Keystone Financial Services Has $1.45 Million Position in The Charles Schwab Corporation (NYSE:SCHW)

by · The Cerbat Gem

Keystone Financial Services reduced its holdings in The Charles Schwab Corporation (NYSE:SCHW – Free Report) by 1.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,454 shares of the financial services provider’s stock after selling 231 shares during the period. Charles Schwab makes up about 0.6% of Keystone Financial Services’ investment portfolio, making the stock its 26th biggest position. Keystone Financial Services’ holdings in Charles Schwab were worth $1,445,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SCHW. Norges Bank acquired a new stake in Charles Schwab in the fourth quarter worth $1,289,544,000. Kovitz Investment Group Partners LLC increased its position in shares of Charles Schwab by 354.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 11,005,881 shares of the financial services provider’s stock worth $814,545,000 after acquiring an additional 8,584,173 shares in the last quarter. FMR LLC increased its position in shares of Charles Schwab by 69.4% during the fourth quarter. FMR LLC now owns 9,700,013 shares of the financial services provider’s stock worth $717,898,000 after acquiring an additional 3,974,940 shares in the last quarter. Marshall Wace LLP increased its position in shares of Charles Schwab by 742.0% during the fourth quarter. Marshall Wace LLP now owns 4,181,202 shares of the financial services provider’s stock worth $309,451,000 after acquiring an additional 3,684,640 shares in the last quarter. Finally, Primecap Management Co. CA increased its position in shares of Charles Schwab by 310.3% during the fourth quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider’s stock worth $314,716,000 after acquiring an additional 3,216,000 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Frank C. Herringer sold 3,592 shares of Charles Schwab stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $74.26, for a total transaction of $266,741.92. Following the sale, the director now directly owns 172,162 shares of the company’s stock, valued at approximately $12,784,750.12. The trade was a 2.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul V. Woolway sold 3,380 shares of Charles Schwab stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $77.43, for a total transaction of $261,713.40. Following the sale, the insider now directly owns 45,824 shares in the company, valued at $3,548,152.32. This trade represents a 6.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 119,995 shares of company stock worth $10,493,320. 6.30% of the stock is currently owned by corporate insiders.

Charles Schwab Stock Performance

Shares of SCHW opened at $88.30 on Tuesday. The firm has a 50-day moving average of $85.04 and a 200-day moving average of $80.15. The Charles Schwab Corporation has a one year low of $61.01 and a one year high of $90.60. The company has a market cap of $160.44 billion, a PE ratio of 26.76, a price-to-earnings-growth ratio of 0.95 and a beta of 0.94. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.53 and a quick ratio of 0.53.

Charles Schwab (NYSE:SCHW – Get Free Report) last posted its earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.03. Charles Schwab had a net margin of 31.71% and a return on equity of 18.31%. The company had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.46 billion. During the same quarter last year, the company posted $0.74 EPS. As a group, equities analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.22%. The ex-dividend date was Friday, May 9th. Charles Schwab’s dividend payout ratio (DPR) is 32.73%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Redburn Atlantic raised shares of Charles Schwab from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $65.00 to $82.00 in a research report on Monday, June 9th. TD Securities increased their price objective on shares of Charles Schwab from $95.00 to $113.00 and gave the stock a “buy” rating in a research report on Tuesday, May 20th. JMP Securities reissued a “market outperform” rating and set a $94.00 price objective on shares of Charles Schwab in a research report on Monday, April 21st. Cowen reissued a “buy” rating on shares of Charles Schwab in a research report on Tuesday, May 20th. Finally, Morgan Stanley increased their price objective on shares of Charles Schwab from $76.00 to $83.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 13th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, Charles Schwab has a consensus rating of “Moderate Buy” and a consensus price target of $89.40.

Get Our Latest Research Report on SCHW

About Charles Schwab

(Free Report)

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.

See Also