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Gerber Kawasaki Wealth and Investment Management increased its position in Charles Schwab (NYSE:SCHW-Rated) to 38.7% in the third quarter, according to its latest disclosure to the Securities and Exchange Commission (SEC). I pulled it down. The fund owned 6,656 shares of the financial services provider after selling 4,204 shares during the period. Charles Schwab’s assets held by Gerber Kawasaki Wealth and Investment Management were valued at $478,000 as of the latest filing with the Securities and Exchange Commission (SEC).
Several other large investors have also changed their holdings in SCHW. Kingsview Wealth Management LLC increased its stake in Charles Schwab by 11.2% in the third quarter. Kingsview Wealth Management LLC now owns 5,991 shares of the financial services provider worth $431,000 after purchasing an additional 604 of his shares during this period. Mother Group LLC. increased Charles Schwab shares by 8.6% in the third quarter. Mother Group LLC. After purchasing an additional 290 shares during the period, he now owns 3,650 shares of the financial services provider worth $262,000. Meiji Yasuda Life increased its stake in Charles Schwab by 11.9% in the third quarter. Meiji Yasuda Life Insurance Company now owns 63,747 shares in the financial services provider worth $4,581,000 after purchasing an additional 6,793 shares in him during the previous quarter. SeaCrest Wealth Management LLC increased his Charles Schwab stake by 15.0% in the third quarter. SeaCrest Wealth Management LLC now owns 7,761 shares of the financial services provider worth $558,000 after purchasing an additional 1,010 of his shares during this period. Finally, the United Services Automobile Association increased his Charles Schwab holdings by 4.1% in the third quarter. The United Service Automobile Association now owns 57,327 shares of the financial services provider worth $4,120,000 after he purchased an additional 2,284 shares last quarter. Hedge funds and other institutional investors own 73.49% of the company’s shares.
Charles Schwab price performance
The NYSE SCHW opened Monday at $52.61. Charles Schwab Co. has a 12-month low of $52.61 and a 12-month high of $93.16. The company has a 50-day simple moving average of $79.15 and a 200-day simple moving average of $77.20. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt to equity ratio of 0.77. The company has a market cap of $94.25 billion, a P/E ratio of 16.77, a P/E/G ratio of 0.91 and a beta of 0.93.
Charles Schwab (NYSE:SCHW – Get Rating) last reported earnings on Wednesday, January 18. The financial services provider reported that his earnings per share (EPS) for the quarter was $1.07. The business earned him $5.5 billion in the quarter, while analyst estimates put him at $5.55 billion. Charles Schwab had a net profit margin of 34.60% and a return on equity of 24.94%. The company’s quarterly revenue increased he 16.8% year-on-year. His earnings per share for the company in the year-ago quarter were $0.86. Analysts expect Charles Schwab to report his 4.35 EPS for the current financial year.
Charles Schwab increases dividend
The business recently announced a quarterly dividend, which was paid out on Friday, February 24th. A dividend of $0.25 was issued to shareholders of record on Friday, February 10. The ex-dividend date for this dividend was Thursday, February 9. This represents his $1.00 dividend and his 1.90% dividend yield on an annual basis. This is up from Charles Schwab’s previous quarterly dividend of $0.22. Charles Schwab’s Dividend Payout Ratio (DPR) is currently 28.57%.
Insider activity
In related news, Director Charles A. Ruffel sold 5,176 shares in a transaction that took place on Thursday, February 16th. The shares sold for an average of $80.88 for a total of $418,634.88. After the transaction, the directors now own 12,073 shares of the company’s stock valued at approximately $976,464.24. The sale was disclosed in his SEC filings available at this link. In other Charles Schwab news, director Charles A. Raffel sold his 5,176 shares of Charles Schwab stock in a transaction on Thursday, February 16. The shares sold for an average of $80.88, and the total trading value he had was $418,634.88. Following the closing of the transaction, the Directors now own 12,073 shares of the Company’s stock valued at approximately $976,464.24. The transaction was disclosed in documents filed with the Securities and Exchange Commission and can be accessed at this link. Chairman Charles R. Schwab also sold 188,670 shares of the company in a transaction on Monday, February 6. The shares were sold at an average price of $80.07 for a total of $15,106,806.90. Following the completion of the sale, the Chairman now owns 30,856,646 of his shares valued at approximately $2,470,691,645.22. Please see here for the disclosure of this sale. The insider said that in the past 90 days he has sold 728,106 shares of company stock worth $58,067,403. His 6.90% of shares are now owned by insiders.
Wall Street Analyst Predicts Growth
Recently, many brokerage firms have commented on SCHW. Keefe, Bruyette & Woods raised its price target on Charles Schwab’s stock from his $88.00 to his $94.00 in a research report on Thursday, January 12, giving it an “outperform” rating. Citigroup raised its rating on Charles Schwab from “neutral” to “buy” and lowered its target price to $75.00 from $83.00 in a research report on Monday. Credit Suisse Group lowered its price target on Charles Schwab from $87.00 to $81.50 in its Monday, January 30 research notes, giving it a “neutral” rating. Deutsche Bank Aktiengesellschaft lowered its price target for Charles’ Schwab shares to $107.00 from his $120.00 in a research note on Monday, January 30. Finally, William Blair reissued an “outperform” rating for Charles Schwab stock in his Tuesday, January 17 research report. One investment analyst gave the stock a sell rating, four issued a hold rating, and 12 issued a buy rating. According to MarketBeat, Charles Schwab’s current average rating is “moderate buy” and his average target price is $90.50.
Charles Schwab Company Profile
(get rating)
Charles Schwab Corp. is a savings and loan holding company engaged in providing wealth management, brokerage, banking, wealth management, custody and financial advisory services. It operates through its Investor Services and Advisor Services segments. The Investor Services segment includes retail brokerage and banking services for individual investors, retirement plan services for companies and their employees, and other corporate brokerage services.
References
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