Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Charles Schwab Co. (NYSE:SCHW) by 9.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 804,350 shares of the financial services provider’s stock after acquiring an additional 72,143 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in Charles Schwab were worth $34,394,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quantamental Technologies LLC bought a new stake in Charles Schwab in the first quarter valued at about $32,000. Laurel Wealth Advisors LLC bought a new stake in Charles Schwab in the fourth quarter valued at about $31,000. Proficio Capital Partners LLC increased its stake in Charles Schwab by 70.2% in the fourth quarter. Proficio Capital Partners LLC now owns 1,028 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 424 shares during the period. Berman Capital Advisors LLC increased its stake in Charles Schwab by 260.7% in the first quarter. Berman Capital Advisors LLC now owns 1,046 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 756 shares during the period. Finally, Spectrum Management Group Inc. increased its stake in Charles Schwab by 44.5% in the first quarter. Spectrum Management Group Inc. now owns 1,071 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 330 shares during the period. 78.96% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Stephen T. Mclin sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $45.59, for a total transaction of $182,360.00. Following the transaction, the director now directly owns 7,592 shares in the company, valued at $346,119.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen T. Mclin sold 4,356 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $43.85, for a total transaction of $191,010.60. Following the transaction, the director now owns 7,592 shares in the company, valued at $332,909.20. The disclosure for this sale can be found here. Insiders have sold 841,576 shares of company stock worth $38,416,671 over the last quarter. 10.90% of the stock is owned by company insiders.

Several analysts have weighed in on the stock. Deutsche Bank decreased their price objective on shares of Charles Schwab from $54.00 to $53.00 and set a “buy” rating on the stock in a research note on Friday, March 15th. Zacks Investment Research raised shares of Charles Schwab from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research note on Wednesday, March 13th. Bank of America set a $50.00 price objective on shares of Charles Schwab and gave the stock a “buy” rating in a research note on Tuesday, April 9th. ValuEngine raised shares of Charles Schwab from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. Finally, Wells Fargo & Co decreased their price objective on shares of Charles Schwab from $48.00 to $47.00 and set a “market perform” rating on the stock in a research note on Friday, April 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. Charles Schwab has an average rating of “Buy” and an average target price of $52.70.

Shares of SCHW stock opened at $41.01 on Monday. Charles Schwab Co. has a 1 year low of $37.83 and a 1 year high of $56.60. The company has a market cap of $54.75 billion, a PE ratio of 16.74, a P/E/G ratio of 1.88 and a beta of 1.35. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.36.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Monday, April 15th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.03. Charles Schwab had a net margin of 35.27% and a return on equity of 20.47%. The company had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same period in the prior year, the business earned $0.55 earnings per share. Charles Schwab’s quarterly revenue was up 13.6% on a year-over-year basis. Research analysts predict that Charles Schwab Co. will post 2.77 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Wednesday, May 15th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.66%. Charles Schwab’s payout ratio is 27.76%.

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Charles Schwab Profile

The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.

Further Reading: Momentum Indicators

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Institutional Ownership by Quarter for Charles Schwab (NYSE:SCHW)

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