Rhumbline Advisers Has $241.38 Million Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Rhumbline Advisers raised its holdings in The Charles Schwab Co. (NYSE:SCHW) by 11.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,083,586 shares of the financial services provider’s stock after buying an additional 310,008 shares during the quarter. Rhumbline Advisers owned 0.17% of Charles Schwab worth $241,383,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Charles Schwab by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 128,578,230 shares of the financial services provider’s stock valued at $9,516,075,000 after buying an additional 1,187,384 shares during the period. Geode Capital Management LLC lifted its stake in Charles Schwab by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 30,901,484 shares of the financial services provider’s stock valued at $2,279,742,000 after buying an additional 760,043 shares during the period. Fisher Asset Management LLC lifted its stake in Charles Schwab by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 20,455,266 shares of the financial services provider’s stock valued at $1,513,894,000 after buying an additional 265,708 shares during the period. Norges Bank acquired a new position in Charles Schwab in the fourth quarter valued at approximately $1,289,544,000. Finally, Northern Trust Corp lifted its stake in Charles Schwab by 13.4% in the fourth quarter. Northern Trust Corp now owns 15,739,917 shares of the financial services provider’s stock valued at $1,164,911,000 after buying an additional 1,864,286 shares during the period. 84.38% of the stock is owned by institutional investors and hedge funds.

Charles Schwab Trading Up 0.7%

Shares of Charles Schwab stock opened at $88.35 on Friday. The stock has a fifty day simple moving average of $80.83 and a 200 day simple moving average of $79.38. The Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $89.85. The company has a market capitalization of $160.53 billion, a P/E ratio of 29.55, a price-to-earnings-growth ratio of 0.99 and a beta of 0.90. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59.

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

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were issued a dividend of $0.27 per share. The ex-dividend date was Friday, May 9th. This represents a $1.08 annualized dividend and a yield of 1.22%. Charles Schwab’s dividend payout ratio (DPR) is currently 32.73%.

Insider Buying and Selling

In other Charles Schwab news, insider Paul V. Woolway sold 3,380 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $79.32, for a total value of $268,101.60. Following the transaction, the insider now 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frank C. Herringer sold 3,592 shares of the business’s stock in a transaction on Monday, April 21st. The stock was sold at an average price of $74.26, for a total value of $266,741.92. Following the completion of the transaction, the director now directly owns 172,162 shares in the company, valued at approximately $12,784,750.12. This represents a 2.04% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 104,735 shares of company stock worth $8,867,382. 6.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on SCHW. UBS Group boosted their price target on Charles Schwab from $95.00 to $96.00 and gave the company a “buy” rating in a research note on Tuesday, April 22nd. Keefe, Bruyette & Woods boosted their price objective on Charles Schwab from $90.00 to $93.00 and gave the company an “outperform” rating in a report on Tuesday, April 22nd. Citigroup upgraded Charles Schwab from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $85.00 to $102.00 in a report on Wednesday, April 2nd. TD Securities boosted their price objective on Charles Schwab from $95.00 to $113.00 and gave the company a “buy” rating in a report on Tuesday, May 20th. Finally, JPMorgan Chase & Co. boosted their price objective on Charles Schwab from $92.00 to $95.00 and gave the company an “overweight” rating in a report on Monday, April 21st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $89.63.

Charles Schwab 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.