Warren Averett Asset Management LLC Purchased $651,000 in Charles Schwab Corp (SCHW)

Warren Averett Asset Management LLC Purchased $651,000 in Charles Schwab Corp (SCHW)

Warren Averett Asset Management LLC bought a new position in Charles Schwab Corp (NYSE:SCHW) during the first quarter, according to its most recent filing with the SEC. The fund bought 15,941 shares of the financial services provider’s stock, valued at approximately $651,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Dodge & Cox bought a new stake in Charles Schwab Corp during the fourth quarter valued at approximately $3,813,732,000. State Street Corp boosted its position in Charles Schwab Corp by 7.3% in the fourth quarter. State Street Corp now owns 61,155,943 shares of the financial services provider’s stock valued at $2,413,822,000 after buying an additional 4,153,309 shares during the last quarter. FMR LLC boosted its position in Charles Schwab Corp by 2.5% in the fourth quarter. FMR LLC now owns 23,378,291 shares of the financial services provider’s stock valued at $922,741,000 after buying an additional 571,876 shares during the last quarter. Parnassus Investments CA boosted its position in Charles Schwab Corp by 7.7% in the third quarter. Parnassus Investments CA now owns 22,058,864 shares of the financial services provider’s stock valued at $696,398,000 after buying an additional 1,574,908 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Charles Schwab Corp by 191.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 16,620,867 shares of the financial services provider’s stock valued at $524,721,000 after buying an additional 10,912,905 shares during the last quarter. Hedge funds and other institutional investors own 78.34% of the company’s stock.

Shares of Charles Schwab Corp (SCHW) opened at 38.95 on Monday. The stock’s 50 day moving average price is $39.32 and its 200-day moving average price is $40.13. Charles Schwab Corp has a 12 month low of $23.83 and a 12 month high of $43.65. The firm has a market capitalization of $52.08 billion, a price-to-earnings ratio of 27.62 and a beta of 1.78.

Charles Schwab Corp (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, April 18th. The financial services provider reported $0.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.02. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.06 billion. Charles Schwab Corp had a return on equity of 14.65% and a net margin of 25.26%. The firm’s revenue was up 18.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.29 EPS. On average, equities research analysts predict that Charles Schwab Corp will post $1.62 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, May 26th. Shareholders of record on Friday, May 12th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.82%. The ex-dividend date was Wednesday, May 10th. Charles Schwab Corp’s dividend payout ratio is 24.62%.

SCHW has been the subject of several research analyst reports. Bank of America Corp reiterated a “buy” rating and issued a $47.00 price objective on shares of Charles Schwab Corp in a research report on Friday, March 3rd. Zacks Investment Research cut Charles Schwab Corp from a “buy” rating to a “hold” rating in a research report on Wednesday, February 8th. Citigroup Inc restated a “buy” rating and issued a $43.00 price target (down previously from $45.00) on shares of Charles Schwab Corp in a research report on Saturday, April 22nd. SunTrust Banks, Inc. raised their price target on Charles Schwab Corp from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, March 14th. Finally, Keefe, Bruyette & Woods set a $44.00 price target on Charles Schwab Corp and gave the company a “buy” rating in a research report on Monday, April 10th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Charles Schwab Corp currently has a consensus rating of “Buy” and an average price target of $41.75.

In other news, EVP Bernard J. Clark sold 5,038 shares of the firm’s stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $42.20, for a total value of $212,603.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Walter W. Bettinger sold 15,056 shares of the firm’s stock in a transaction dated Wednesday, April 19th. The shares were sold at an average price of $38.57, for a total value of $580,709.92. Following the completion of the transaction, the insider now owns 277,464 shares of the company’s stock, valued at approximately $10,701,786.48. The disclosure for this sale can be found here. Insiders sold a total of 378,082 shares of company stock worth $15,188,662 in the last three months. Company insiders own 12.60% of the company’s stock.

About Charles Schwab Corp

The Charles Schwab Corporation (CSC) 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “SCHW”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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