Philadelphia Financial Management of San Francisco LLC Purchases New Stake in Charles Schwab Co. (SCHW)

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Philadelphia Financial Management of San Francisco LLC purchased a new stake in Charles Schwab Co. (NYSE:SCHW) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 370,172 shares of the financial services provider’s stock, valued at approximately $15,373,000. Charles Schwab makes up approximately 2.9% of Philadelphia Financial Management of San Francisco LLC’s investment portfolio, making the stock its 14th largest holding.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc grew its stake in Charles Schwab by 0.9% during the 3rd quarter. Vanguard Group Inc now owns 88,586,138 shares of the financial services provider’s stock worth $4,354,008,000 after buying an additional 820,257 shares during the last quarter. BlackRock Inc. grew its stake in Charles Schwab by 2.6% during the 3rd quarter. BlackRock Inc. now owns 86,976,839 shares of the financial services provider’s stock worth $4,274,909,000 after buying an additional 2,179,682 shares during the last quarter. Edgewood Management LLC grew its stake in Charles Schwab by 1.6% during the 3rd quarter. Edgewood Management LLC now owns 21,966,947 shares of the financial services provider’s stock worth $1,079,675,000 after buying an additional 349,106 shares during the last quarter. Northern Trust Corp grew its stake in Charles Schwab by 2.1% during the 4th quarter. Northern Trust Corp now owns 16,655,792 shares of the financial services provider’s stock worth $691,715,000 after buying an additional 336,557 shares during the last quarter. Finally, Parnassus Investments CA grew its stake in Charles Schwab by 22.3% during the 4th quarter. Parnassus Investments CA now owns 15,623,778 shares of the financial services provider’s stock worth $648,856,000 after buying an additional 2,850,678 shares during the last quarter. 79.28% of the stock is currently owned by institutional investors.

Shares of SCHW stock opened at $44.56 on Thursday. Charles Schwab Co. has a twelve month low of $37.83 and a twelve month high of $60.22. The company has a market capitalization of $59.39 billion, a price-to-earnings ratio of 18.19, a P/E/G ratio of 1.06 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 (NYSE:SCHW) last announced its 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. Charles Schwab had a return on equity of 20.11% and a net margin of 34.61%. The company had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.64 billion. During the same period last year, the business posted $0.44 EPS. The company’s revenue was up 19.0% on a year-over-year basis. On average, equities analysts expect that Charles Schwab Co. will post 2.8 EPS for the current year.

Charles Schwab announced that its board has authorized a share buyback plan on Wednesday, January 30th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 6.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

The business also recently announced a quarterly dividend, which was paid on Thursday, February 28th. Shareholders of record on Thursday, February 14th were paid a $0.17 dividend. This is an increase from Charles Schwab’s previous quarterly dividend of $0.13. This represents a $0.68 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend was Wednesday, February 13th. Charles Schwab’s dividend payout ratio (DPR) is 27.76%.

In other Charles Schwab news, EVP Jonathan M. Craig sold 3,739 shares of Charles Schwab stock in a transaction that occurred on Tuesday, January 15th. The stock was sold at an average price of $43.58, for a total value of $162,945.62. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Walter W. Bettinger bought 124,669 shares of the stock in a transaction on Wednesday, December 26th. The stock was bought at an average price of $38.81 per share, for a total transaction of $4,838,403.89. Following the completion of the purchase, the insider now directly owns 335,093 shares in the company, valued at approximately $13,004,959.33. The disclosure for this purchase can be found here. Insiders sold a total of 356,416 shares of company stock worth $16,652,483 over the last quarter. Company insiders own 11.50% of the company’s stock.

SCHW has been the topic of a number of research reports. Zacks Investment Research downgraded Charles Schwab from a “hold” rating to a “sell” rating in a research note on Monday, January 14th. UBS Group downgraded Charles Schwab from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $48.00 to $42.00 in a research note on Wednesday, February 20th. ValuEngine downgraded Charles Schwab from a “hold” rating to a “sell” rating in a research note on Friday, February 22nd. Wolfe Research upgraded Charles Schwab from an “underperform” rating to a “market perform” rating in a research note on Tuesday, January 8th. Finally, Morgan Stanley dropped their price target on Charles Schwab from $60.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday, January 4th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $53.15.

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Charles Schwab Company 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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