Lee Danner & Bass Inc. Takes Position in The Charles Schwab Corporation $SCHW

Lee Danner & Bass Inc. acquired a new stake in shares of The Charles Schwab Corporation (NYSE:SCHW) during the 3rd quarter, Holdings Channel reports. The fund acquired 7,419 shares of the financial services provider’s stock, valued at approximately $708,000.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Charles Schwab by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 151,182,081 shares of the financial services provider’s stock worth $13,793,853,000 after purchasing an additional 2,786,829 shares during the period. State Street Corp grew its position in shares of Charles Schwab by 0.7% in the second quarter. State Street Corp now owns 72,464,619 shares of the financial services provider’s stock valued at $6,611,672,000 after purchasing an additional 531,329 shares during the period. Geode Capital Management LLC increased its stake in Charles Schwab by 2.9% in the second quarter. Geode Capital Management LLC now owns 37,381,183 shares of the financial services provider’s stock valued at $3,399,181,000 after purchasing an additional 1,038,376 shares during the last quarter. Franklin Resources Inc. increased its stake in Charles Schwab by 2.8% in the second quarter. Franklin Resources Inc. now owns 30,035,937 shares of the financial services provider’s stock valued at $2,740,479,000 after purchasing an additional 815,625 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its position in Charles Schwab by 1.0% during the second quarter. Fisher Asset Management LLC now owns 21,376,690 shares of the financial services provider’s stock worth $1,950,409,000 after buying an additional 211,527 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Stock Down 2.7%

Shares of NYSE:SCHW opened at $100.98 on Wednesday. The stock has a 50-day simple moving average of $97.42 and a 200-day simple moving average of $95.70. The stock has a market capitalization of $179.44 billion, a P/E ratio of 23.65, a PEG ratio of 0.71 and a beta of 0.94. The Charles Schwab Corporation has a 1 year low of $65.88 and a 1 year high of $104.98. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.58 and a current ratio of 0.58.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were given a $0.27 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. Charles Schwab’s dividend payout ratio is presently 25.29%.

Insider Activity

In other news, insider Jonathan S. Beatty sold 2,000 shares of the firm’s stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $102.01, for a total value of $204,020.00. Following the transaction, the insider owned 11,923 shares of the company’s stock, valued at approximately $1,216,265.23. This trade represents a 14.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 6.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have commented on SCHW shares. BMO Capital Markets initiated coverage on Charles Schwab in a report on Friday, October 3rd. They issued an “outperform” rating and a $110.00 price target for the company. JMP Securities reissued a “market outperform” rating and issued a $110.00 target price on shares of Charles Schwab in a research report on Friday, October 17th. Citigroup restated a “market outperform” rating on shares of Charles Schwab in a report on Monday, January 12th. Wolfe Research set a $120.00 price target on shares of Charles Schwab in a research report on Monday, January 12th. Finally, JPMorgan Chase & Co. increased their price target on shares of Charles Schwab from $119.00 to $121.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $114.45.

Charles Schwab Company Profile

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.