Man Group plc Raises Position in The Charles Schwab Co. (NYSE:SCHW)

Man Group plc grew its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 27.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 465,100 shares of the financial services provider’s stock after buying an additional 101,187 shares during the period. Man Group plc’s holdings in Charles Schwab were worth $34,422,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Merit Financial Group LLC raised its stake in shares of Charles Schwab by 230.1% during the 4th quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider’s stock worth $2,483,000 after buying an additional 23,383 shares during the last quarter. Oregon Pacific Wealth Management LLC purchased a new stake in Charles Schwab in the 4th quarter worth approximately $688,000. Cary Street Partners Financial LLC purchased a new stake in shares of Charles Schwab in the fourth quarter valued at $1,455,000. Golden State Equity Partners lifted its position in Charles Schwab by 293.9% during the fourth quarter. Golden State Equity Partners now owns 12,207 shares of the financial services provider’s stock worth $903,000 after buying an additional 9,108 shares during the period. Finally, Asset Management One Co. Ltd. boosted its stake in Charles Schwab by 7.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 637,957 shares of the financial services provider’s stock worth $47,674,000 after buying an additional 43,308 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Buying and Selling at Charles Schwab

In related news, insider Jonathan M. Craig sold 9,559 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $82.00, for a total value of $783,838.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Frank C. Herringer sold 3,592 shares of Charles Schwab stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $74.26, for a total transaction of $266,741.92. Following the completion of the sale, the director now owns 172,162 shares in the company, valued at approximately $12,784,750.12. This represents a 2.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,412 shares of company stock worth $3,014,797. 6.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

SCHW has been the subject of several research reports. The Goldman Sachs Group raised shares of Charles Schwab from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research note on Friday, April 25th. Barclays lowered their price target on Charles Schwab from $96.00 to $84.00 and set an “overweight” rating for the company in a research report on Monday, April 7th. JPMorgan Chase & Co. raised their price target on shares of Charles Schwab from $92.00 to $95.00 and gave the company an “overweight” rating in a report on Monday, April 21st. Citigroup upgraded Charles Schwab from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $85.00 to $102.00 in a research note on Wednesday, April 2nd. Finally, JMP Securities reissued a “market outperform” rating and set a $94.00 target price on shares of Charles Schwab in a research report on Monday, April 21st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Charles Schwab has an average rating of “Moderate Buy” and a consensus price target of $88.33.

Charles Schwab Stock Performance

SCHW stock opened at $88.06 on Friday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $88.37. The stock’s 50 day simple moving average is $78.44 and its 200 day simple moving average is $78.25. The firm has a market cap of $159.70 billion, a P/E ratio of 29.45, a P/E/G ratio of 0.99 and a beta of 0.90.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.03. The firm had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.46 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. During the same quarter last year, the company posted $0.74 earnings per share. As a group, equities research analysts predict that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 9th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.08 dividend on an annualized basis and a yield of 1.23%. Charles Schwab’s payout ratio is currently 32.73%.

Charles Schwab Company Profile

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.