PFG Advisors lifted its stake in shares of The Charles Schwab Co. (NYSE: SCHW – Get Rating) by 1,832.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 646,036 shares of the financial services provider’s stock after purchasing an additional 612,601 shares during the quarter. Charles Schwab comprises 4.0% of PFG Advisors’ investment portfolio, making the stock its 5th biggest holding. PFG Advisors’ holdings in Charles Schwab were worth $ 39,965,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently added to or reduced their stakes in the company. Cetera Advisor Networks LLC lifted its position in Charles Schwab by 11.7% in the 3rd quarter. Cetera Advisor Networks LLC now owns 18,109 shares of the financial services provider’s stock valued at $ 1,319,000 after acquiring an additional 1,896 shares in the last quarter. Cetera Advisors LLC lifted its position in Charles Schwab by 7.4% in the 3rd quarter. Cetera Advisors LLC now owns 5,556 shares of the financial services provider’s stock valued at $ 405,000 after acquiring an additional 383 shares in the last quarter. Studio Investment Management LLC bought a new position in Charles Schwab in the 3rd quarter valued at about $ 426,000. National Pension Service lifted its position in Charles Schwab by 0.8% in the 3rd quarter. National Pension Service now owns 2,080,148 shares of the financial services provider’s stock valued at $ 151,518,000 after acquiring an additional 16,509 shares in the last quarter. Finally, Liontrust Investment Partners LLP bought a new position in Charles Schwab in the 3rd quarter valued at about $ 137,933,000. 87.13% of the stock is currently owned by institutional investors.
In other news, EVP Jonathan M. Craig sold 4,016 shares of the business’s stock in a transaction on Thursday, April 7th. The shares were sold at an average price of $ 80.02, for a total transaction of $ 321,360.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Walter W. Bettinger purchased 4,341 shares of Charles Schwab stock in a transaction dated Wednesday, April 27th. The shares were purchased at an average price of $ 68.55 per share, with a total value of $ 297,575.55. Following the completion of the transaction, the chief executive officer now directly owns 359,714 shares in the company, valued at $ 24,658,394.70. The disclosure for this purchase can be found here. Insiders purchased a total of 104,169 shares of company stock valued at $ 7,081,708 over the last quarter. 6.90% of the stock is owned by company insiders.
Shares of SCHW stock opened at $ 64.15 on Tuesday. The Charles Schwab Co. has a 12-month low of $ 59.35 and a 12-month high of $ 96.24. The firm has a market cap of $ 116.56 billion, a P / E ratio of 23.24, a PEG ratio of 0.74 and a beta of 1.09. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.58. The company has a 50 day moving average of $ 66.43 and a 200-day moving average of $ 79.40.
Charles Schwab (NYSE: SCHW – Get Rating) last released its quarterly earnings data on Monday, April 18th. The financial services provider reported $ 0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $ 0.85 by ($ 0.08). Charles Schwab had a net margin of 31.24% and a return on equity of 13.67%. The business had revenue of $ 4.67 billion during the quarter, compared to analysts’ expectations of $ 4.82 billion. During the same quarter in the prior year, the firm posted $ 0.84 earnings per share. The firm’s quarterly revenue was down .9% on a year-over-year basis. As a group, equities analysts expect that The Charles Schwab Co. will post 3.88 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 27th. Investors of record on Friday, May 13th were paid a $ 0.20 dividend. The ex-dividend date of this dividend was Thursday, May 12th. This represents a $ 0.80 dividend on an annualized basis and a yield of 1.25%. Charles Schwab’s dividend payout ratio is 28.99%.
Several brokerages recently weighed in on SCHW. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Charles Schwab from $ 84.00 to $ 80.00 and set a “buy” rating on the stock in a research report on Tuesday. Citigroup lifted their target price on shares of Charles Schwab from $ 87.50 to $ 90.00 and gave the stock a “buy” rating in a research report on Friday, April 22nd. Jefferies Financial Group dropped their target price on shares of Charles Schwab to $ 95.00 in a research report on Friday, April 22nd. The Goldman Sachs Group assumed coverage on shares of Charles Schwab in a research report on Tuesday, April 26th. They set a “neutral” rating and a $ 75.00 target price on the stock. Finally, JPMorgan Chase & Co. dropped their target price on shares of Charles Schwab from $ 107.00 to $ 101.00 in a research report on Thursday, April 14th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $ 92.93.
About Charles Schwab: (Get Rating)
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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