Charles Schwab Corp (SCHW) Stake Lessened by Sei Investments Co.
Sei Investments Co. trimmed its holdings in Charles Schwab Corp (NYSE:SCHW) by 9.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,694,628 shares of the financial services provider’s stock after selling 179,182 shares during the quarter. Sei Investments Co.’s holdings in Charles Schwab were worth $87,053,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in SCHW. Bogart Wealth LLC raised its stake in Charles Schwab by 1,100.0% during the 4th quarter. Bogart Wealth LLC now owns 2,040 shares of the financial services provider’s stock worth $105,000 after buying an additional 1,870 shares during the period. Zions Bancorporation raised its stake in Charles Schwab by 1,545.3% during the 3rd quarter. Zions Bancorporation now owns 3,817 shares of the financial services provider’s stock worth $167,000 after buying an additional 3,585 shares during the period. Acadian Asset Management LLC acquired a new position in Charles Schwab during the 4th quarter worth approximately $187,000. Lourd Capital LLC acquired a new position in Charles Schwab during the 4th quarter worth approximately $208,000. Finally, Fiduciary Trust Co. acquired a new position in Charles Schwab during the 4th quarter worth approximately $208,000. 79.47% of the stock is currently owned by institutional investors.
A number of research analysts recently weighed in on the company. Citigroup downgraded Charles Schwab from a “neutral” rating to a “sell” rating and set a $49.00 price target on the stock. in a research note on Wednesday, February 7th. Credit Suisse Group dropped their price target on Charles Schwab from $70.00 to $69.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. Morgan Stanley upped their price target on Charles Schwab from $61.00 to $63.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 30th. Nomura reaffirmed a “neutral” rating and set a $54.00 price target (up from $50.00) on shares of Charles Schwab in a research note on Thursday, January 18th. Finally, JMP Securities downgraded Charles Schwab from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $53.88.
Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. The firm had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.24 billion. Charles Schwab had a return on equity of 16.31% and a net margin of 27.32%. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.36 EPS. sell-side analysts predict that Charles Schwab Corp will post 2.37 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Friday, February 9th will be issued a dividend of $0.10 per share. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date is Thursday, February 8th. Charles Schwab’s payout ratio is currently 24.84%.
In other news, EVP Terri R. Kallsen sold 1,982 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $50.55, for a total value of $100,190.10. Following the completion of the transaction, the executive vice president now directly owns 1,706 shares of the company’s stock, valued at $86,238.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Charles R. Schwab sold 300,000 shares of the company’s stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $55.31, for a total value of $16,593,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,008,944 shares of company stock valued at $101,205,520 over the last three months. Corporate insiders own 12.00% of the company’s stock.
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About Charles Schwab
The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.
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