47,483 Shares in The Charles Schwab Co. (NYSE:SCHW) Acquired by Allstate Corp

Allstate Corp bought a new stake in shares of The Charles Schwab Co. (NYSE:SCHW) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 47,483 shares of the financial services provider’s stock, valued at approximately $3,514,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Gladstone Institutional Advisory LLC grew its position in Charles Schwab by 2.0% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 6,247 shares of the financial services provider’s stock valued at $462,000 after buying an additional 124 shares during the period. N.E.W. Advisory Services LLC grew its position in shares of Charles Schwab by 1.7% during the 4th quarter. N.E.W. Advisory Services LLC now owns 7,522 shares of the financial services provider’s stock valued at $557,000 after acquiring an additional 125 shares during the period. Klingman & Associates LLC increased its stake in shares of Charles Schwab by 3.2% in the 4th quarter. Klingman & Associates LLC now owns 4,083 shares of the financial services provider’s stock worth $302,000 after purchasing an additional 125 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV raised its holdings in Charles Schwab by 2.7% in the 4th quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 4,763 shares of the financial services provider’s stock worth $353,000 after purchasing an additional 127 shares during the period. Finally, Personal CFO Solutions LLC lifted its position in Charles Schwab by 1.2% during the fourth quarter. Personal CFO Solutions LLC now owns 11,236 shares of the financial services provider’s stock valued at $832,000 after purchasing an additional 130 shares in the last quarter. 84.38% of the stock is owned by institutional investors.

Charles Schwab Trading Down 2.3 %

Shares of SCHW opened at $77.79 on Friday. The stock has a market capitalization of $141.08 billion, a PE ratio of 26.02, a P/E/G ratio of 0.99 and a beta of 0.98. The company’s fifty day moving average is $79.55 and its 200 day moving average is $75.36. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The Charles Schwab Co. has a fifty-two week low of $61.01 and a fifty-two week high of $84.50.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.11. The firm had revenue of $5.33 billion for the quarter, compared to analysts’ expectations of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The business’s revenue was up 19.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.68 EPS. Sell-side analysts expect 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 announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a $0.27 dividend. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.39%. Charles Schwab’s payout ratio is 36.12%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on SCHW shares. JPMorgan Chase & Co. raised their price objective on Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Jefferies Financial Group raised their target price on shares of Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. UBS Group upped their price target on shares of Charles Schwab from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Wells Fargo & Company upgraded shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $89.00 to $93.00 in a research report on Wednesday, January 22nd. Finally, Barclays upped their target price on shares of Charles Schwab from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $86.33.

Insider Activity at Charles Schwab

In other news, Director Arun Sarin sold 8,548 shares of the stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $81.82, for a total value of $699,397.36. Following the sale, the director now directly 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Walter W. Bettinger sold 464,629 shares of the business’s 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 transaction, the chairman now owns 827,377 shares of the company’s stock, valued at approximately $67,770,450.07. The trade was a 35.96 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 509,701 shares of company stock worth $41,641,353. Company insiders own 6.60% of the company’s stock.

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.