, for a total transaction of $115,250.00. Following the acquisition, the director now owns 788 shares of the company’s stock, valued at approximately $36,326.80. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 841,576 shares of company stock worth $38,416,671. Insiders own 10.90% of the company’s stock.

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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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Institutional Ownership by Quarter for Charles Schwab (NYSE:SCHW)

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