Centaurus Financial Inc. acquired a new position in The Charles Schwab Co. (NYSE:SCHW – Get Rating) during the 3rd quarter, Holdings Channel reports. The fund acquired 4,480 shares of the financial services provider’s stock, valued at approximately $322,000.
Several other institutional investors and hedge funds have also made changes to their positions in the business. American Trust raised its position in shares of Charles Schwab by 34.8% during the 3rd quarter. American Trust now owns 40,976 shares of the financial services provider’s stock worth $2,945,000 after purchasing an additional 10,570 shares during the last quarter. Aurora Investment Counsel lifted its position in shares of Charles Schwab by 2.1% in the third quarter. Aurora Investment Counsel now owns 27,964 shares of the financial services provider’s stock valued at $2,010,000 after acquiring an additional 566 shares in the last quarter. Toroso Investments LLC boosted its stake in shares of Charles Schwab by 5.6% during the third quarter. Toroso Investments LLC now owns 116,216 shares of the financial services provider’s stock valued at $8,352,000 after acquiring an additional 6,190 shares during the last quarter. FSB Premier Wealth Management Inc. purchased a new stake in Charles Schwab during the 3rd quarter worth about $232,000. Finally, IHT Wealth Management LLC acquired a new position in Charles Schwab in the 3rd quarter valued at about $283,000. 73.49% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Charles Schwab from $109.00 to $83.00 and set a “buy” rating for the company in a report on Tuesday, March 14th. Credit Suisse Group raised shares of Charles Schwab from a “neutral” rating to an “outperform” rating and lowered their target price for the stock from $81.50 to $67.50 in a research note on Wednesday. Keefe, Bruyette & Woods boosted their price target on Charles Schwab from $88.00 to $94.00 and gave the company an “outperform” rating in a report on Thursday, January 12th. William Blair reaffirmed an “outperform” rating on shares of Charles Schwab in a research report on Tuesday, January 17th. Finally, The Goldman Sachs Group dropped their target price on Charles Schwab from $98.00 to $75.00 and set a “buy” rating for the company in a research note on Tuesday, March 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.04.
Charles Schwab Trading Down 2.5 %
NYSE SCHW opened at $56.41 on Friday. The firm has a market capitalization of $101.06 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 1.32 and a beta of 0.93. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.38 and a current ratio of 0.38. The Charles Schwab Co. has a one year low of $45.00 and a one year high of $93.16. The company’s 50 day moving average price is $76.48 and its 200 day moving average price is $76.60.
Charles Schwab (NYSE:SCHW – Get Rating) last released its quarterly earnings data on Wednesday, January 18th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($0.03). Charles Schwab had a return on equity of 24.94% and a net margin of 34.60%. The business had revenue of $5.50 billion during the quarter, compared to analyst estimates of $5.55 billion. During the same period in the previous year, the company earned $0.86 EPS. Charles Schwab’s revenue was up 16.8% on a year-over-year basis. On average, sell-side analysts predict that The Charles Schwab Co. will post 4.1 EPS for the current year.
Charles Schwab Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, February 24th. Investors of record on Friday, February 10th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, February 9th. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.22. This represents a $1.00 annualized dividend and a yield of 1.77%. Charles Schwab’s payout ratio is 28.57%.
Insider Buying and Selling
In other news, President Richard A. Wurster acquired 2,000 shares of the company’s stock in a transaction dated Friday, March 17th. The shares were bought at an average price of $54.39 per share, for a total transaction of $108,780.00. Following the completion of the purchase, the president now directly owns 101,391 shares of the company’s stock, valued at approximately $5,514,656.49. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Charles Schwab news, Director Todd M. Ricketts acquired 10,000 shares of the stock in a transaction on Tuesday, March 14th. The stock was purchased at an average price of $56.79 per share, for a total transaction of $567,900.00. Following the purchase, the director now directly owns 230,892 shares in the company, valued at $13,112,356.68. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Richard A. Wurster acquired 2,000 shares of the company’s stock in a transaction on Friday, March 17th. The shares were acquired at an average price of $54.39 per share, for a total transaction of $108,780.00. Following the completion of the acquisition, the president now directly owns 101,391 shares in the company, valued at $5,514,656.49. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 71,000 shares of company stock valued at $4,165,460 and have sold 728,106 shares valued at $58,067,403. 7.50% of the stock is currently owned by corporate insiders.
Charles Schwab Company Profile
The Charles Schwab Corp. is a savings and loan holding company, which engages in the provision of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. It operates through the Investor Services and Advisor Services segments. The Investor Services segment includes retail brokerage and banking services to individual investors, and retirement plan services, as well as other corporate brokerage services, to businesses and their employees.
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