Mackenzie Financial Corp Has $34.39 Million Stake in The Charles Schwab Co. (NYSE:SCHW)

Mackenzie Financial Corp raised its holdings in The Charles Schwab Co. (NYSE:SCHW) by 0.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 499,900 shares of the financial services provider’s stock after buying an additional 2,079 shares during the period. Mackenzie Financial Corp’s holdings in Charles Schwab were worth $34,393,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SCHW. Massachusetts Financial Services Co. MA grew its position in shares of Charles Schwab by 26.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 29,775,952 shares of the financial services provider’s stock valued at $1,634,700,000 after acquiring an additional 6,195,934 shares during the period. Geode Capital Management LLC grew its position in shares of Charles Schwab by 1.5% in the 1st quarter. Geode Capital Management LLC now owns 27,050,168 shares of the financial services provider’s stock valued at $1,413,244,000 after acquiring an additional 391,238 shares during the period. Morgan Stanley grew its position in shares of Charles Schwab by 62.5% in the 4th quarter. Morgan Stanley now owns 22,255,649 shares of the financial services provider’s stock valued at $1,853,005,000 after acquiring an additional 8,563,389 shares during the period. Norges Bank bought a new position in shares of Charles Schwab in the 4th quarter valued at about $1,325,555,000. Finally, Invesco Ltd. grew its position in shares of Charles Schwab by 3.3% in the 3rd quarter. Invesco Ltd. now owns 15,560,924 shares of the financial services provider’s stock valued at $854,295,000 after acquiring an additional 502,304 shares during the period. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SCHW. Barclays lifted their price objective on shares of Charles Schwab from $74.00 to $75.00 and gave the company an “equal weight” rating in a research report on Tuesday. StockNews.com raised shares of Charles Schwab from a “sell” rating to a “hold” rating in a report on Friday, March 15th. JPMorgan Chase & Co. lifted their target price on shares of Charles Schwab from $86.00 to $89.00 and gave the stock an “overweight” rating in a report on Tuesday. Bank of America lifted their target price on shares of Charles Schwab from $68.00 to $70.00 and gave the stock an “underperform” rating in a report on Tuesday. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $71.00 target price (up previously from $70.00) on shares of Charles Schwab in a report on Wednesday, January 3rd. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $74.47.

Charles Schwab Price Performance

SCHW stock opened at $72.50 on Thursday. The company has a 50 day simple moving average of $68.17 and a 200 day simple moving average of $62.82. The stock has a market cap of $128.76 billion, a price-to-earnings ratio of 30.33, a P/E/G ratio of 1.10 and a beta of 1.01. The Charles Schwab Co. has a 1 year low of $45.65 and a 1 year high of $73.88. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.43 and a quick ratio of 0.43.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Wednesday, January 17th. The financial services provider reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. Charles Schwab had a net margin of 26.14% and a return on equity of 19.86%. The firm had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.49 billion. During the same period in the previous year, the firm posted $1.07 EPS. The company’s revenue for the quarter was down 18.9% compared to the same quarter last year. Research analysts anticipate that The Charles Schwab Co. will post 3.41 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date was Thursday, February 8th. Charles Schwab’s payout ratio is 41.84%.

Insiders Place Their Bets

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $70.87, for a total value of $637,830.00. Following the sale, the director now directly owns 581,457 shares of the company’s stock, valued at approximately $41,207,857.59. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $70.87, for a total transaction of $637,830.00. Following the transaction, the director now owns 581,457 shares in the company, valued at $41,207,857.59. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Nigel J. Murtagh sold 29,991 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $67.80, for a total transaction of $2,033,389.80. Following the transaction, the insider now owns 81,446 shares in the company, valued at approximately $5,522,038.80. The disclosure for this sale can be found here. Insiders have sold 216,584 shares of company stock valued at $14,200,769 in the last ninety days. 6.60% of the stock is currently owned by insiders.

Charles Schwab Company Profile

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.