Intermede Investment Partners Ltd Boosts Holdings in Charles Schwab Co. (SCHW)

Intermede Investment Partners Ltd raised its position in shares of Charles Schwab Co. (NYSE:SCHW) by 5.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,673,308 shares of the financial services provider’s stock after buying an additional 84,101 shares during the period. Charles Schwab comprises about 5.6% of Intermede Investment Partners Ltd’s holdings, making the stock its 3rd largest holding. Intermede Investment Partners Ltd owned about 0.12% of Charles Schwab worth $69,492,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Laurel Wealth Advisors LLC purchased a new position in Charles Schwab in the 4th quarter valued at about $31,000. First Personal Financial Services boosted its position in Charles Schwab by 51.9% in the 4th quarter. First Personal Financial Services now owns 825 shares of the financial services provider’s stock valued at $34,000 after buying an additional 282 shares during the last quarter. Proficio Capital Partners LLC boosted its position in Charles Schwab by 70.2% in the 4th quarter. Proficio Capital Partners LLC now owns 1,028 shares of the financial services provider’s stock valued at $43,000 after buying an additional 424 shares during the last quarter. Clearbridge LLC boosted its position in Charles Schwab by 75.1% in the 4th quarter. Clearbridge LLC now owns 1,096 shares of the financial services provider’s stock valued at $46,000 after buying an additional 470 shares during the last quarter. Finally, Semmax Financial Advisors Inc. purchased a new position in Charles Schwab in the 4th quarter valued at about $47,000. Hedge funds and other institutional investors own 78.42% of the company’s stock.

In other Charles Schwab news, CEO Walter W. Bettinger acquired 93,090 shares of the company’s stock in a transaction that occurred on Monday, December 24th. The shares were purchased at an average price of $39.09 per share, for a total transaction of $3,638,888.10. Following the completion of the purchase, the chief executive officer now directly owns 335,093 shares in the company, valued at $13,098,785.37. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Charles R. Schwab sold 250,000 shares of the stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $47.04, for a total transaction of $11,760,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 356,416 shares of company stock worth $16,652,483. 11.50% of the stock is owned by company insiders.

SCHW has been the subject of a number of analyst reports. UBS Group cut shares of Charles Schwab from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $48.00 to $42.00 in a research report on Wednesday, February 20th. Raymond James upped their price objective on shares of Charles Schwab from $51.00 to $54.00 and gave the company an “outperform” rating in a research report on Wednesday, January 16th. Wells Fargo & Co decreased their price objective on shares of Charles Schwab from $53.00 to $44.00 and set a “market perform” rating for the company in a research report on Friday, January 4th. Goldman Sachs Group initiated coverage on shares of Charles Schwab in a research report on Friday, November 30th. They issued a “buy” rating and a $55.00 price objective for the company. Finally, Morgan Stanley reissued an “overweight” rating on shares of Charles Schwab in a research report on Thursday, November 15th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $53.22.

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

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

Charles Schwab announced that its Board of Directors has approved a stock repurchase plan on Wednesday, January 30th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 6.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 28th. Investors of record on Thursday, February 14th were paid a dividend of $0.17 per share. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Wednesday, February 13th. This represents a $0.68 annualized dividend and a yield of 1.49%. Charles Schwab’s dividend payout ratio is 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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