Covington Capital Management increased its stake in Charles Schwab Corp (NYSE:SCHW) by 1.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 390,688 shares of the financial services provider’s stock after acquiring an additional 5,526 shares during the period. Charles Schwab makes up about 1.2% of Covington Capital Management’s investment portfolio, making the stock its 16th biggest holding. Covington Capital Management’s holdings in Charles Schwab were worth $20,070,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Meadow Creek Investment Management LLC lifted its position in Charles Schwab by 17.2% in the fourth quarter. Meadow Creek Investment Management LLC now owns 29,736 shares of the financial services provider’s stock worth $1,528,000 after buying an additional 4,368 shares during the last quarter. Cornerstone Capital Management Holdings LLC. lifted its position in Charles Schwab by 6.9% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 252,006 shares of the financial services provider’s stock worth $12,945,000 after buying an additional 16,263 shares during the last quarter. Teachers Advisors LLC lifted its position in Charles Schwab by 1.3% in the fourth quarter. Teachers Advisors LLC now owns 2,004,962 shares of the financial services provider’s stock worth $102,995,000 after buying an additional 25,719 shares during the last quarter. Captrust Financial Advisors bought a new stake in Charles Schwab in the fourth quarter worth $324,000. Finally, Raymond James & Associates lifted its position in Charles Schwab by 4.4% in the fourth quarter. Raymond James & Associates now owns 487,661 shares of the financial services provider’s stock worth $25,051,000 after buying an additional 20,522 shares during the last quarter. Institutional investors own 80.60% of the company’s stock.

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A number of brokerages recently issued reports on SCHW. Zacks Investment Research downgraded Charles Schwab from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. Wells Fargo & Co reiterated a “market perform” rating and set a $55.00 target price (up from $47.00) on shares of Charles Schwab in a research report on Thursday, January 4th. SunTrust Banks reiterated a “buy” rating on shares of Charles Schwab in a research report on Wednesday, February 14th. JMP Securities downgraded Charles Schwab from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 3rd. Finally, Nomura reiterated a “neutral” rating and set a $54.00 target price (up from $50.00) on shares of Charles Schwab in a research report on Thursday, January 18th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. Charles Schwab currently has a consensus rating of “Hold” and a consensus price target of $54.64.

Shares of Charles Schwab Corp (NYSE:SCHW) traded down $0.62 during trading on Wednesday, hitting $56.06. The stock had a trading volume of 1,387,176 shares, compared to its average volume of 7,286,041. The stock has a market capitalization of $75,700.00, a price-to-earnings ratio of 34.07, a P/E/G ratio of 1.42 and a beta of 1.58. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.30 and a current ratio of 0.31. Charles Schwab Corp has a 1 year low of $37.16 and a 1 year high of $58.11.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.41 by $0.03. The firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.24 billion. Charles Schwab had a return on equity of 16.03% and a net margin of 27.32%. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.36 earnings per share. research analysts forecast that Charles Schwab Corp will post 2.4 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, February 8th. This represents a $0.40 annualized dividend and a dividend yield of 0.71%. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.08. Charles Schwab’s dividend payout ratio (DPR) is currently 24.24%.

In other news, EVP Terri R. Kallsen sold 2,026 shares of the firm’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $51.30, for a total transaction of $103,933.80. Following the transaction, the executive vice president now owns 1,706 shares in the company, valued at $87,517.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Charles R. Schwab sold 300,000 shares of the firm’s stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $55.31, for a total value of $16,593,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 922,251 shares of company stock worth $50,343,908. Insiders own 12.00% of the company’s stock.

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About Charles Schwab

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.

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Institutional Ownership by Quarter for Charles Schwab (NYSE:SCHW)

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