Graypoint LLC makes a new $367,000 investment in The Charles Schwab Co. (NYSE: SCHW)
Graypoint LLC bought a new position in The Charles Schwab Co. (NYSE:SCHW – Get Rating) during Q1, HoldingsChannel reports. The company bought 4,347 shares of the financial services provider, valued at around $367,000.
Other institutional investors and hedge funds have also been buying and selling shares of the company recently. Steph & Co. acquired a new stake in Charles Schwab in the fourth quarter worth $25,000. Industrial Alliance Investment Management Inc. acquired a new stake in Charles Schwab in the fourth quarter worth $25,000. SBK Financial Inc. acquired a new stake in Charles Schwab in the fourth quarter worth $25,000. Horan Securities Inc. acquired a new stake in Charles Schwab in the fourth quarter worth $27,000. Finally, Sierra Capital LLC acquired a new stake in Charles Schwab in the fourth quarter at a value of $28,000. Institutional investors hold 87.13% of the company’s shares.
Separately, CEO Walter W. Bettinger purchased 36,640 shares of the company in a transaction dated Monday, April 25. The stock was purchased at an average price of $69.49 per share, for a total transaction of $2,546,113.60. As a result of the purchase, the CEO now owns 329,265 shares of the company, valued at approximately $22,880,624.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. Additionally, CEO Walter W. Bettinger acquired 63,188 shares of the company in a transaction on Friday, April 29. The shares were acquired at an average price of $67.07 per share, with a total value of $4,238,019.16. Following the purchase, the CEO now directly owns 432,625 shares of the company, valued at $29,016,158.75. Disclosure of this purchase can be found here. Over the past 90 days, insiders have purchased 104,169 shares of the company valued at $7,081,708. 6.90% of the shares are currently held by company insiders.
SCHW shares opened at $63.18 on Friday. The company has a 50-day moving average of $65.72 and a 200-day moving average of $79.07. The Charles Schwab Co. has a one-year low of $59.35 and a one-year high of $96.24. The company has a market capitalization of $114.80 billion, a PE ratio of 22.89, a price-to-earnings growth ratio of 0.74 and a beta of 1.09. The company has a debt ratio of 0.58, a current ratio of 0.44 and a quick ratio of 0.44.
Charles Schwab (NYSE:SCHW – Get Rating) last reported quarterly earnings data on Monday, April 18. The financial services provider reported EPS of $0.77 for the quarter, missing analyst consensus estimates of $0.85 per ($0.08). Charles Schwab had a net margin of 31.24% and a return on equity of 13.67%. The company posted revenue of $4.67 billion in the quarter, versus a consensus estimate of $4.82 billion. During the same period last year, the company achieved EPS of $0.84. The company’s revenue fell 0.9% year-over-year. Analysts expect The Charles Schwab Co. to post earnings per share of 3.88 for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, May 27. Shareholders of record on Friday, May 13 received a dividend of $0.20 per share. This represents a dividend of $0.80 on an annualized basis and a dividend yield of 1.27%. The ex-dividend date was Thursday, May 12. Charles Schwab’s dividend payout ratio is currently 28.99%.
SCHW has been the subject of a number of research analyst reports. The Goldman Sachs Group launched a hedge on Charles Schwab shares in a report on Tuesday, April 26. They set a “neutral” rating and a price target of $75.00 on the stock. JPMorgan Chase & Co. lowered its price target on Charles Schwab shares from $107.00 to $101.00 in a Thursday, April 14 report. Morgan Stanley lowered its price target on shares of Charles Schwab from $132.00 to $123.00 and set an “overweight” rating on the stock in a Monday, April 25 report. Citigroup raised its price target on Charles Schwab shares from $87.50 to $90.00 and gave the stock a “buy” rating in a Friday, April 22 report. Finally, StockNews.com upgraded Charles Schwab’s shares from a “sell” rating to a “hold” rating in a Thursday, May 12 report. Four equity research analysts gave the stock a hold rating and thirteen gave the company a buy rating. Based on data from MarketBeat.com, Charles Schwab has an average rating of “Moderate Buy” and a consensus target price of $92.93.
Profile of Charles Schwab (Get an assessment)
The Charles Schwab Corporation, together with its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custodial and financial advisory services. The Company operates through two segments, Investor Services and Advisory Services. The Investor Services segment provides retail brokerage, investment advisory, banking and trust, pension plan and other corporate brokerage services; equity compensation plan sponsors complete record keeping for equity plans, stock options, restricted stock, performance stock and stock appreciation rights; and clearing services for retail investors and mutual funds, as well as compliance solutions.
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