Charles Schwab Corp (SCHW) Position Lifted by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. increased its position in shares of Charles Schwab Corp (NYSE:SCHW) by 4.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,871 shares of the financial services provider’s stock after acquiring an additional 1,729 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Charles Schwab were worth $1,945,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Edgewood Management LLC raised its stake in shares of Charles Schwab by 8.4% during the 3rd quarter. Edgewood Management LLC now owns 20,125,345 shares of the financial services provider’s stock worth $880,283,000 after acquiring an additional 1,559,733 shares in the last quarter. Jackson Square Partners LLC grew its position in Charles Schwab by 13.8% during the 3rd quarter. Jackson Square Partners LLC now owns 10,807,952 shares of the financial services provider’s stock worth $472,739,000 after purchasing an additional 1,307,627 shares during the last quarter. Ruane Cunniff & Goldfarb Inc. grew its position in Charles Schwab by 1.6% during the 3rd quarter. Ruane Cunniff & Goldfarb Inc. now owns 8,348,548 shares of the financial services provider’s stock worth $365,165,000 after purchasing an additional 133,869 shares during the last quarter. Bamco Inc. NY grew its position in Charles Schwab by 1.6% during the 3rd quarter. Bamco Inc. NY now owns 6,702,472 shares of the financial services provider’s stock worth $293,166,000 after purchasing an additional 107,596 shares during the last quarter. Finally, Findlay Park Partners LLP grew its position in Charles Schwab by 12.8% during the 3rd quarter. Findlay Park Partners LLP now owns 6,610,979 shares of the financial services provider’s stock worth $289,164,000 after purchasing an additional 752,765 shares during the last quarter. Hedge funds and other institutional investors own 79.47% of the company’s stock.

In related news, EVP Nigel J. Murtagh sold 10,000 shares of the stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $45.79, for a total transaction of $457,900.00. Following the sale, the executive vice president now directly owns 33,441 shares of the company’s stock, valued at $1,531,263.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Charles R. Schwab sold 300,000 shares of the stock in a transaction 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 disclosure for this sale can be found here. Insiders sold a total of 1,658,944 shares of company stock worth $85,578,020 over the last ninety days. Insiders own 12.00% of the company’s stock.

Several research firms have weighed in on SCHW. SunTrust Banks reissued a “buy” rating on shares of Charles Schwab in a research report on Wednesday. Credit Suisse Group dropped their target price on shares of Charles Schwab from $70.00 to $69.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. Citigroup downgraded shares of Charles Schwab from a “neutral” rating to a “sell” rating and set a $49.00 target price on the stock. in a research report on Wednesday, February 7th. Morgan Stanley boosted their target price on shares of Charles Schwab from $61.00 to $63.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 30th. Finally, Nomura reissued a “neutral” rating and set a $54.00 target price (up previously from $50.00) on shares of Charles Schwab in a research report on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Charles Schwab presently has an average rating of “Buy” and a consensus price target of $53.88.

Shares of Charles Schwab Corp (NYSE:SCHW) opened at $52.40 on Thursday. The company has a market cap of $70,250.00, a price-to-earnings ratio of 32.55, a PEG ratio of 1.26 and a beta of 1.63. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.21. Charles Schwab Corp has a twelve month low of $37.16 and a twelve month high of $56.25.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.41 by $0.03. The business had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.24 billion. Charles Schwab had a net margin of 27.32% and a return on equity of 16.31%. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.36 EPS. sell-side analysts predict that Charles Schwab Corp will post 2.37 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Friday, February 9th will be issued a $0.10 dividend. This is an increase from Charles Schwab’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a dividend yield of 0.76%. The ex-dividend date is Thursday, February 8th. Charles Schwab’s dividend payout ratio is 24.84%.

TRADEMARK VIOLATION WARNING: This piece was first posted by Markets Daily and is the property of of Markets Daily. If you are viewing this piece on another publication, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark legislation. The original version of this piece can be viewed at https://www.themarketsdaily.com/2018/02/15/charles-schwab-corp-schw-position-lifted-by-daiwa-securities-group-inc.html.

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.

Want to see what other hedge funds are holding SCHW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Charles Schwab Corp (NYSE:SCHW).

Institutional Ownership by Quarter for Charles Schwab (NYSE:SCHW)

Receive News & Ratings for Charles Schwab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Charles Schwab and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply