The Charles Schwab Co. (NYSE:SCHW) Shares Acquired by InterOcean Capital Group LLC

InterOcean Capital Group LLC grew its stake in The Charles Schwab Co. (NYSE:SCHW) by 22.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 39,344 shares of the financial services provider’s stock after purchasing an additional 7,192 shares during the period. InterOcean Capital Group LLC’s holdings in Charles Schwab were worth $2,707,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of SCHW. Massachusetts Financial Services Co. MA increased its holdings in shares of Charles Schwab by 4.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 30,994,967 shares of the financial services provider’s stock valued at $2,132,454,000 after purchasing an additional 1,219,015 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of Charles Schwab by 1.6% in the 4th quarter. Fisher Asset Management LLC now owns 18,627,667 shares of the financial services provider’s stock valued at $1,281,584,000 after purchasing an additional 296,317 shares in the last quarter. Invesco Ltd. increased its holdings 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 purchasing an additional 502,304 shares in the last quarter. Northern Trust Corp grew its stake in Charles Schwab by 2.3% in the 3rd quarter. Northern Trust Corp now owns 15,550,474 shares of the financial services provider’s stock valued at $853,721,000 after acquiring an additional 356,112 shares during the last quarter. Finally, Norges Bank acquired a new stake in Charles Schwab in the 4th quarter valued at about $950,192,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Charles R. Schwab sold 58,500 shares of Charles Schwab stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $64.60, for a total transaction of $3,779,100.00. Following the transaction, the chairman now owns 61,192,538 shares in the company, valued at approximately $3,953,037,954.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Chairman Charles R. Schwab sold 58,500 shares of Charles Schwab stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $64.60, for a total transaction of $3,779,100.00. Following the transaction, the chairman now owns 61,192,538 shares in the company, valued at approximately $3,953,037,954.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Charles R. Schwab sold 65,360 shares of Charles Schwab stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $76.89, for a total value of $5,025,530.40. Following the transaction, the chairman now owns 60,741,536 shares in the company, valued at approximately $4,670,416,703.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 672,036 shares of company stock worth $49,281,565. Insiders own 6.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SCHW. Morgan Stanley raised their price target on shares of Charles Schwab from $65.00 to $71.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Barclays increased their price objective on shares of Charles Schwab from $74.00 to $75.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 16th. JMP Securities reiterated a “market outperform” rating and set a $80.00 price objective on shares of Charles Schwab in a report on Tuesday, April 16th. Keefe, Bruyette & Woods increased their price objective on shares of Charles Schwab from $75.00 to $76.00 and gave the stock a “market perform” rating in a report on Tuesday, April 16th. Finally, StockNews.com upgraded shares of Charles Schwab from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $74.47.

Charles Schwab Stock Performance

SCHW stock traded down $1.47 during midday trading on Wednesday, hitting $77.43. The stock had a trading volume of 3,104,471 shares, compared to its average volume of 7,434,252. The firm has a market capitalization of $137.61 billion, a price-to-earnings ratio of 32.76, a P/E/G ratio of 1.15 and a beta of 0.98. The Charles Schwab Co. has a 52 week low of $48.66 and a 52 week high of $79.49. The stock has a 50-day simple moving average of $73.23 and a 200 day simple moving average of $66.95. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.69.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Monday, April 15th. The financial services provider reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. Charles Schwab had a return on equity of 19.25% and a net margin of 26.14%. The company had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.71 billion. As a group, equities research analysts anticipate that The Charles Schwab Co. will post 3.4 earnings per share for the current year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date is Thursday, May 9th. Charles Schwab’s dividend payout ratio (DPR) is currently 41.84%.

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.