Riverpark Capital Management LLC decreased its stake in shares of Charles Schwab Corp (NYSE:SCHW) by 14.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 543,193 shares of the financial services provider’s stock after selling 94,795 shares during the period. Charles Schwab accounts for approximately 4.0% of Riverpark Capital Management LLC’s portfolio, making the stock its 4th biggest position. Riverpark Capital Management LLC’s holdings in Charles Schwab were worth $27,904,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of SCHW. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Charles Schwab by 1.7% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 76,544 shares of the financial services provider’s stock valued at $3,348,000 after acquiring an additional 1,313 shares during the last quarter. Stevens Capital Management LP purchased a new position in shares of Charles Schwab in the 3rd quarter valued at about $1,850,000. Daiwa Securities Group Inc. increased its holdings in shares of Charles Schwab by 5.5% in the 3rd quarter. Daiwa Securities Group Inc. now owns 36,142 shares of the financial services provider’s stock valued at $1,581,000 after acquiring an additional 1,892 shares during the last quarter. Hennessy Advisors Inc. purchased a new position in shares of Charles Schwab in the 3rd quarter valued at about $547,000. Finally, Candriam Luxembourg S.C.A. increased its holdings in shares of Charles Schwab by 4.1% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 77,596 shares of the financial services provider’s stock valued at $3,394,000 after acquiring an additional 3,062 shares during the last quarter. Institutional investors own 80.60% of the company’s stock.
In other Charles Schwab news, Chairman Charles R. Schwab sold 300,000 shares of the stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $55.31, for a total transaction of $16,593,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Terri R. Kallsen sold 2,026 shares of the stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $51.30, for a total value of $103,933.80. Following the sale, the executive vice president now directly owns 1,706 shares of the company’s stock, valued at $87,517.80. The disclosure for this sale can be found here. Insiders have sold a total of 917,251 shares of company stock valued at $50,053,858 over the last ninety days. 12.00% of the stock is owned by insiders.
Charles Schwab (NYSE:SCHW) last announced its earnings results on Wednesday, January 17th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. The firm had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Charles Schwab had a return on equity of 16.03% and a net margin of 27.32%. The business’s revenue was up 13.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.36 EPS. research analysts anticipate that Charles Schwab Corp will post 2.4 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.69%. This is a boost from Charles Schwab’s previous quarterly dividend of $0.08. The ex-dividend date was Thursday, February 8th. Charles Schwab’s dividend payout ratio (DPR) is presently 24.84%.
SCHW has been the topic of a number of recent analyst reports. Citigroup reiterated a “neutral” rating on shares of Charles Schwab in a report on Friday, January 19th. Credit Suisse Group dropped their price objective on Charles Schwab from $70.00 to $69.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. Zacks Investment Research downgraded Charles Schwab from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Nomura reiterated a “neutral” rating and issued a $54.00 price objective (up previously from $50.00) on shares of Charles Schwab in a report on Thursday, January 18th. Finally, SunTrust Banks reiterated a “buy” rating and issued a $63.00 price objective (up previously from $56.00) on shares of Charles Schwab in a report on Tuesday, December 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $54.33.
Charles Schwab Profile
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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