Matisse Capital Has $863,000 Holdings in The Charles Schwab Co. (NYSE:SCHW)

Matisse Capital raised its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 13.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,550 shares of the financial services provider’s stock after acquiring an additional 1,470 shares during the quarter. Matisse Capital’s holdings in Charles Schwab were worth $863,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its holdings in Charles Schwab by 26.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 29,775,952 shares of the financial services provider’s stock worth $1,634,700,000 after purchasing an additional 6,195,934 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Charles Schwab by 186.2% in the third quarter. Ameriprise Financial Inc. now owns 7,107,176 shares of the financial services provider’s stock valued at $390,234,000 after purchasing an additional 4,624,302 shares in the last quarter. Boston Partners raised its holdings in shares of Charles Schwab by 424.7% during the fourth quarter. Boston Partners now owns 4,451,090 shares of the financial services provider’s stock valued at $305,400,000 after purchasing an additional 3,602,830 shares during the period. Van ECK Associates Corp boosted its position in shares of Charles Schwab by 134.3% during the 3rd quarter. Van ECK Associates Corp now owns 5,300,286 shares of the financial services provider’s stock worth $290,986,000 after purchasing an additional 3,038,517 shares in the last quarter. Finally, Lazard Asset Management LLC increased its position in Charles Schwab by 31.1% in the 3rd quarter. Lazard Asset Management LLC now owns 7,247,335 shares of the financial services provider’s stock valued at $397,877,000 after buying an additional 1,717,137 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SCHW has been the topic of a number of research reports. StockNews.com raised Charles Schwab from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Charles Schwab from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Citigroup boosted their price objective on Charles Schwab from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. JPMorgan Chase & Co. increased their price objective on Charles Schwab from $86.00 to $89.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 16th. Finally, Morgan Stanley lifted their target price on Charles Schwab from $65.00 to $71.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, Charles Schwab has an average rating of “Hold” and an average target price of $74.47.

Charles Schwab Stock Performance

NYSE SCHW traded up $0.74 during trading on Friday, hitting $78.78. 6,467,194 shares of the company’s stock traded hands, compared to its average volume of 6,665,524. The stock has a market capitalization of $140.01 billion, a price-to-earnings ratio of 32.96, a PEG ratio of 1.14 and a beta of 0.98. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.42 and a current ratio of 0.42. The business has a 50 day moving average of $72.74 and a 200-day moving average of $66.43. The Charles Schwab Co. has a 12-month low of $48.66 and a 12-month high of $79.22.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Monday, April 15th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. Charles Schwab had a net margin of 26.14% and a return on equity of 19.25%. The business had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.71 billion. As a group, equities research analysts anticipate that The Charles Schwab Co. will post 3.4 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.27%. The ex-dividend date is Thursday, May 9th. Charles Schwab’s dividend payout ratio is presently 41.84%.

Insider Transactions at Charles Schwab

In other news, Chairman Charles R. Schwab sold 65,360 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $76.89, for a total value of $5,025,530.40. Following the transaction, the chairman now owns 60,741,536 shares of the company’s stock, valued at approximately $4,670,416,703.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Jonathan M. Craig sold 4,977 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $70.01, for a total value of $348,439.77. Following the completion of the sale, the insider now owns 81,446 shares of the company’s stock, valued at approximately $5,702,034.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Charles R. Schwab sold 65,360 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $76.89, for a total transaction of $5,025,530.40. Following the transaction, the chairman now directly owns 60,741,536 shares in the company, valued at approximately $4,670,416,703.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 672,036 shares of company stock valued at $49,281,565. 6.60% of the stock is currently owned by company insiders.

About Charles Schwab

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.