Bessemer Group Inc. trimmed its position in The Charles Schwab Co. (NYSE:SCHW) by 31.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 92,128 shares of the financial services provider’s stock after selling 41,928 shares during the quarter. Bessemer Group Inc.’s holdings in The Charles Schwab were worth $4,030,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in The Charles Schwab by 3.2% during the second quarter. Vanguard Group Inc. now owns 81,925,586 shares of the financial services provider’s stock worth $3,519,523,000 after acquiring an additional 2,536,947 shares in the last quarter. BlackRock Inc. raised its stake in The Charles Schwab by 2.5% during the second quarter. BlackRock Inc. now owns 73,666,134 shares of the financial services provider’s stock worth $3,164,699,000 after acquiring an additional 1,790,015 shares in the last quarter. JPMorgan Chase & Co. raised its stake in The Charles Schwab by 1.3% during the second quarter. JPMorgan Chase & Co. now owns 39,576,199 shares of the financial services provider’s stock worth $1,700,193,000 after acquiring an additional 491,451 shares in the last quarter. FMR LLC raised its stake in The Charles Schwab by 11.3% during the second quarter. FMR LLC now owns 30,766,004 shares of the financial services provider’s stock worth $1,321,708,000 after acquiring an additional 3,128,532 shares in the last quarter. Finally, Capital Research Global Investors raised its stake in The Charles Schwab by 86.3% during the second quarter. Capital Research Global Investors now owns 24,237,199 shares of the financial services provider’s stock worth $1,041,230,000 after acquiring an additional 11,224,199 shares in the last quarter. Institutional investors and hedge funds own 79.41% of the company’s stock.
In related news, insider Walter W. Bettinger bought 72,510 shares of The Charles Schwab stock in a transaction on Tuesday, November 7th. The shares were purchased at an average price of $27.21 per share, for a total transaction of $1,972,997.10. Following the completion of the acquisition, the insider now owns 41,330 shares in the company, valued at $1,124,589.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Terri R. Kallsen sold 815 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $43.97, for a total value of $35,835.55. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 373,095 shares of company stock worth $16,694,240. Company insiders own 12.00% of the company’s stock.
Several research analysts have issued reports on the company. Barclays PLC increased their price objective on The Charles Schwab from $48.00 to $51.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 10th. Instinet reiterated a “neutral” rating and set a $43.00 price objective (down from $46.00) on shares of The Charles Schwab in a research note on Monday, July 24th. Argus reiterated a “buy” rating and set a $48.00 price objective (up from $46.00) on shares of The Charles Schwab in a research note on Friday, July 21st. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $47.00 price objective on shares of The Charles Schwab in a research note on Friday, September 15th. Finally, Deutsche Bank AG increased their price objective on The Charles Schwab from $46.00 to $47.00 and gave the stock a “hold” rating in a research note on Wednesday, October 25th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $47.07.
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The Charles Schwab Co. (NYSE:SCHW) opened at $44.27 on Monday. The stock has a market capitalization of $59,010.00, a PE ratio of 28.38, a P/E/G ratio of 1.88 and a beta of 1.74. The Charles Schwab Co. has a 1-year low of $34.85 and a 1-year high of $46.21. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.21.
The Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.01. The business had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.18 billion. The Charles Schwab had a return on equity of 15.40% and a net margin of 27.36%. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.35 earnings per share. equities analysts forecast that The Charles Schwab Co. will post 1.62 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Friday, November 10th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.72%. The ex-dividend date is Thursday, November 9th. The Charles Schwab’s dividend payout ratio is 20.51%.
About The 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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