Coronation Fund Managers Ltd. Grows Position in The Charles Schwab Co. (NYSE:SCHW)

Coronation Fund Managers Ltd. boosted its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 3.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 507,190 shares of the financial services provider’s stock after buying an additional 17,175 shares during the quarter. Charles Schwab makes up about 2.2% of Coronation Fund Managers Ltd.’s holdings, making the stock its 17th biggest holding. Coronation Fund Managers Ltd.’s holdings in Charles Schwab were worth $37,537,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Washington Trust Advisors Inc. grew its position in shares of Charles Schwab by 62.6% in the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after buying an additional 149 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in Charles Schwab in the third quarter valued at $25,000. Prospera Private Wealth LLC purchased a new position in Charles Schwab during the 3rd quarter valued at $31,000. Hazlett Burt & Watson Inc. purchased a new position in Charles Schwab during the 3rd quarter valued at $33,000. Finally, Planning Capital Management Corp bought a new position in Charles Schwab in the 3rd quarter worth $33,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Price Performance

Shares of SCHW opened at $83.18 on Monday. The company has a market capitalization of $148.04 billion, a P/E ratio of 27.82, a price-to-earnings-growth ratio of 1.02 and a beta of 0.99. The Charles Schwab Co. has a twelve month low of $61.01 and a twelve month high of $84.04. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The firm has a 50 day moving average of $78.00 and a 200 day moving average of $71.83.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The business had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter last year, the company earned $0.68 EPS. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. As a group, equities research analysts anticipate that The Charles Schwab Co. will post 4.18 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.08 annualized dividend and a yield of 1.30%. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio is currently 33.44%.

Insider Transactions at Charles Schwab

In related news, Director Arun Sarin sold 8,548 shares of the company’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $81.82, for a total transaction of $699,397.36. Following the completion of the sale, the director now owns 18,617 shares in the company, valued at approximately $1,523,242.94. This represents a 31.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total value of $1,181,690.10. The disclosure for this sale can be found here. Insiders sold 47,514 shares of company stock worth $3,859,731 over the last three months. 6.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

SCHW has been the topic of a number of research reports. Redburn Partners cut their target price on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating on the stock in a research note on Friday, January 17th. Bank of America cut their price objective on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 16th. Citigroup increased their target price on Charles Schwab from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Barclays lifted their price target on Charles Schwab from $95.00 to $96.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Finally, The Goldman Sachs Group increased their price objective on Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $84.50.

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.