Charles Schwab Co. (NYSE:SCHW) Shares Bought by Nomura Asset Management Co. Ltd.
Nomura Asset Management Co. Ltd. raised its stake in Charles Schwab Co. (NYSE:SCHW) by 10.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 185,771 shares of the financial services provider’s stock after buying an additional 16,860 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Charles Schwab were worth $9,131,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the company. FMR LLC raised its stake in shares of Charles Schwab by 13.7% in the second quarter. FMR LLC now owns 65,193,384 shares of the financial services provider’s stock worth $3,331,382,000 after purchasing an additional 7,868,551 shares during the last quarter. Edgewood Management LLC raised its stake in shares of Charles Schwab by 0.8% in the second quarter. Edgewood Management LLC now owns 21,617,841 shares of the financial services provider’s stock worth $1,104,672,000 after purchasing an additional 169,689 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Charles Schwab by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 12,567,417 shares of the financial services provider’s stock valued at $642,195,000 after acquiring an additional 68,160 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Charles Schwab by 8.4% in the third quarter. Wells Fargo & Company MN now owns 6,690,064 shares of the financial services provider’s stock valued at $328,815,000 after acquiring an additional 518,046 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Charles Schwab by 2.7% in the second quarter. Legal & General Group Plc now owns 5,537,302 shares of the financial services provider’s stock valued at $283,178,000 after acquiring an additional 146,594 shares in the last quarter. 79.51% of the stock is currently owned by institutional investors.
Shares of SCHW stock traded down $1.13 on Friday, reaching $41.47. The company’s stock had a trading volume of 9,476,163 shares, compared to its average volume of 7,824,851. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.29 and a current ratio of 0.29. Charles Schwab Co. has a 12-month low of $41.13 and a 12-month high of $60.22. The company has a market capitalization of $57.53 billion, a PE ratio of 25.29, a price-to-earnings-growth ratio of 1.06 and a beta of 1.45.
The company also recently declared a quarterly dividend, which was paid on Friday, November 23rd. Shareholders of record on Friday, November 9th were given a dividend of $0.13 per share. The ex-dividend date was Thursday, November 8th. This represents a $0.52 dividend on an annualized basis and a yield of 1.25%. Charles Schwab’s payout ratio is 31.71%.
Charles Schwab announced that its board has authorized a stock buyback plan on Thursday, October 25th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 1.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.
SCHW has been the subject of several recent analyst reports. UBS Group lowered Charles Schwab from a “buy” rating to a “neutral” rating in a report on Monday, November 19th. Morgan Stanley set a $70.00 price objective on Charles Schwab and gave the company a “buy” rating in a report on Tuesday, September 18th. Raymond James raised Charles Schwab from a “market perform” rating to an “outperform” rating and set a $54.00 price objective for the company in a report on Tuesday, October 30th. They noted that the move was a valuation call. Citigroup raised Charles Schwab from a “sell” rating to a “neutral” rating and set a $44.08 price objective for the company in a report on Sunday, December 2nd. Finally, Credit Suisse Group reduced their price objective on Charles Schwab from $56.00 to $53.00 and set an “outperform” rating for the company in a report on Friday, October 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $56.94.
In other news, insider Marie A. Chandoha sold 8,424 shares of the firm’s stock in a transaction dated Tuesday, October 16th. The stock was sold at an average price of $48.01, for a total transaction of $404,436.24. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Terri R. Kallsen sold 4,913 shares of the firm’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $46.09, for a total value of $226,440.17. The disclosure for this sale can be found here. Insiders have sold 411,366 shares of company stock worth $19,333,819 in the last 90 days. Company insiders own 11.50% of the company’s stock.
Charles Schwab Profile
The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.
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