Parnassus Investments LLC Purchases 530 Shares of The Charles Schwab Co. (NYSE:SCHW)

Parnassus Investments LLC raised its position in The Charles Schwab Co. (NYSE:SCHW) by 0.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,695,164 shares of the financial services provider’s stock after acquiring an additional 530 shares during the period. Parnassus Investments LLC’s holdings in Charles Schwab were worth $125,459,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Charles Schwab Stock Down 1.0 %

SCHW opened at $73.49 on Friday. The business’s fifty day simple moving average is $78.41 and its 200 day simple moving average is $74.16. The Charles Schwab Co. has a 52 week low of $61.01 and a 52 week high of $84.50. 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 cap of $133.28 billion, a PE ratio of 24.58, a P/E/G ratio of 0.99 and a beta of 0.98.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. The business 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 quarterly revenue was up 19.5% on a year-over-year basis. During the same period last year, the business earned $0.68 earnings per share. As a group, research analysts expect that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio (DPR) is presently 36.12%.

Analyst Ratings Changes

A number of brokerages have issued reports on SCHW. UBS Group boosted their target price on shares of Charles Schwab from $90.00 to $95.00 and gave the company a “buy” rating in a report on Monday, January 27th. JPMorgan Chase & Co. boosted their price objective on Charles Schwab from $87.00 to $93.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods raised their target price on Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a research note on Friday, December 20th. Wells Fargo & Company upgraded Charles Schwab from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $89.00 to $93.00 in a research report on Wednesday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Charles Schwab from $98.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $86.33.

Insiders Place Their Bets

In other news, Chairman Walter W. Bettinger sold 464,629 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the completion of the sale, the chairman now owns 827,377 shares of the company’s stock, valued at approximately $67,770,450.07. This represents a 35.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Arun Sarin sold 8,548 shares of Charles Schwab stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $81.82, for a total transaction of $699,397.36. Following the completion of the transaction, the director now directly owns 18,617 shares in the company, valued at approximately $1,523,242.94. The trade was a 31.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 501,087 shares of company stock valued at $40,952,233 over the last three months. 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.