Lake Street Advisors Group LLC purchased a new stake in shares of Charles Schwab Co. (NYSE:SCHW) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 8,728 shares of the financial services provider’s stock, valued at approximately $448,000.
Other hedge funds have also made changes to their positions in the company. BlackRock Inc. grew its stake in shares of Charles Schwab by 5.2% in the 4th quarter. BlackRock Inc. now owns 79,858,312 shares of the financial services provider’s stock worth $4,102,323,000 after acquiring an additional 3,943,376 shares in the last quarter. Maverick Capital Ltd. bought a new stake in shares of Charles Schwab in the 4th quarter worth $161,834,000. Amundi Pioneer Asset Management Inc. grew its stake in shares of Charles Schwab by 90.2% in the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 4,887,840 shares of the financial services provider’s stock worth $213,794,000 after acquiring an additional 2,318,498 shares in the last quarter. Edgewood Management LLC grew its stake in shares of Charles Schwab by 8.4% in the 3rd quarter. Edgewood Management LLC now owns 20,125,345 shares of the financial services provider’s stock worth $880,283,000 after acquiring an additional 1,559,733 shares in the last quarter. Finally, Atlantic Trust Group LLC grew its stake in shares of Charles Schwab by 851.8% in the 3rd quarter. Atlantic Trust Group LLC now owns 1,492,315 shares of the financial services provider’s stock worth $65,274,000 after acquiring an additional 1,335,522 shares in the last quarter. Institutional investors and hedge funds own 80.54% of the company’s stock.
In other news, Chairman Charles R. Schwab sold 300,000 shares of the stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $55.31, for a total value of $16,593,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Terri R. Kallsen sold 2,026 shares of the stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $51.30, for a total transaction of $103,933.80. Following the completion of the sale, the executive vice president now directly owns 1,706 shares in the company, valued at $87,517.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 922,251 shares of company stock worth $50,343,908. Insiders own 12.00% of the company’s stock.
Shares of SCHW stock opened at $55.97 on Wednesday. The company has a market cap of $74,958.14, a PE ratio of 34.76, a price-to-earnings-growth ratio of 1.36 and a beta of 1.58. Charles Schwab Co. has a fifty-two week low of $37.16 and a fifty-two week high of $58.11. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.30.
Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.03. The business had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.24 billion. Charles Schwab had a net margin of 27.32% and a return on equity of 16.03%. The company’s revenue was up 13.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 earnings per share. equities research analysts anticipate that Charles Schwab Co. will post 2.4 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, February 8th. This is an increase from Charles Schwab’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a yield of 0.71%. Charles Schwab’s dividend payout ratio is 24.84%.
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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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