Barrett Asset Management LLC lessened its holdings in shares of The Charles Schwab Co. (NYSE:SCHW – Get Rating) by 19.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,213 shares of the financial services provider’s stock after selling 2,759 shares during the period. Barrett Asset Management LLC’s holdings in Charles Schwab were worth $945,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. SBK Financial Inc. acquired a new stake in Charles Schwab in the fourth quarter valued at $25,000. Princeton Global Asset Management LLC grew its holdings in Charles Schwab by 104.5% in the first quarter. Princeton Global Asset Management LLC now owns 321 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 164 shares during the last quarter. Roble Belko & Company Inc acquired a new stake in Charles Schwab in the first quarter valued at $30,000. Worth Asset Management LLC acquired a new stake in Charles Schwab in the first quarter valued at $32,000. Finally, Joseph P. Lucia & Associates LLC acquired a new stake in Charles Schwab in the first quarter valued at $33,000. Institutional investors and hedge funds own 82.45% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have weighed in on the company. Barclays began coverage on Charles Schwab in a report on Wednesday, August 31st. They issued an “equal weight” rating and a $81.00 target price on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on Charles Schwab from $90.00 to $95.00 in a research note on Friday, August 19th. Redburn Partners began coverage on Charles Schwab in a research note on Thursday, June 23rd. They set a “neutral” rating on the stock. Morgan Stanley decreased their price objective on Charles Schwab from $98.00 to $93.00 and set an “overweight” rating on the stock in a research note on Monday, August 1st. Finally, UBS Group increased their price objective on Charles Schwab from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, July 29th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Charles Schwab has an average rating of “Moderate Buy” and a consensus price target of $91.92.
Charles Schwab Stock Performance
Charles Schwab (NYSE:SCHW – Get Rating) last released its quarterly earnings data on Monday, July 18th. The financial services provider reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.06. The company had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $5.04 billion. Charles Schwab had a return on equity of 16.82% and a net margin of 33.09%. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period last year, the business posted $0.70 EPS. On average, research analysts predict that The Charles Schwab Co. will post 3.9 earnings per share for the current year.
Charles Schwab Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 26th. Stockholders of record on Friday, August 12th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.18%. This is an increase from Charles Schwab’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Thursday, August 11th. Charles Schwab’s dividend payout ratio (DPR) is 28.95%.
Insider Transactions at Charles Schwab
In other news, insider Jonathan M. Craig sold 8,032 shares of the firm’s stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $75.00, for a total value of $602,400.00. Following the transaction, the insider now directly owns 4,019 shares in the company, valued at approximately $301,425. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Jonathan M. Craig sold 8,032 shares of the firm’s stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $75.00, for a total transaction of $602,400.00. Following the sale, the insider now directly owns 4,019 shares in the company, valued at approximately $301,425. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Charles R. Schwab sold 149,600 shares of the firm’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $65.36, for a total value of $9,777,856.00. Following the sale, the chairman now owns 69,749,230 shares in the company, valued at $4,558,809,672.80. The disclosure for this sale can be found here. Insiders have sold a total of 277,632 shares of company stock worth $17,904,256 in the last three months. 7.50% of the stock is currently owned by company insiders.
About Charles Schwab
The Charles Schwab Corporation, together with its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates in two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage, investment advisory, banking and trust, retirement plan, 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 and mutual fund clearing services, as well as compliance solutions.
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