Citizens Financial Group Inc RI trimmed its holdings in shares of Charles Schwab Corp (NYSE:SCHW) by 9.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,510 shares of the financial services provider’s stock after selling 1,245 shares during the quarter. Citizens Financial Group Inc RI’s holdings in Charles Schwab were worth $591,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Bogart Wealth LLC increased its position in shares of Charles Schwab by 1,100.0% during the fourth quarter. Bogart Wealth LLC now owns 2,040 shares of the financial services provider’s stock worth $105,000 after purchasing an additional 1,870 shares in the last quarter. Zions Bancorporation increased its position in shares of Charles Schwab by 1,545.3% during the third quarter. Zions Bancorporation now owns 3,817 shares of the financial services provider’s stock worth $167,000 after purchasing an additional 3,585 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Charles Schwab during the fourth quarter worth approximately $187,000. Lourd Capital LLC purchased a new stake in shares of Charles Schwab during the fourth quarter worth approximately $208,000. Finally, Fiduciary Trust Co. purchased a new stake in shares of Charles Schwab during the fourth quarter worth approximately $208,000. 80.45% of the stock is owned by institutional investors and hedge funds.
Several analysts recently commented on the company. Credit Suisse Group reiterated a “positive” rating and set a $70.00 price target (up from $64.00) on shares of Charles Schwab in a research report on Thursday, January 18th. Nomura reiterated a “neutral” rating and set a $54.00 price target (up from $50.00) on shares of Charles Schwab in a research report on Thursday, January 18th. Argus boosted their price target on Charles Schwab from $59.00 to $69.00 and gave the stock a “buy” rating in a research report on Thursday, January 18th. Citigroup reiterated a “neutral” rating on shares of Charles Schwab in a research report on Friday, January 19th. Finally, Morgan Stanley boosted their price target on Charles Schwab from $61.00 to $63.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $53.88.
Shares of Charles Schwab Corp (NYSE SCHW) opened at $52.17 on Tuesday. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $69,940.00, a price-to-earnings ratio of 33.02, a price-to-earnings-growth ratio of 1.29 and a beta of 1.63. Charles Schwab Corp has a twelve month low of $37.16 and a twelve month high of $56.25.
Charles Schwab (NYSE:SCHW) last issued its earnings results on Wednesday, January 17th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.03. The company had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Charles Schwab had a return on equity of 16.31% and a net margin of 27.32%. The firm’s quarterly revenue was up 13.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.36 EPS. equities research analysts anticipate that Charles Schwab Corp will post 2.39 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Friday, February 9th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, February 8th. This is a boost from Charles Schwab’s previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.77%. Charles Schwab’s dividend payout ratio is currently 25.32%.
In other news, Chairman Charles R. Schwab sold 300,000 shares of the stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $55.31, for a total transaction of $16,593,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Charles R. Schwab sold 74,450 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $52.17, for a total value of $3,884,056.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,733,394 shares of company stock valued at $89,462,077. Company insiders own 12.00% of the company’s stock.
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Charles Schwab Profile
The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.
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