AMI Asset Management Corp Purchases 77,163 Shares of The Charles Schwab Co. (NYSE:SCHW)

AMI Asset Management Corp grew its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 7.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,109,909 shares of the financial services provider’s stock after purchasing an additional 77,163 shares during the quarter. Charles Schwab makes up 4.1% of AMI Asset Management Corp’s holdings, making the stock its 4th biggest holding. AMI Asset Management Corp owned approximately 0.06% of Charles Schwab worth $80,291,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its position in shares of Charles Schwab by 33.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 69,360,233 shares of the financial services provider’s stock worth $4,771,985,000 after acquiring an additional 17,369,091 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Charles Schwab by 4.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 30,994,967 shares of the financial services provider’s stock worth $2,132,454,000 after purchasing an additional 1,219,015 shares in the last quarter. Fisher Asset Management LLC increased its holdings in Charles Schwab by 1.6% in the fourth quarter. Fisher Asset Management LLC now owns 18,627,667 shares of the financial services provider’s stock worth $1,281,584,000 after purchasing an additional 296,317 shares in the last quarter. Norges Bank bought a new stake in Charles Schwab in the fourth quarter worth approximately $950,192,000. Finally, Putnam Investments LLC increased its holdings in Charles Schwab by 4.8% in the fourth quarter. Putnam Investments LLC now owns 12,237,705 shares of the financial services provider’s stock worth $841,954,000 after purchasing an additional 560,110 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, Director Mark A. Goldfarb sold 7,100 shares of the company’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $70.86, for a total value of $503,106.00. Following the transaction, the director now directly owns 19,917 shares in the company, valued at approximately $1,411,318.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Bernard J. Clark sold 77,431 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $70.94, for a total value of $5,492,955.14. Following the completion of the transaction, the insider now directly owns 121,666 shares in the company, valued at approximately $8,630,986.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark A. Goldfarb sold 7,100 shares of the company’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $70.86, for a total value of $503,106.00. Following the completion of the transaction, the director now owns 19,917 shares of the company’s stock, valued at $1,411,318.62. The disclosure for this sale can be found here. Insiders have sold a total of 658,663 shares of company stock worth $48,997,146 over the last ninety days. 6.60% of the stock is currently owned by company insiders.

Charles Schwab Stock Performance

SCHW stock traded down $0.02 during midday trading on Thursday, hitting $74.13. The company’s stock had a trading volume of 2,502,054 shares, compared to its average volume of 5,791,087. The stock’s 50-day moving average price is $74.36 and its 200 day moving average price is $69.91. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.69. The Charles Schwab Co. has a 1 year low of $48.66 and a 1 year high of $79.49. The stock has a market cap of $131.75 billion, a price-to-earnings ratio of 31.02, a PEG ratio of 1.15 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Monday, April 15th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.01. The firm had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.71 billion. Charles Schwab had a return on equity of 19.25% and a net margin of 26.14%. On average, equities analysts forecast that The Charles Schwab Co. will post 3.25 EPS for the current year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.35%. Charles Schwab’s payout ratio is presently 41.84%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SCHW shares. JPMorgan Chase & Co. lowered their target price on Charles Schwab from $89.00 to $81.00 and set an “overweight” rating for the company in a report on Friday, May 31st. TD Cowen lowered their target price on Charles Schwab from $92.00 to $88.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. Bank of America lifted their target price on Charles Schwab from $68.00 to $70.00 and gave the stock an “underperform” rating in a report on Tuesday, April 16th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $76.00 price objective on shares of Charles Schwab in a research note on Monday, June 17th. Finally, JMP Securities reissued a “market outperform” rating and issued a $80.00 price objective on shares of Charles Schwab in a research note on Tuesday, May 28th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $75.56.

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.