Novem Group Has $722,000 Stock Position in The Charles Schwab Corporation (NYSE:SCHW)

Novem Group lifted its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 16.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,219 shares of the financial services provider’s stock after purchasing an additional 1,315 shares during the quarter. Novem Group’s holdings in Charles Schwab were worth $722,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in SCHW. Vanguard Group Inc. increased its holdings in shares of Charles Schwab by 0.9% during 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 acquiring an additional 1,187,384 shares in the last quarter. Geode Capital Management LLC grew its position in Charles Schwab by 2.5% in the 4th 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 purchasing an additional 760,043 shares during the period. Norges Bank bought a new stake in Charles Schwab during the 4th quarter valued at $1,289,544,000. Northern Trust Corp increased its stake in Charles Schwab by 13.4% during the 4th quarter. Northern Trust Corp now owns 15,739,917 shares of the financial services provider’s stock valued at $1,164,911,000 after purchasing an additional 1,864,286 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Charles Schwab by 3.0% during the fourth quarter. Invesco Ltd. now owns 14,842,544 shares of the financial services provider’s stock worth $1,098,497,000 after buying an additional 430,250 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Charles Schwab

In other news, insider Jonathan M. Craig sold 47,500 shares of the firm’s stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $88.46, for a total transaction of $4,201,850.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Paula A. Sneed sold 8,647 shares of the company’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $88.06, for a total transaction of $761,454.82. Following the completion of the transaction, the director owned 105,654 shares of the company’s stock, valued at $9,303,891.24. This trade represents a 7.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 119,905 shares of company stock valued at $10,530,833 in the last ninety days. Insiders own 6.30% of the company’s stock.

Charles Schwab Trading Down 0.2%

NYSE:SCHW opened at $91.20 on Friday. The Charles Schwab Corporation has a 1 year low of $61.01 and a 1 year high of $92.15. The stock’s fifty day moving average price is $87.22 and its two-hundred day moving average price is $80.68. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.53 and a quick ratio of 0.53. The company has a market cap of $165.71 billion, a P/E ratio of 27.64, a P/E/G ratio of 0.98 and a beta of 0.93.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.03. Charles Schwab had a return on equity of 18.31% and a net margin of 31.71%. The firm had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.46 billion. During the same period in the prior year, the business posted $0.74 earnings per share. As a group, analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Friday, May 9th. Charles Schwab’s payout ratio is 32.73%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on SCHW shares. JMP Securities reiterated a “market outperform” rating and set a $94.00 price objective on shares of Charles Schwab in a report on Monday, April 21st. Redburn Atlantic upgraded Charles Schwab from a “sell” rating to a “neutral” rating and lifted their price target for the company from $65.00 to $82.00 in a research note on Monday, June 9th. Keefe, Bruyette & Woods boosted their price objective on Charles Schwab from $90.00 to $93.00 and gave the stock an “outperform” rating in a report on Tuesday, April 22nd. UBS Group increased their price objective on Charles Schwab from $95.00 to $96.00 and gave the stock a “buy” rating in a research note on Tuesday, April 22nd. Finally, Barclays cut their target price on Charles Schwab from $96.00 to $84.00 and set an “overweight” rating on the stock in a research report on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $89.40.

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.