Teachers Retirement System of The State of Kentucky grew its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 16.6% in the 4th quarter, HoldingsChannel reports. The fund owned 119,696 shares of the financial services provider’s stock after purchasing an additional 17,000 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in The Charles Schwab were worth $6,349,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Joseph P. Lucia & Associates LLC acquired a new stake in The Charles Schwab during the fourth quarter worth approximately $26,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of The Charles Schwab in the fourth quarter valued at approximately $35,000. Liberty Wealth Management LLC raised its position in shares of The Charles Schwab by 37.6% in the fourth quarter. Liberty Wealth Management LLC now owns 768 shares of the financial services provider’s stock valued at $41,000 after buying an additional 210 shares in the last quarter. RWM Asset Management LLC acquired a new stake in shares of The Charles Schwab in the fourth quarter valued at approximately $47,000. Finally, Ellevest Inc. raised its position in shares of The Charles Schwab by 624.4% in the fourth quarter. Ellevest Inc. now owns 920 shares of the financial services provider’s stock valued at $49,000 after buying an additional 793 shares in the last quarter. Hedge funds and other institutional investors own 77.47% of the company’s stock.
In related news, Director William S. Haraf sold 7,866 shares of the company’s stock in a transaction dated Tuesday, February 16th. The stock was sold at an average price of $61.25, for a total transaction of $481,792.50. Following the sale, the director now owns 38,838 shares in the company, valued at approximately $2,378,827.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Jonathan M. Craig sold 2,241 shares of the company’s stock in a transaction dated Tuesday, April 6th. The shares were sold at an average price of $67.94, for a total value of $152,253.54. The disclosure for this sale can be found here. Insiders sold a total of 1,372,113 shares of company stock worth $81,135,176 in the last quarter. Corporate insiders own 10.80% of the company’s stock.
The Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Monday, January 18th. The financial services provider reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.04. The Charles Schwab had a return on equity of 13.52% and a net margin of 29.80%. The firm had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.07 billion. During the same quarter in the previous year, the company posted $0.63 EPS. The business’s revenue was up 60.2% on a year-over-year basis. On average, equities research analysts expect that The Charles Schwab Co. will post 2.39 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, February 26th. Shareholders of record on Friday, February 12th were given a $0.18 dividend. The ex-dividend date was Thursday, February 11th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.07%. The Charles Schwab’s dividend payout ratio (DPR) is presently 26.47%.
SCHW has been the subject of a number of analyst reports. Wells Fargo & Company lifted their price target on shares of The Charles Schwab from $60.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, January 20th. The Goldman Sachs Group upgraded shares of The Charles Schwab from a “buy” rating to a “conviction-buy” rating and lifted their price target for the company from $67.00 to $77.00 in a research report on Monday. Zacks Investment Research upgraded shares of The Charles Schwab from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research report on Tuesday. JPMorgan Chase & Co. started coverage on shares of The Charles Schwab in a research report on Thursday, March 4th. They set an “overweight” rating for the company. Finally, Bank of America upgraded shares of The Charles Schwab from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $52.00 to $68.00 in a research report on Tuesday, January 12th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The Charles Schwab currently has an average rating of “Buy” and a consensus target price of $60.07.
The Charles Schwab Company Profile
The Charles Schwab Corporation, through 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 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.
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