Douglass Winthrop Advisors LLC boosted its holdings in shares of Charles Schwab Co. (NYSE:SCHW) by 38.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,266 shares of the financial services provider’s stock after purchasing an additional 1,749 shares during the quarter. Douglass Winthrop Advisors LLC’s holdings in Charles Schwab were worth $327,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the stock. BlackRock Inc. lifted its position in shares of Charles Schwab by 5.2% in the 4th quarter. BlackRock Inc. now owns 79,858,312 shares of the financial services provider’s stock worth $4,102,323,000 after acquiring an additional 3,943,376 shares during the period. Maverick Capital Ltd. acquired a new position in shares of Charles Schwab in the 4th quarter worth approximately $161,834,000. Amundi Pioneer Asset Management Inc. raised its holdings in shares of Charles Schwab by 40.7% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 6,879,265 shares of the financial services provider’s stock worth $353,386,000 after buying an additional 1,991,425 shares in the last quarter. WCM Investment Management CA raised its holdings in shares of Charles Schwab by 124.8% in the 4th quarter. WCM Investment Management CA now owns 2,207,060 shares of the financial services provider’s stock worth $113,378,000 after buying an additional 1,225,146 shares in the last quarter. Finally, Boston Partners raised its holdings in shares of Charles Schwab by 179.0% in the 1st quarter. Boston Partners now owns 1,669,728 shares of the financial services provider’s stock worth $87,194,000 after buying an additional 1,071,184 shares in the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.
A number of equities analysts have recently issued reports on the company. ValuEngine raised Charles Schwab from a “hold” rating to a “buy” rating in a report on Friday, April 27th. Morgan Stanley dropped their target price on Charles Schwab from $65.00 to $63.00 and set an “overweight” rating for the company in a report on Wednesday, April 25th. Credit Suisse Group dropped their target price on Charles Schwab from $62.00 to $61.00 and set an “outperform” rating for the company in a report on Monday, April 23rd. Jefferies Group reissued a “buy” rating and issued a $65.00 target price on shares of Charles Schwab in a report on Friday, April 20th. Finally, Deutsche Bank increased their target price on Charles Schwab from $54.00 to $55.00 and gave the stock a “hold” rating in a report on Tuesday, April 17th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $55.53.
Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Monday, April 16th. The financial services provider reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.01. Charles Schwab had a return on equity of 16.84% and a net margin of 28.80%. The firm had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.38 billion. During the same period last year, the firm posted $0.39 EPS. The business’s revenue was up 15.2% on a year-over-year basis. equities research analysts expect that Charles Schwab Co. will post 2.43 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 25th. Investors of record on Friday, May 11th will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, May 10th. This represents a $0.40 dividend on an annualized basis and a yield of 0.67%. Charles Schwab’s dividend payout ratio is 24.39%.
In related news, EVP Terri R. Kallsen sold 5,000 shares of the firm’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $52.94, for a total transaction of $264,700.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Marie A. Chandoha sold 31,386 shares of the firm’s stock in a transaction on Friday, April 20th. The shares were sold at an average price of $54.79, for a total value of $1,719,638.94. The disclosure for this sale can be found here. Insiders have sold a total of 1,948,471 shares of company stock valued at $109,404,096 over the last ninety days. Insiders own 11.50% of the company’s stock.
Charles Schwab Company Profile
The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, 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, retirement plan, and mutual fund clearing services.
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