Trust Co. of Vermont decreased its holdings in shares of Charles Schwab Co. (NYSE:SCHW) by 38.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,258 shares of the financial services provider’s stock after selling 11,406 shares during the quarter. Trust Co. of Vermont’s holdings in Charles Schwab were worth $758,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC lifted its holdings in Charles Schwab by 13.7% during the 2nd quarter. FMR LLC now owns 65,193,384 shares of the financial services provider’s stock worth $3,331,382,000 after buying an additional 7,868,551 shares during the last quarter. Millennium Management LLC lifted its holdings in Charles Schwab by 34.8% during the 2nd quarter. Millennium Management LLC now owns 72,778 shares of the financial services provider’s stock worth $3,719,000 after buying an additional 18,806 shares during the last quarter. Verition Fund Management LLC purchased a new stake in Charles Schwab during the 2nd quarter worth about $223,000. Schroder Investment Management Group lifted its holdings in Charles Schwab by 326.4% during the 2nd quarter. Schroder Investment Management Group now owns 575,152 shares of the financial services provider’s stock worth $29,741,000 after buying an additional 440,263 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Charles Schwab by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 12,567,417 shares of the financial services provider’s stock worth $642,195,000 after buying an additional 68,160 shares during the last quarter. 79.78% of the stock is owned by institutional investors and hedge funds.
SCHW stock opened at $46.36 on Friday. Charles Schwab Co. has a 1 year low of $37.83 and a 1 year high of $60.22. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market capitalization of $62.61 billion, a P/E ratio of 18.92, a P/E/G ratio of 1.06 and a beta of 1.37.
Charles Schwab (NYSE:SCHW) last posted its earnings results on Wednesday, January 16th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.01. Charles Schwab had a return on equity of 20.28% and a net margin of 34.61%. The firm had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same quarter in the prior year, the company earned $0.44 EPS. Charles Schwab’s revenue was up 19.0% on a year-over-year basis. Analysts expect that Charles Schwab Co. will post 2.81 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 28th. Shareholders of record on Thursday, February 14th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Wednesday, February 13th. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.13. Charles Schwab’s dividend payout ratio is currently 27.76%.
Charles Schwab declared that its Board of Directors has authorized a stock repurchase program on Thursday, October 25th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 1.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.
A number of analysts have issued reports on the company. Morgan Stanley decreased their price target on Charles Schwab from $66.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, November 14th. UBS Group downgraded Charles Schwab from a “buy” rating to a “neutral” rating in a report on Monday, November 19th. Raymond James boosted their target price on Charles Schwab from $51.00 to $54.00 and gave the company an “outperform” rating in a report on Wednesday, January 16th. ValuEngine raised Charles Schwab from a “sell” rating to a “hold” rating in a report on Wednesday, January 16th. Finally, Credit Suisse Group boosted their price target on Charles Schwab from $50.00 to $54.00 and gave the company an “outperform” rating in a research report on Thursday, January 17th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $54.31.
In other Charles Schwab news, EVP Terri R. Kallsen sold 4,913 shares of the stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $46.09, for a total transaction of $226,440.17. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Charles R. Schwab sold 250,000 shares of the stock in a transaction 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 have sold 258,652 shares of company stock worth $12,149,386. Corporate insiders own 11.50% of the company’s stock.
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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