IFM Investors Pty Ltd increased its position in The Charles Schwab Co. (NYSE:SCHW – Get Rating) by 23.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 239,687 shares of the financial services provider’s stock after buying an additional 44,926 shares during the quarter. IFM Investors Pty Ltd’s holdings in Charles Schwab were worth $20,208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently made changes to their positions in SCHW. Commonwealth Equity Services LLC increased its position in Charles Schwab by 19.0% during the 4th quarter. Commonwealth Equity Services LLC now owns 131,553 shares of the financial services provider’s stock valued at $11,063,000 after purchasing an additional 20,965 shares during the period. Sfmg LLC acquired a new stake in Charles Schwab during the 4th quarter valued at approximately $246,000. Desjardins Global Asset Management Inc. acquired a new stake in Charles Schwab during the 4th quarter valued at approximately $430,000. Veracity Capital LLC increased its position in Charles Schwab by 31.4% during the 4th quarter. Veracity Capital LLC now owns 6,950 shares of the financial services provider’s stock valued at $584,000 after purchasing an additional 1,659 shares during the period. Finally, D.A. Davidson & CO. increased its position in Charles Schwab by 25.5% during the 4th quarter. D.A. Davidson & CO. now owns 132,798 shares of the financial services provider’s stock valued at $11,176,000 after purchasing an additional 26,995 shares during the period. Institutional investors and hedge funds own 87.13% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on the company. Citigroup increased their price target on Charles Schwab from $87.50 to $90.00 and gave the stock a “buy” rating in a report on Friday, April 22nd. Jefferies Financial Group cut their price target on Charles Schwab to $95.00 in a report on Friday, April 22nd. Morgan Stanley cut their price target on Charles Schwab from $123.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, July 13th. StockNews.com upgraded Charles Schwab from a “sell” rating to a “hold” rating in a report on Thursday, May 12th. Finally, The Goldman Sachs Group assumed coverage on Charles Schwab in a report on Tuesday, April 26th. They issued a “neutral” rating and a $75.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Charles Schwab presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.25.
Insiders Place Their Bets
Charles Schwab Trading Up 2.0 %
Shares of Charles Schwab stock opened at $69.05 on Monday. The Charles Schwab Co. has a 1 year low of $59.35 and a 1 year high of $96.24. The firm has a market cap of $125.47 billion, a PE ratio of 22.71, a P/E/G ratio of 0.77 and a beta of 1.10. The stock has a fifty day moving average price of $64.29 and a 200-day moving average price of $75.51. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.44 and a quick ratio of 0.44.
Charles Schwab (NYSE:SCHW – Get Rating) last announced its quarterly earnings data on Monday, July 18th. The financial services provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.06. Charles Schwab had a return on equity of 15.86% and a net margin of 33.09%. The company had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.04 billion. During the same quarter last year, the firm posted $0.70 EPS. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. Equities research analysts anticipate that The Charles Schwab Co. will post 3.88 EPS for the current year.
Charles Schwab Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, August 26th. Shareholders of record on Friday, August 12th will be paid a $0.22 dividend. The ex-dividend date is Thursday, August 11th. This represents a $0.88 annualized dividend and a yield of 1.27%. This is an increase from Charles Schwab’s previous quarterly dividend of $0.20. Charles Schwab’s dividend payout ratio (DPR) is currently 26.32%.
About Charles Schwab
The Charles Schwab Corporation, together with its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates in two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage, investment advisory, banking and trust, retirement plan, 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 and mutual fund clearing services, as well as compliance solutions.
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