New York Life Investment Management LLC Has $14.86 Million Stock Position in The Charles Schwab Co. (NYSE:SCHW)

New York Life Investment Management LLC raised its holdings in The Charles Schwab Co. (NYSE:SCHW) by 0.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 200,835 shares of the financial services provider’s stock after purchasing an additional 1,693 shares during the quarter. New York Life Investment Management LLC’s holdings in Charles Schwab were worth $14,864,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Washington Trust Advisors Inc. increased its position in Charles Schwab by 62.6% during the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 149 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Charles Schwab during the third quarter worth $25,000. Prospera Private Wealth LLC acquired a new position in shares of Charles Schwab during the third quarter worth $31,000. Hazlett Burt & Watson Inc. acquired a new stake in shares of Charles Schwab during the 3rd quarter valued at $33,000. Finally, Planning Capital Management Corp bought a new stake in Charles Schwab during the 3rd quarter worth $33,000. Institutional investors own 84.38% of the company’s stock.

Insiders Place Their Bets

In other news, Director Arun Sarin sold 8,548 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $81.82, for a total value of $699,397.36. Following the transaction, the director now owns 18,617 shares in the company, valued at $1,523,242.94. This trade represents a 31.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the company’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total value of $1,181,690.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 487,820 shares of company stock worth $39,938,849. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Price Performance

Charles Schwab stock opened at $78.53 on Friday. The stock’s 50 day moving average price is $78.27 and its two-hundred day moving average price is $73.41. The stock has a market capitalization of $139.87 billion, a price-to-earnings ratio of 26.26, a PEG ratio of 0.99 and a beta of 0.99. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The Charles Schwab Co. has a 52-week low of $61.01 and a 52-week high of $84.50.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The business had revenue of $5.33 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same period last year, the company posted $0.68 earnings per share. The business’s quarterly revenue was up 19.5% on a year-over-year basis. On average, equities analysts predict that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a dividend of $0.27 per share. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Friday, February 14th. Charles Schwab’s dividend payout ratio is 36.12%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SCHW. Barclays lifted their price target on Charles Schwab from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Citigroup lifted their target price on shares of Charles Schwab from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Morgan Stanley upped their price target on shares of Charles Schwab from $84.00 to $91.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods increased their price objective on Charles Schwab from $81.00 to $93.00 and gave the company an “outperform” rating in a report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $86.33.

About Charles Schwab

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.