Charles Schwab Co. (SCHW) Stake Increased by Gardner Lewis Asset Management L P

Gardner Lewis Asset Management L P grew its stake in shares of Charles Schwab Co. (NYSE:SCHW) by 15.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 149,310 shares of the financial services provider’s stock after acquiring an additional 19,570 shares during the quarter. Charles Schwab comprises about 0.6% of Gardner Lewis Asset Management L P’s portfolio, making the stock its 29th biggest holding. Gardner Lewis Asset Management L P’s holdings in Charles Schwab were worth $6,201,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. BB&T Corp lifted its position in shares of Charles Schwab by 1.2% during the 4th quarter. BB&T Corp now owns 55,647 shares of the financial services provider’s stock worth $2,311,000 after buying an additional 651 shares during the last quarter. D.A. Davidson & CO. lifted its position in shares of Charles Schwab by 11.8% during the 3rd quarter. D.A. Davidson & CO. now owns 182,244 shares of the financial services provider’s stock worth $8,957,000 after buying an additional 19,298 shares during the last quarter. QCI Asset Management Inc. NY lifted its position in shares of Charles Schwab by 0.7% during the 4th quarter. QCI Asset Management Inc. NY now owns 334,504 shares of the financial services provider’s stock worth $13,892,000 after buying an additional 2,445 shares during the last quarter. Neuberger Berman Group LLC lifted its position in shares of Charles Schwab by 2.5% during the 3rd quarter. Neuberger Berman Group LLC now owns 2,733,845 shares of the financial services provider’s stock worth $134,369,000 after buying an additional 67,913 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Charles Schwab by 0.7% during the 3rd quarter. Franklin Resources Inc. now owns 9,728,031 shares of the financial services provider’s stock worth $478,181,000 after buying an additional 63,532 shares during the last quarter. Hedge funds and other institutional investors own 78.42% of the company’s stock.

In related news, EVP Jonathan M. Craig sold 3,739 shares of the firm’s stock in a transaction that occurred on Tuesday, January 15th. The stock was sold at an average price of $43.58, for a total transaction of $162,945.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Charles R. Schwab sold 250,000 shares of the firm’s stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $47.04, for a total value of $11,760,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 356,416 shares of company stock valued at $16,652,483. Insiders own 11.50% of the company’s stock.

Several equities analysts have commented on SCHW shares. Zacks Investment Research upgraded Charles Schwab from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research report on Wednesday. ValuEngine downgraded Charles Schwab from a “hold” rating to a “sell” rating in a research report on Friday, February 22nd. UBS Group downgraded Charles Schwab from a “neutral” rating to a “sell” rating and dropped their target price for the company from $48.00 to $42.00 in a research report on Wednesday, February 20th. Credit Suisse Group increased their target price on Charles Schwab from $50.00 to $54.00 and gave the company an “outperform” rating in a research report on Thursday, January 17th. Finally, Raymond James increased their target price on Charles Schwab from $51.00 to $54.00 and gave the company an “outperform” rating in a research report on Wednesday, January 16th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $53.22.

Shares of SCHW stock traded up $0.35 on Friday, hitting $45.65. The company had a trading volume of 38,813 shares, compared to its average volume of 6,559,009. The stock has a market cap of $60.38 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 1.02 and a beta of 1.34. The company has a current ratio of 1.08, a quick ratio of 0.83 and a debt-to-equity ratio of 0.38. Charles Schwab Co. has a twelve month low of $37.83 and a twelve month high of $60.22.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Wednesday, January 16th. The financial services provider reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.01. The company had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.64 billion. Charles Schwab had a return on equity of 20.11% and a net margin of 34.61%. The business’s quarterly revenue was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.44 earnings per share. Sell-side analysts forecast that Charles Schwab Co. will post 2.81 earnings per share for the current year.

Charles Schwab announced that its board has approved a stock repurchase program on Wednesday, January 30th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 6.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

The business also recently declared a quarterly dividend, which was paid on Thursday, February 28th. Stockholders of record on Thursday, February 14th were paid a $0.17 dividend. This is a boost from Charles Schwab’s previous quarterly dividend of $0.13. The ex-dividend date was Wednesday, February 13th. This represents a $0.68 annualized dividend and a dividend yield of 1.49%. Charles Schwab’s dividend payout ratio is presently 27.76%.

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Charles Schwab 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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Institutional Ownership by Quarter for Charles Schwab (NYSE:SCHW)

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