11,403 Shares in The Charles Schwab Co. (NYSE:SCHW) Bought by Portside Wealth Group LLC

Portside Wealth Group LLC purchased a new stake in shares of The Charles Schwab Co. (NYSE:SCHW) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 11,403 shares of the financial services provider’s stock, valued at approximately $893,000.

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

Analysts Set New Price Targets

Several analysts have recently commented on SCHW shares. Cowen reiterated a “buy” rating on shares of Charles Schwab in a report on Tuesday, May 20th. Barclays decreased their price objective on shares of Charles Schwab from $96.00 to $84.00 and set an “overweight” rating for the company in a research note on Monday, April 7th. Citigroup upgraded Charles Schwab from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $85.00 to $102.00 in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods upped their target price on Charles Schwab from $90.00 to $93.00 and gave the company an “outperform” rating in a report on Tuesday, April 22nd. Finally, JMP Securities reiterated a “market outperform” rating and set a $94.00 price target on shares of Charles Schwab in a report on Monday, April 21st. Two analysts have rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, Charles Schwab presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.25.

Charles Schwab Stock Performance

NYSE SCHW opened at $88.20 on Tuesday. The firm has a market cap of $160.26 billion, a P/E ratio of 29.50, a price-to-earnings-growth ratio of 0.99 and a beta of 0.94. 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 company’s 50 day moving average is $81.93 and its 200-day moving average is $79.67. The Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $89.85.

Charles Schwab (NYSE:SCHW) last issued its 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. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The business had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.46 billion. During the same quarter in the previous year, the firm posted $0.74 EPS. Sell-side analysts predict that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The business also recently disclosed 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 of this dividend was Friday, May 9th. This represents a $1.08 dividend on an annualized basis and a yield of 1.22%. Charles Schwab’s dividend payout ratio (DPR) is 32.73%.

Insiders Place Their Bets

In related news, Director Frank C. Herringer sold 3,592 shares of the company’s stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $74.26, for a total transaction of $266,741.92. Following the sale, the director now owns 172,162 shares of the company’s stock, valued at approximately $12,784,750.12. This represents a 2.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Paul V. Woolway sold 3,380 shares of the firm’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $77.43, for a total transaction of $261,713.40. Following the completion of the transaction, the insider now directly owns 45,824 shares of the company’s stock, valued at approximately $3,548,152.32. The trade was a 6.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 97,608 shares of company stock worth $8,392,040 in the last quarter. 6.30% of the stock is owned by company insiders.

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.