Fagan Associates Inc. Grows Stock Holdings in The Charles Schwab Corporation (NYSE:SCHW)

Fagan Associates Inc. raised its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 4.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 72,423 shares of the financial services provider’s stock after acquiring an additional 2,795 shares during the period. Fagan Associates Inc.’s holdings in Charles Schwab were worth $5,669,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Charles Schwab in the 4th quarter valued at about $1,289,544,000. Kovitz Investment Group Partners LLC raised its holdings in shares of Charles Schwab by 354.5% during 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 period. FMR LLC raised its holdings in shares of 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 purchasing an additional 3,974,940 shares during the period. Marshall Wace LLP grew its position in Charles Schwab by 742.0% in 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 buying an additional 3,684,640 shares in the last quarter. Finally, PointState Capital LP purchased a new stake in Charles Schwab in the 4th quarter worth about $237,280,000. 84.38% of the stock is currently owned by institutional investors.

Charles Schwab Stock Performance

Charles Schwab stock traded up $0.47 during mid-day trading on Monday, reaching $96.27. 1,007,835 shares of the stock traded hands, compared to its average volume of 10,232,529. The stock has a market capitalization of $174.92 billion, a PE ratio of 25.90, a price-to-earnings-growth ratio of 1.00 and a beta of 0.93. 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 Charles Schwab Corporation has a 12-month low of $61.15 and a 12-month high of $97.50. The business’s 50-day moving average is $89.44 and its 200-day moving average is $82.15.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.04. The business had revenue of $5.85 billion during the quarter, compared to analyst estimates of $5.64 billion. Charles Schwab had a return on equity of 19.73% and a net margin of 33.68%. Charles Schwab’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.73 earnings per share. As a group, sell-side analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were given a dividend of $0.27 per share. The ex-dividend date was Friday, May 9th. This represents a $1.08 dividend on an annualized basis and a yield of 1.12%. Charles Schwab’s dividend payout ratio (DPR) is presently 32.73%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SCHW shares. Barclays reissued an “overweight” rating on shares of Charles Schwab in a research note on Friday. Cowen reiterated a “buy” rating on shares of Charles Schwab in a research report on Tuesday, May 20th. TD Securities upped their target price on Charles Schwab from $95.00 to $113.00 and gave the stock a “buy” rating in a report on Tuesday, May 20th. Citigroup restated an “outperform” rating on shares of Charles Schwab in a report on Monday, July 14th. Finally, JPMorgan Chase & Co. raised their target price on Charles Schwab from $92.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, April 21st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $98.05.

Insider Buying and Selling at Charles Schwab

In other news, insider Paul V. Woolway sold 3,290 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $90.95, for a total value of $299,225.50. Following the sale, the insider directly owned 35,864 shares in the company, valued at approximately $3,261,830.80. This represents a 8.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Nigel J. Murtagh sold 20,872 shares of the stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $90.01, for a total value of $1,878,688.72. Following the completion of the sale, the insider owned 58,999 shares in the company, valued at approximately $5,310,499.99. The trade was a 26.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 116,313 shares of company stock valued at $10,264,091. Corporate insiders own 6.30% of the company’s stock.

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.