NorthCrest Asset Manangement LLC Has $1.12 Million Holdings in The Charles Schwab Co. (NYSE:SCHW)

NorthCrest Asset Manangement LLC reduced its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 2.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 15,188 shares of the financial services provider’s stock after selling 406 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Charles Schwab were worth $1,124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of SCHW. Norges Bank acquired a new position in Charles Schwab during the 4th quarter valued at $1,289,544,000. Kovitz Investment Group Partners LLC boosted its stake in Charles Schwab by 354.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 11,005,881 shares of the financial services provider’s stock worth $814,545,000 after buying an additional 8,584,173 shares in the last quarter. FMR LLC boosted its stake in Charles Schwab by 69.4% during the fourth quarter. FMR LLC now owns 9,700,013 shares of the financial services provider’s stock worth $717,898,000 after buying an additional 3,974,940 shares in the last quarter. Marshall Wace LLP boosted its stake in Charles Schwab by 742.0% during the fourth quarter. Marshall Wace LLP now owns 4,181,202 shares of the financial services provider’s stock worth $309,451,000 after buying an additional 3,684,640 shares in the last quarter. Finally, Primecap Management Co. CA boosted its stake in Charles Schwab by 310.3% during the fourth quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider’s stock worth $314,716,000 after buying an additional 3,216,000 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Charles Schwab Stock Performance

Charles Schwab stock opened at $87.65 on Friday. The stock has a 50-day simple moving average of $80.68 and a 200 day simple moving average of $79.30. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $89.85. The stock has a market capitalization of $159.25 billion, a price-to-earnings ratio of 29.31, a P/E/G ratio of 0.99 and a beta of 0.90.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03. The business had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.46 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. During the same period in the previous year, the business posted $0.74 earnings per share. On average, research analysts anticipate that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.08 annualized dividend and a yield of 1.23%. Charles Schwab’s dividend payout ratio is currently 32.73%.

Analysts Set New Price Targets

SCHW has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their price target on shares of Charles Schwab from $92.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, April 21st. Morgan Stanley boosted their target price on shares of Charles Schwab from $76.00 to $83.00 and gave the company an “overweight” rating in a research note on Tuesday, May 13th. JMP Securities restated a “market outperform” rating and issued a $94.00 target price on shares of Charles Schwab in a research note on Monday, April 21st. Cowen restated a “buy” rating on shares of Charles Schwab in a research note on Tuesday, May 20th. Finally, TD Cowen upgraded shares of Charles Schwab from a “hold” rating to a “buy” rating and boosted their target price for the company from $88.00 to $103.00 in a research note on Tuesday, February 18th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $89.63.

Insiders Place Their Bets

In other Charles Schwab news, insider Paul V. Woolway sold 3,380 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $79.32, for a total transaction of $268,101.60. Following the completion of the sale, the insider now directly owns 57,818 shares of the company’s stock, valued at approximately $4,586,123.76. The trade was a 5.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Frank C. Herringer sold 3,592 shares of the business’s stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $74.26, for a total value of $266,741.92. Following the sale, the director now directly owns 172,162 shares of the company’s stock, valued at $12,784,750.12. This represents a 2.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 104,735 shares of company stock valued at $8,867,382. 6.30% of the stock is currently owned by insiders.

Charles Schwab Company Profile

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.