Everence Capital Management Inc. Grows Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Everence Capital Management Inc. increased its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 10.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,040 shares of the financial services provider’s stock after purchasing an additional 3,260 shares during the quarter. Everence Capital Management Inc.’s holdings in Charles Schwab were worth $2,593,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Versor Investments LP acquired a new position in shares of Charles Schwab during the 2nd quarter worth approximately $512,000. TIAA Trust National Association lifted its position in Charles Schwab by 4.3% during the second quarter. TIAA Trust National Association now owns 22,933 shares of the financial services provider’s stock worth $1,690,000 after buying an additional 950 shares in the last quarter. GPM Growth Investors Inc. acquired a new position in Charles Schwab during the second quarter worth $3,386,000. Stablepoint Partners LLC grew its holdings in Charles Schwab by 7.5% in the 2nd quarter. Stablepoint Partners LLC now owns 11,721 shares of the financial services provider’s stock valued at $864,000 after buying an additional 822 shares in the last quarter. Finally, TD Asset Management Inc increased its stake in shares of Charles Schwab by 3.5% in the 2nd quarter. TD Asset Management Inc now owns 536,906 shares of the financial services provider’s stock worth $39,565,000 after acquiring an additional 18,121 shares during the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SCHW. Bank of America dropped their price objective on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company in a report on Wednesday, October 16th. Cowen raised their price target on shares of Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. Barclays upgraded Charles Schwab from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $74.00 to $95.00 in a report on Monday, December 9th. Wells Fargo & Company raised their target price on Charles Schwab from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Finally, The Goldman Sachs Group upped their price target on Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Charles Schwab has an average rating of “Hold” and a consensus target price of $80.50.

Charles Schwab Stock Up 0.4 %

SCHW traded up $0.27 during trading hours on Friday, hitting $74.11. 1,213,984 shares of the company’s stock were exchanged, compared to its average volume of 3,457,095. The firm has a market cap of $131.89 billion, a P/E ratio of 28.95, a price-to-earnings-growth ratio of 1.76 and a beta of 0.96. The Charles Schwab Co. has a 12-month low of $59.67 and a 12-month high of $83.35. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The firm has a 50 day moving average of $77.35 and a 200 day moving average of $70.63.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The company’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 earnings per share. Analysts predict that The Charles Schwab Co. will post 3.12 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were given a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.35%. Charles Schwab’s dividend payout ratio (DPR) is currently 39.06%.

Insider Buying and Selling

In other news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the business’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $72.16, for a total transaction of $2,150,368.00. Following the completion of the sale, the director now owns 551,329 shares in the company, valued at approximately $39,783,900.64. The trade was a 5.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jonathan S. Beatty sold 2,300 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $82.01, for a total transaction of $188,623.00. Following the completion of the transaction, the insider now directly owns 18,069 shares in the company, valued at $1,481,838.69. This trade represents a 11.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 118,968 shares of company stock worth $8,842,821. Corporate insiders own 6.60% of the company’s stock.

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.