Pacific Heights Asset Management LLC Has $16,259,000 Holding in Charles Schwab Corporation (SCHW)

Pacific Heights Asset Management LLC Has $16,259,000 Holding in Charles Schwab Corporation (SCHW)

Pacific Heights Asset Management LLC held its position in The Charles Schwab Corporation (NYSE:SCHW) during the third quarter, Holdings Channel reports. The institutional investor owned 515,000 shares of the company’s stock at the end of the third quarter. The Charles Schwab Corporation comprises 1.4% of Pacific Heights Asset Management LLC’s investment portfolio, making the stock its 21st largest position. Pacific Heights Asset Management LLC’s holdings in The Charles Schwab Corporation were worth $16,259,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. BlackRock Institutional Trust Company N.A. increased its position in The Charles Schwab Corporation by 8.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 32,659,249 shares of the company’s stock worth $826,606,000 after buying an additional 2,620,553 shares in the last quarter. FMR LLC boosted its stake in shares of The Charles Schwab Corporation by 6.8% in the second quarter. FMR LLC now owns 23,322,699 shares of the company’s stock valued at $590,299,000 after buying an additional 1,480,550 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of The Charles Schwab Corporation by 1.6% in the second quarter. Bank of New York Mellon Corp now owns 16,934,039 shares of the company’s stock valued at $428,601,000 after buying an additional 264,001 shares during the period. Davis Selected Advisers boosted its stake in shares of The Charles Schwab Corporation by 13.3% in the second quarter. Davis Selected Advisers now owns 15,544,811 shares of the company’s stock valued at $393,439,000 after buying an additional 1,829,474 shares during the period. Finally, BlackRock Fund Advisors boosted its stake in shares of The Charles Schwab Corporation by 2.7% in the second quarter. BlackRock Fund Advisors now owns 14,798,673 shares of the company’s stock valued at $374,554,000 after buying an additional 391,326 shares during the period. 77.67% of the stock is owned by institutional investors.

Shares of The Charles Schwab Corporation (NYSE:SCHW) opened at 41.24 on Wednesday. The stock has a market cap of $54.67 billion, a PE ratio of 31.48 and a beta of 1.75. The stock has a 50 day moving average of $40.66 and a 200-day moving average of $34.28. The Charles Schwab Corporation has a 52 week low of $21.51 and a 52 week high of $42.61.

The Charles Schwab Corporation (NYSE:SCHW) last issued its earnings results on Wednesday, January 18th. The company reported $0.36 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.36. The firm had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.99 billion. The Charles Schwab Corporation had a return on equity of 14.65% and a net margin of 25.26%. The Charles Schwab Corporation’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.24 earnings per share. Equities research analysts predict that The Charles Schwab Corporation will post $1.63 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 24th. Investors of record on Friday, February 10th will be paid a $0.08 dividend. The ex-dividend date is Wednesday, February 8th. This is an increase from The Charles Schwab Corporation’s previous quarterly dividend of $0.07. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.78%. The Charles Schwab Corporation’s payout ratio is 21.54%.

Several equities analysts have recently issued reports on the stock. Jefferies Group LLC reissued a “buy” rating and issued a $49.00 price target on shares of The Charles Schwab Corporation in a report on Sunday, January 8th. Sandler O’Neill reaffirmed a “buy” rating and issued a $45.00 target price on shares of The Charles Schwab Corporation in a report on Monday, December 19th. SunTrust Banks, Inc. upgraded shares of The Charles Schwab Corporation from a “hold” rating to a “buy” rating and increased their target price for the stock from $33.00 to $44.00 in a research report on Monday, December 19th. Morgan Stanley reiterated an “overweight” rating on shares of The Charles Schwab Corporation in a research report on Saturday, December 17th. Finally, Zacks Investment Research upgraded shares of The Charles Schwab Corporation from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research report on Friday, December 16th. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The Charles Schwab Corporation has an average rating of “Buy” and a consensus target price of $37.14.

In other news, insider Walter W. Bettinger sold 34,233 shares of the company’s stock in a transaction on Wednesday, November 23rd. The stock was sold at an average price of $39.21, for a total value of $1,342,275.93. Following the sale, the insider now directly owns 277,892 shares in the company, valued at $10,896,145.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Walter W. Bettinger sold 627,996 shares of the stock in a transaction dated Thursday, January 5th. The shares were sold at an average price of $40.91, for a total value of $25,691,316.36. Following the completion of the transaction, the insider now directly owns 603,059 shares of the company’s stock, valued at approximately $24,671,143.69. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,442,437 shares of company stock worth $94,548,843. Company insiders own 12.60% of the company’s stock.

The Charles Schwab Corporation Company Profile

The Charles Schwab Corporation is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.

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