Hosking Partners LLP lessened its stake in Charles Schwab Corp (NYSE:SCHW) by 80.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 147,255 shares of the financial services provider’s stock after selling 600,986 shares during the quarter. Hosking Partners LLP’s holdings in Charles Schwab were worth $7,564,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in SCHW. Bogart Wealth LLC grew its stake in Charles Schwab by 1,100.0% in the 4th quarter. Bogart Wealth LLC now owns 2,040 shares of the financial services provider’s stock valued at $105,000 after acquiring an additional 1,870 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Charles Schwab in the 4th quarter valued at about $187,000. Zions Bancorporation grew its stake in Charles Schwab by 1,545.3% in the 3rd quarter. Zions Bancorporation now owns 3,817 shares of the financial services provider’s stock valued at $167,000 after acquiring an additional 3,585 shares during the last quarter. Fiduciary Trust Co. acquired a new stake in Charles Schwab in the 4th quarter valued at about $208,000. Finally, Lourd Capital LLC acquired a new stake in Charles Schwab in the 4th quarter valued at about $208,000. Institutional investors and hedge funds own 79.47% of the company’s stock.
Shares of Charles Schwab Corp (NYSE SCHW) opened at $52.40 on Thursday. Charles Schwab Corp has a 12 month low of $37.16 and a 12 month high of $56.25. The stock has a market cap of $68,570.47, a PE ratio of 31.19, a price-to-earnings-growth ratio of 1.27 and a beta of 1.63. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.21.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Friday, February 9th will be paid a dividend of $0.10 per share. This is a boost from Charles Schwab’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend is Thursday, February 8th. Charles Schwab’s dividend payout ratio (DPR) is currently 24.84%.
In related news, EVP Terri R. Kallsen sold 2,026 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $51.94, for a total value of $105,230.44. Following the sale, the executive vice president now directly owns 1,706 shares of the company’s stock, valued at $88,609.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Bernard J. Clark sold 50,444 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $50.52, for a total transaction of $2,548,430.88. The disclosure for this sale can be found here. Insiders sold 1,658,944 shares of company stock worth $85,578,020 over the last three months. Corporate insiders own 12.00% of the company’s stock.
A number of equities research analysts recently commented on SCHW shares. Zacks Investment Research raised shares of Charles Schwab from a “hold” rating to a “strong-buy” rating and set a $60.00 price objective on the stock in a research note on Friday, January 5th. Wells Fargo & Co reissued a “market perform” rating and issued a $55.00 price objective (up from $47.00) on shares of Charles Schwab in a research note on Thursday, January 4th. SunTrust Banks reissued a “buy” rating and issued a $63.00 price objective (up from $56.00) on shares of Charles Schwab in a research note on Tuesday, December 26th. Credit Suisse Group reissued a “buy” rating and issued a $64.00 price objective (up from $55.00) on shares of Charles Schwab in a research note on Friday, January 12th. Finally, Deutsche Bank increased their price objective on shares of Charles Schwab from $46.00 to $47.00 and gave the company a “hold” rating in a research note on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $53.88.
Charles Schwab Company Profile
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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