California State Teachers Retirement System lowered its position in shares of Charles Schwab Corp (NYSE:SCHW) by 1.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,980,683 shares of the financial services provider’s stock after selling 26,859 shares during the quarter. California State Teachers Retirement System’s holdings in Charles Schwab were worth $101,748,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bogart Wealth LLC lifted its holdings in shares of Charles Schwab by 1,100.0% during the fourth quarter. Bogart Wealth LLC now owns 2,040 shares of the financial services provider’s stock worth $105,000 after buying an additional 1,870 shares in the last quarter. Pinnacle Wealth Planning Services Inc. acquired a new stake in shares of Charles Schwab during the fourth quarter worth $118,000. Zions Bancorporation lifted its holdings in shares of Charles Schwab by 1,545.3% during the third quarter. Zions Bancorporation now owns 3,817 shares of the financial services provider’s stock worth $167,000 after buying an additional 3,585 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Charles Schwab in the fourth quarter valued at about $187,000. Finally, Lourd Capital LLC acquired a new position in Charles Schwab in the fourth quarter valued at about $208,000. 79.98% of the stock is owned by institutional investors.
A number of research analysts recently commented on SCHW shares. SunTrust Banks boosted their price target on Charles Schwab to $56.00 and gave the company an “average” rating in a research note on Friday, December 15th. They noted that the move was a valuation call. Argus boosted their price target on Charles Schwab from $59.00 to $69.00 and gave the company a “buy” rating in a research note on Thursday, January 18th. Credit Suisse Group reaffirmed a “buy” rating and issued a $64.00 price target (up previously from $55.00) on shares of Charles Schwab in a research note on Friday, January 12th. Citigroup reaffirmed a “buy” rating and issued a $60.00 price target (up previously from $52.00) on shares of Charles Schwab in a research note on Tuesday, January 9th. Finally, Zacks Investment Research downgraded Charles Schwab from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $54.33.
Charles Schwab (NYSE:SCHW) last released its earnings results on Wednesday, January 17th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.03. Charles Schwab had a return on equity of 16.03% and a net margin of 27.32%. The firm had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the previous year, the business posted $0.36 earnings per share. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. equities research analysts forecast that Charles Schwab Corp will post 2.4 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date was Thursday, February 8th. This is a boost from Charles Schwab’s previous quarterly dividend of $0.08. Charles Schwab’s payout ratio is currently 24.84%.
In other Charles Schwab news, Chairman Charles R. Schwab sold 300,000 shares of Charles Schwab stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $55.31, for a total value of $16,593,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jonathan M. Craig sold 8,046 shares of the business’s stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $54.31, for a total value of $436,978.26. The disclosure for this sale can be found here. In the last quarter, insiders sold 917,251 shares of company stock worth $50,053,858. Company insiders own 12.00% of the company’s stock.
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About Charles Schwab
The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.
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