CIBC Private Wealth Group LLC Has $131.06 Million Stock Position in The Charles Schwab Co. (NYSE:SCHW)

CIBC Private Wealth Group LLC lessened its stake in The Charles Schwab Co. (NYSE:SCHW) by 2.1% in the 4th quarter, HoldingsChannel reports. The fund owned 1,795,392 shares of the financial services provider’s stock after selling 39,233 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Charles Schwab were worth $131,064,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Charles Schwab by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 128,578,230 shares of the financial services provider’s stock valued at $9,516,075,000 after purchasing an additional 1,187,384 shares in the last quarter. State Street Corp increased its stake in shares of Charles Schwab by 0.7% in the 3rd quarter. State Street Corp now owns 62,076,447 shares of the financial services provider’s stock valued at $4,023,175,000 after buying an additional 414,949 shares during the period. Geode Capital Management LLC raised its position in shares of Charles Schwab by 1.5% during the third quarter. Geode Capital Management LLC now owns 30,141,441 shares of the financial services provider’s stock worth $1,945,614,000 after acquiring an additional 445,304 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Charles Schwab by 15.0% during the third quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock valued at $1,644,674,000 after acquiring an additional 3,157,923 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in Charles Schwab by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 20,455,266 shares of the financial services provider’s stock valued at $1,513,894,000 after acquiring an additional 265,708 shares during the last quarter. 84.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Citigroup upped their target price on shares of Charles Schwab from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. JMP Securities restated a “market outperform” rating and issued a $94.00 price objective (up from $84.00) on shares of Charles Schwab in a report on Monday, December 9th. Jefferies Financial Group lifted their target price on shares of Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, December 9th. JPMorgan Chase & Co. raised their price target on Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods upped their price objective on Charles Schwab from $81.00 to $93.00 and gave the company an “outperform” rating in a report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $86.33.

Insider Activity

In other news, General Counsel Peter J. Morgan III sold 14,643 shares of Charles Schwab stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total transaction of $1,181,690.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Walter W. Bettinger sold 464,629 shares of the stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total value of $38,057,761.39. Following the completion of the sale, the chairman now owns 827,377 shares in the company, valued at approximately $67,770,450.07. This trade represents a 35.96 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 509,701 shares of company stock valued at $41,641,353. 6.60% of the stock is owned by insiders.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $77.79 on Friday. The firm has a market cap of $141.08 billion, a PE ratio of 26.02, a PEG ratio of 0.99 and a beta of 0.98. The company has a fifty day moving average price of $79.55 and a 200 day moving average price of $75.36. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $84.50. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data 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. The business had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.68 earnings per share. Research analysts predict that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a dividend of $0.27 per share. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 14th. This represents a $1.08 annualized dividend and a dividend yield of 1.39%. Charles Schwab’s payout ratio is 36.12%.

Charles Schwab 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.