Zurcher Kantonalbank Zurich Cantonalbank cut its stake in shares of Charles Schwab Co. (NYSE:SCHW) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 257,682 shares of the financial services provider’s stock after selling 1,438 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Charles Schwab were worth $12,255,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Venturi Wealth Management LLC acquired a new stake in Charles Schwab during the third quarter worth approximately $26,000. Winslow Evans & Crocker Inc. increased its holdings in shares of Charles Schwab by 78.0% during the fourth quarter. Winslow Evans & Crocker Inc. now owns 584 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 256 shares during the period. Flagship Harbor Advisors LLC increased its holdings in shares of Charles Schwab by 303.0% during the third quarter. Flagship Harbor Advisors LLC now owns 802 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 603 shares during the period. Gradient Investments LLC increased its holdings in shares of Charles Schwab by 526.2% during the third quarter. Gradient Investments LLC now owns 814 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 684 shares during the period. Finally, Thor Advisors LLC bought a new position in shares of Charles Schwab during the third quarter worth approximately $34,000. Hedge funds and other institutional investors own 78.70% of the company’s stock.
Shares of NYSE:SCHW opened at $48.42 on Friday. The firm has a market cap of $62.74 billion, a PE ratio of 18.13, a price-to-earnings-growth ratio of 2.86 and a beta of 1.39. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.30 and a current ratio of 0.30. Charles Schwab Co. has a 52 week low of $34.58 and a 52 week high of $51.65. The firm’s fifty day moving average is $48.43 and its 200-day moving average is $42.98.
SCHW has been the topic of several recent research reports. UBS Group raised shares of Charles Schwab from a “sell” rating to a “neutral” rating and raised their target price for the stock from $35.00 to $50.00 in a report on Monday, December 2nd. JPMorgan Chase & Co. lowered their target price on shares of Charles Schwab from $48.00 to $44.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Compass Point raised shares of Charles Schwab from a “neutral” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Thursday, December 12th. Citigroup raised their target price on shares of Charles Schwab from $51.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. Finally, Wells Fargo & Co reaffirmed a “hold” rating on shares of Charles Schwab in a report on Tuesday, November 26th. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $49.73.
In other Charles Schwab news, EVP Peter J. Morgan III sold 624 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $49.70, for a total value of $31,012.80. Following the completion of the sale, the executive vice president now directly owns 13,556 shares of the company’s stock, valued at approximately $673,733.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Charles R. Schwab sold 300,000 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $49.01, for a total transaction of $14,703,000.00. The disclosure for this sale can be found here. Insiders have sold 349,364 shares of company stock worth $17,174,848 in the last quarter. Company insiders own 10.90% of the company’s stock.
Charles Schwab Profile
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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