Investment House LLC Makes New $3.07 Million Investment in The Charles Schwab Co. (NYSE:SCHW)

Investment House LLC bought a new position in The Charles Schwab Co. (NYSE:SCHW) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 44,625 shares of the financial services provider’s stock, valued at approximately $3,070,000.

A number of other hedge funds and other institutional investors have also modified their holdings of SCHW. Massachusetts Financial Services Co. MA grew its holdings in shares of Charles Schwab by 26.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 29,775,952 shares of the financial services provider’s stock worth $1,634,700,000 after purchasing an additional 6,195,934 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Charles Schwab by 186.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 7,107,176 shares of the financial services provider’s stock worth $390,234,000 after purchasing an additional 4,624,302 shares during the period. Van ECK Associates Corp grew its holdings in shares of Charles Schwab by 134.3% during the 3rd quarter. Van ECK Associates Corp now owns 5,300,286 shares of the financial services provider’s stock worth $290,986,000 after purchasing an additional 3,038,517 shares during the period. Lazard Asset Management LLC grew its holdings in shares of Charles Schwab by 31.1% during the 3rd quarter. Lazard Asset Management LLC now owns 7,247,335 shares of the financial services provider’s stock worth $397,877,000 after purchasing an additional 1,717,137 shares during the period. Finally, Los Angeles Capital Management LLC grew its holdings in shares of Charles Schwab by 3,123.9% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,360,400 shares of the financial services provider’s stock worth $74,686,000 after purchasing an additional 1,318,203 shares during the period. 84.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SCHW has been the subject of a number of research analyst reports. TD Cowen raised their target price on Charles Schwab from $87.00 to $92.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. The Goldman Sachs Group restated a “neutral” rating and set a $71.00 target price (up from $70.00) on shares of Charles Schwab in a report on Wednesday, January 3rd. JMP Securities restated a “market outperform” rating and set a $80.00 target price on shares of Charles Schwab in a report on Tuesday, April 16th. Keefe, Bruyette & Woods raised their target price on Charles Schwab from $75.00 to $76.00 and gave the company a “market perform” rating in a report on Tuesday, April 16th. Finally, StockNews.com upgraded Charles Schwab from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Two analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Charles Schwab presently has an average rating of “Hold” and an average price target of $74.47.

Charles Schwab Stock Performance

Shares of SCHW stock traded down $0.26 during midday trading on Monday, hitting $74.73. The company had a trading volume of 2,548,458 shares, compared to its average volume of 7,667,032. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.43 and a quick ratio of 0.43. The Charles Schwab Co. has a 52-week low of $45.65 and a 52-week high of $75.55. The stock has a market cap of $132.72 billion, a price-to-earnings ratio of 31.49, a PEG ratio of 1.10 and a beta of 1.01. The company’s 50 day simple moving average is $69.68 and its 200 day simple moving average is $64.01.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.34%. Charles Schwab’s dividend payout ratio (DPR) is presently 41.84%.

Insider Activity at Charles Schwab

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 24,520 shares of the business’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $72.23, for a total transaction of $1,771,079.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Charles Schwab news, Chairman Charles R. Schwab sold 89,275 shares of the stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $74.62, for a total transaction of $6,661,700.50. Following the transaction, the chairman now owns 30,641,981 shares of the company’s stock, valued at approximately $2,286,504,622.22. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Peter J. Morgan III sold 24,520 shares of the stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $72.23, for a total value of $1,771,079.60. The disclosure for this sale can be found here. Insiders have sold a total of 394,648 shares of company stock worth $27,400,905 over the last three months. 6.60% of the stock is currently owned by corporate insiders.

About Charles Schwab

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.