Renaissance Group LLC Sells 52,370 Shares of Charles Schwab Corp (SCHW)
Renaissance Group LLC decreased its stake in shares of Charles Schwab Corp (NYSE:SCHW) by 6.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 708,897 shares of the financial services provider’s stock after selling 52,370 shares during the period. Charles Schwab accounts for approximately 1.2% of Renaissance Group LLC’s portfolio, making the stock its 16th biggest position. Renaissance Group LLC’s holdings in Charles Schwab were worth $36,416,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Bogart Wealth LLC increased its holdings in Charles Schwab by 1,100.0% during the 4th quarter. Bogart Wealth LLC now owns 2,040 shares of the financial services provider’s stock worth $105,000 after purchasing an additional 1,870 shares during the period. Zions Bancorporation increased its holdings in Charles Schwab by 1,545.3% during the 3rd quarter. Zions Bancorporation now owns 3,817 shares of the financial services provider’s stock worth $167,000 after purchasing an additional 3,585 shares during the period. Acadian Asset Management LLC acquired a new position in shares of Charles Schwab during the 4th quarter worth about $187,000. Lourd Capital LLC acquired a new position in shares of Charles Schwab during the 4th quarter worth about $208,000. Finally, Fiduciary Trust Co. acquired a new position in shares of Charles Schwab during the 4th quarter worth about $208,000. Institutional investors own 79.72% of the company’s stock.
In other Charles Schwab news, Chairman Charles R. Schwab sold 350,000 shares of the stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $44.65, for a total transaction of $15,627,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Marie A. Chandoha sold 56,327 shares of the stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $45.86, for a total value of $2,583,156.22. The disclosure for this sale can be found here. Insiders have sold a total of 2,008,944 shares of company stock valued at $101,205,520 over the last ninety days. 12.00% of the stock is owned by insiders.
Charles Schwab (NYSE:SCHW) last announced its earnings results on Wednesday, January 17th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. The firm had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Charles Schwab had a return on equity of 16.31% and a net margin of 27.32%. The business’s revenue was up 13.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.36 EPS. research analysts anticipate that Charles Schwab Corp will post 2.4 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Friday, February 9th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.81%. This is a boost from Charles Schwab’s previous quarterly dividend of $0.08. The ex-dividend date is Thursday, February 8th. Charles Schwab’s dividend payout ratio (DPR) is presently 19.88%.
SCHW has been the subject of several analyst reports. Zacks Investment Research raised Charles Schwab from a “hold” rating to a “strong-buy” rating and set a $60.00 price objective for the company in a research report on Friday, January 5th. Wells Fargo & Co reaffirmed a “market perform” rating and set a $55.00 price objective (up from $47.00) on shares of Charles Schwab in a research report on Thursday, January 4th. SunTrust Banks reaffirmed a “buy” rating and set a $63.00 price objective (up from $56.00) on shares of Charles Schwab in a research report on Tuesday, December 26th. Credit Suisse Group reaffirmed a “buy” rating and set a $64.00 price objective (up from $55.00) on shares of Charles Schwab in a research report on Friday, January 12th. Finally, Deutsche Bank upped their price objective on Charles Schwab from $46.00 to $47.00 and gave the stock a “hold” rating in a research report on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Charles Schwab has a consensus rating of “Buy” and a consensus target price of $53.88.
Charles Schwab Company Profile
The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.
Want to see what other hedge funds are holding SCHW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Charles Schwab Corp (NYSE:SCHW).
Receive News & Ratings for Charles Schwab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Charles Schwab and related companies with MarketBeat.com's FREE daily email newsletter.