Geode Capital Management LLC Has $1.95 Billion Stake in The Charles Schwab Co. (NYSE:SCHW)

Geode Capital Management LLC raised its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 1.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 30,141,441 shares of the financial services provider’s stock after acquiring an additional 445,304 shares during the period. Geode Capital Management LLC’s holdings in Charles Schwab were worth $1,945,614,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SCHW. Capital Performance Advisors LLP acquired a new stake in shares of Charles Schwab in the third quarter valued at approximately $25,000. Washington Trust Advisors Inc. grew its holdings in Charles Schwab by 62.6% during the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 149 shares during the period. American Capital Advisory LLC acquired a new stake in Charles Schwab during the 2nd quarter worth $27,000. Mizuho Securities Co. Ltd. acquired a new stake in Charles Schwab during the 2nd quarter worth $29,000. Finally, Prospera Private Wealth LLC acquired a new stake in Charles Schwab during the 3rd quarter worth $31,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Transactions at Charles Schwab

In other news, insider Jonathan S. Beatty sold 2,500 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $77.02, for a total transaction of $192,550.00. Following the completion of the transaction, the insider now directly owns 18,069 shares in the company, valued at $1,391,674.38. This represents a 12.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Nigel J. Murtagh sold 12,739 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $81.17, for a total transaction of $1,034,024.63. Following the transaction, the insider now owns 59,092 shares of the company’s stock, valued at approximately $4,796,497.64. This represents a 17.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 127,968 shares of company stock worth $9,419,271 in the last three months. Insiders own 6.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SCHW shares. Citigroup lowered their target price on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a report on Friday, September 27th. Wells Fargo & Company lifted their price target on shares of Charles Schwab from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Jefferies Financial Group raised their price objective on Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday. JPMorgan Chase & Co. boosted their target price on Charles Schwab from $86.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Charles Schwab from $77.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $78.81.

Charles Schwab Price Performance

Shares of SCHW opened at $82.35 on Wednesday. The company has a 50 day moving average of $74.41 and a 200-day moving average of $70.16. 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 stock has a market capitalization of $146.56 billion, a P/E ratio of 32.17, a P/E/G ratio of 1.77 and a beta of 0.96. The Charles Schwab Co. has a twelve month low of $59.67 and a twelve month high of $83.35.

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter last year, the firm earned $0.77 earnings per share. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, equities research analysts forecast that The Charles Schwab Co. will post 3.12 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.21%. Charles Schwab’s dividend payout ratio is 39.06%.

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.