Jacobs & Co. CA reduced its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 2.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 167,106 shares of the financial services provider’s stock after selling 4,066 shares during the quarter. The Charles Schwab comprises about 1.3% of Jacobs & Co. CA’s investment portfolio, making the stock its 28th biggest position. Jacobs & Co. CA’s holdings in The Charles Schwab were worth $10,892,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently modified their holdings of the company. Joseph P. Lucia & Associates LLC bought a new stake in The Charles Schwab during the fourth quarter worth approximately $26,000. IronBridge Private Wealth LLC bought a new position in shares of The Charles Schwab during the fourth quarter valued at approximately $27,000. Harvest Fund Management Co. Ltd bought a new position in shares of The Charles Schwab during the fourth quarter valued at approximately $35,000. SOA Wealth Advisors LLC. bought a new position in shares of The Charles Schwab during the fourth quarter valued at approximately $38,000. Finally, Liberty Wealth Management LLC grew its stake in shares of The Charles Schwab by 37.6% during 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 during the last quarter. 77.47% of the stock is currently owned by institutional investors.
In other news, EVP Bernard J. Clark sold 29,976 shares of the stock in a transaction on Monday, January 11th. The stock was sold at an average price of $60.01, for a total transaction of $1,798,859.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jonathan M. Craig sold 2,241 shares of the stock in a transaction on 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. In the last quarter, insiders have sold 1,372,113 shares of company stock valued at $81,135,176. Company insiders own 10.80% of the company’s stock.
The Charles Schwab (NYSE:SCHW) last posted its earnings results on Monday, January 18th. The financial services provider reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.04. The company had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.07 billion. The Charles Schwab had a return on equity of 13.52% and a net margin of 29.80%. The Charles Schwab’s revenue was up 60.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.63 earnings per share. Sell-side analysts predict that The Charles Schwab Co. will post 2.39 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, February 26th. Shareholders of record on Friday, February 12th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, February 11th. This represents a $0.72 dividend on an annualized basis and a yield of 1.08%. The Charles Schwab’s dividend payout ratio is currently 26.47%.
SCHW has been the topic of a number of analyst reports. JPMorgan Chase & Co. initiated coverage on The Charles Schwab in a research note on Thursday, March 4th. They set an “overweight” rating on the stock. Deutsche Bank Aktiengesellschaft upped their target price on The Charles Schwab from $73.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, February 3rd. Morgan Stanley upped their target price on The Charles Schwab from $76.00 to $83.00 and gave the company an “overweight” rating in a research note on Wednesday, March 31st. Credit Suisse Group increased their price objective on The Charles Schwab from $60.00 to $61.00 and gave the stock a “neutral” rating in a research note on Thursday, February 4th. Finally, Zacks Investment Research raised The Charles Schwab from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a research note on Tuesday. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The Charles Schwab presently has a consensus 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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