Virtus Fund Advisers LLC Cuts Holdings in Charles Schwab Corp (SCHW)
Virtus Fund Advisers LLC cut its holdings in shares of Charles Schwab Corp (NYSE:SCHW) by 2.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 252,013 shares of the financial services provider’s stock after selling 7,265 shares during the period. Virtus Fund Advisers LLC’s holdings in Charles Schwab were worth $12,946,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in SCHW. BlackRock Inc. grew its stake in Charles Schwab by 5.2% in the fourth quarter. BlackRock Inc. now owns 79,858,312 shares of the financial services provider’s stock worth $4,102,323,000 after purchasing an additional 3,943,376 shares in the last quarter. Edgewood Management LLC grew its stake in Charles Schwab by 8.4% in the third quarter. Edgewood Management LLC now owns 20,125,345 shares of the financial services provider’s stock worth $880,283,000 after purchasing an additional 1,559,733 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Charles Schwab by 0.5% in the fourth quarter. Bank of New York Mellon Corp now owns 13,721,562 shares of the financial services provider’s stock worth $704,877,000 after purchasing an additional 65,464 shares in the last quarter. Jackson Square Partners LLC grew its stake in Charles Schwab by 13.8% in the third quarter. Jackson Square Partners LLC now owns 10,807,952 shares of the financial services provider’s stock worth $472,739,000 after purchasing an additional 1,307,627 shares in the last quarter. Finally, Ruane Cunniff & Goldfarb Inc. grew its stake in Charles Schwab by 1.6% in the third quarter. Ruane Cunniff & Goldfarb Inc. now owns 8,348,548 shares of the financial services provider’s stock worth $365,165,000 after purchasing an additional 133,869 shares in the last quarter. Institutional investors own 80.45% of the company’s stock.
In related news, Chairman Charles R. Schwab sold 300,000 shares of the business’s stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $55.31, for a total transaction of $16,593,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Walter W. Bettinger sold 262,309 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $48.15, for a total value of $12,630,178.35. Following the sale, the insider now directly owns 539,773 shares in the company, valued at approximately $25,990,069.95. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,723,394 shares of company stock worth $89,004,177. Corporate insiders own 12.00% of the company’s stock.
Charles Schwab Corp (NYSE SCHW) opened at $52.34 on Wednesday. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.21. Charles Schwab Corp has a 52 week low of $37.16 and a 52 week high of $56.25. The company has a market capitalization of $69,937.85, a P/E ratio of 32.51, a price-to-earnings-growth ratio of 1.29 and a beta of 1.63.
Charles Schwab (NYSE:SCHW) last issued its earnings results on Wednesday, January 17th. The financial services provider reported $0.44 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.03. The company had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.24 billion. Charles Schwab had a return on equity of 16.31% and a net margin of 27.32%. Charles Schwab’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.36 earnings per share. equities research analysts predict that Charles Schwab Corp will post 2.39 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Friday, February 9th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend is Thursday, February 8th. This is a boost from Charles Schwab’s previous quarterly dividend of $0.08. Charles Schwab’s payout ratio is 24.84%.
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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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