Exencial Wealth Advisors LLC lessened its stake in The Charles Schwab Co. (NYSE:SCHW – Get Rating) by 15.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 367,626 shares of the financial services provider’s stock after selling 65,993 shares during the period. Charles Schwab comprises about 1.5% of Exencial Wealth Advisors LLC’s holdings, making the stock its 8th largest holding. Exencial Wealth Advisors LLC’s holdings in Charles Schwab were worth $30,917,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Steph & Co. bought a new position in Charles Schwab during the 4th quarter valued at approximately $25,000. Industrial Alliance Investment Management Inc. bought a new position in Charles Schwab during the 4th quarter valued at approximately $25,000. Horan Securities Inc. bought a new position in Charles Schwab during the 4th quarter valued at approximately $27,000. Sierra Capital LLC bought a new position in Charles Schwab during the 4th quarter valued at approximately $28,000. Finally, Consolidated Planning Corp bought a new position in Charles Schwab during the 3rd quarter valued at approximately $29,000. 87.13% of the stock is owned by institutional investors.
A number of research analysts have weighed in on SCHW shares. The Goldman Sachs Group started coverage on Charles Schwab in a report on Tuesday, April 26th. They set a “neutral” rating and a $75.00 target price on the stock. Jefferies Financial Group reduced their target price on Charles Schwab to $95.00 in a report on Friday, April 22nd. UBS Group reduced their target price on Charles Schwab from $80.00 to $72.00 in a report on Sunday, April 24th. Citigroup upped their target price on Charles Schwab from $87.50 to $90.00 and gave the stock a “buy” rating in a report on Friday, April 22nd. Finally, Argus upped their target price on Charles Schwab from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, January 21st. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $94.25.
Charles Schwab (NYSE:SCHW – Get Rating) last released its quarterly earnings data on Monday, April 18th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.08). The business had revenue of $4.67 billion during the quarter, compared to the consensus estimate of $4.82 billion. Charles Schwab had a net margin of 31.24% and a return on equity of 14.42%. The business’s revenue was down .9% compared to the same quarter last year. During the same period last year, the company posted $0.84 earnings per share. Analysts expect that The Charles Schwab Co. will post 3.88 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 27th. Stockholders of record on Friday, May 13th will be paid a $0.20 dividend. The ex-dividend date is Thursday, May 12th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.22%. Charles Schwab’s dividend payout ratio (DPR) is currently 28.99%.
In other news, CFO Peter B. Crawford sold 3,114 shares of Charles Schwab stock in a transaction on Wednesday, March 16th. The shares were sold at an average price of $87.01, for a total transaction of $270,949.14. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Charles R. Schwab sold 58,140 shares of the company’s stock in a transaction on Thursday, February 17th. The stock was sold at an average price of $86.63, for a total value of $5,036,668.20. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 104,169 shares of company stock valued at $7,081,708 and sold 222,130 shares valued at $19,107,957. Insiders own 7.50% of the company’s stock.
Charles Schwab Profile (Get Rating)
The Charles Schwab Corporation, together with 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, investment advisory, banking and trust, retirement plan, 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 and mutual fund clearing services, as well as compliance solutions.
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