United Services Automobile Association decreased its position in The Charles Schwab Corporation (NYSE:SCHW) by 7.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,165,642 shares of the financial services provider’s stock after selling 93,174 shares during the period. United Services Automobile Association owned 0.09% of The Charles Schwab Corporation worth $47,570,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dodge & Cox bought a new position in shares of The Charles Schwab Corporation during the fourth quarter valued at $3,813,732,000. Viking Global Investors LP bought a new position in shares of The Charles Schwab Corporation during the fourth quarter valued at $318,033,000. Findlay Park Partners LLP acquired a new stake in The Charles Schwab Corporation during the first quarter worth $218,669,000. Norges Bank acquired a new stake in The Charles Schwab Corporation during the fourth quarter worth $153,553,000. Finally, Macquarie Group Ltd. increased its stake in The Charles Schwab Corporation by 8,699.5% in the fourth quarter. Macquarie Group Ltd. now owns 2,270,273 shares of the financial services provider’s stock worth $89,608,000 after buying an additional 2,244,473 shares during the period. Hedge funds and other institutional investors own 79.11% of the company’s stock.
Shares of The Charles Schwab Corporation (NYSE SCHW) traded up 2.36% during midday trading on Tuesday, hitting $42.95. The stock had a trading volume of 7,337,777 shares. The firm has a market cap of $57.47 billion, a price-to-earnings ratio of 28.83 and a beta of 1.63. The Charles Schwab Corporation has a 12-month low of $27.71 and a 12-month high of $44.10. The company’s 50-day moving average price is $42.14 and its 200-day moving average price is $40.90.
The Charles Schwab Corporation (NYSE:SCHW) last posted its earnings results on Tuesday, July 18th. The financial services provider reported $0.39 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.39. The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.13 billion. The Charles Schwab Corporation had a net margin of 26.73% and a return on equity of 15.69%. The business’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.30 earnings per share. Equities research analysts forecast that The Charles Schwab Corporation will post $1.61 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Friday, August 11th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.75%. The ex-dividend date is Wednesday, August 9th. The Charles Schwab Corporation’s payout ratio is 21.48%.
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A number of research firms recently weighed in on SCHW. Morgan Stanley restated an “overweight” rating and issued a $51.00 price target (up from $48.00) on shares of The Charles Schwab Corporation in a research note on Tuesday. Nomura downgraded The Charles Schwab Corporation from a “buy” rating to a “neutral” rating in a research note on Monday. Instinet restated a “neutral” rating and issued a $43.00 price target (down from $46.00) on shares of The Charles Schwab Corporation in a research note on Monday. Argus restated a “buy” rating and issued a $48.00 price target (up from $46.00) on shares of The Charles Schwab Corporation in a research note on Friday. Finally, BidaskClub cut The Charles Schwab Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $44.00.
In other The Charles Schwab Corporation news, Chairman Charles R. Schwab sold 300,000 shares of the firm’s stock in a transaction dated Wednesday, April 26th. The shares were sold at an average price of $40.25, for a total transaction of $12,075,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Joseph R. Martinetto sold 89,330 shares of the firm’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $42.51, for a total transaction of $3,797,418.30. Following the transaction, the executive vice president now owns 207,961 shares of the company’s stock, valued at approximately $8,840,422.11. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 524,031 shares of company stock worth $21,538,127. 12.00% of the stock is currently owned by company insiders.
About The Charles Schwab Corporation
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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