Clean Yield Group lessened its stake in Charles Schwab Co. (NYSE:SCHW) by 2.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,890 shares of the financial services provider’s stock after selling 400 shares during the quarter. Clean Yield Group’s holdings in Charles Schwab were worth $708,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Commerzbank Aktiengesellschaft FI grew its stake in Charles Schwab by 79.9% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 19,721 shares of the financial services provider’s stock valued at $938,000 after acquiring an additional 8,757 shares during the period. Manchester Financial Inc. acquired a new position in Charles Schwab in the fourth quarter valued at about $99,000. Huntington National Bank boosted its position in shares of Charles Schwab by 42.1% during the fourth quarter. Huntington National Bank now owns 5,576 shares of the financial services provider’s stock worth $265,000 after buying an additional 1,652 shares during the period. Altium Wealth Management LLC acquired a new position in shares of Charles Schwab during the fourth quarter worth about $298,000. Finally, 180 Wealth Advisors LLC boosted its position in shares of Charles Schwab by 16.5% during the fourth quarter. 180 Wealth Advisors LLC now owns 24,173 shares of the financial services provider’s stock worth $1,139,000 after buying an additional 3,427 shares during the period. Institutional investors and hedge funds own 78.78% of the company’s stock.
In related news, EVP Jonathan M. Craig sold 3,162 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $47.33, for a total transaction of $149,657.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arun Sarin sold 15,000 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $49.11, for a total value of $736,650.00. Following the transaction, the director now directly owns 3,771 shares of the company’s stock, valued at $185,193.81. The disclosure for this sale can be found here. Insiders have sold 349,364 shares of company stock valued at $17,174,848 over the last three months. Insiders own 10.90% of the company’s stock.
Shares of NYSE SCHW opened at $48.34 on Friday. The stock has a 50 day moving average price of $48.54 and a 200 day moving average price of $42.74. Charles Schwab Co. has a 52 week low of $34.58 and a 52 week high of $51.65. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.30 and a current ratio of 0.30. The stock has a market capitalization of $61.99 billion, a PE ratio of 19.73, a price-to-earnings-growth ratio of 3.06 and a beta of 1.39.
Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.62 by $0.01. Charles Schwab had a return on equity of 20.81% and a net margin of 35.12%. The firm had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.60 billion. During the same period in the prior year, the firm posted $0.65 earnings per share. The business’s quarterly revenue was down 3.4% compared to the same quarter last year. As a group, research analysts forecast that Charles Schwab Co. will post 2.73 EPS for the current year.
SCHW has been the subject of several recent research reports. UBS Group raised Charles Schwab from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $35.00 to $50.00 in a research report on Monday, December 2nd. JPMorgan Chase & Co. reduced their price objective on Charles Schwab from $48.00 to $44.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Citigroup upped their price objective on Charles Schwab from $51.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday. Barclays raised Charles Schwab from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $35.00 to $49.00 in a research report on Wednesday, November 27th. Finally, Zacks Investment Research cut Charles Schwab from a “strong-buy” rating to a “hold” rating and set a $58.00 price objective for the company. in a research report on Tuesday, December 17th. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $49.73.
About Charles Schwab
The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through 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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