Moore Capital Management LP Purchases Shares of 615,664 The Charles Schwab Co. (NYSE:SCHW)

Moore Capital Management LP bought a new position in The Charles Schwab Co. (NYSE:SCHW) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 615,664 shares of the financial services provider’s stock, valued at approximately $45,565,000.

Several other hedge funds have also modified their holdings of the stock. Murphy & Mullick Capital Management Corp acquired a new stake in Charles Schwab in the fourth quarter valued at approximately $38,000. Atala Financial Inc bought a new stake in shares of Charles Schwab in the fourth quarter valued at approximately $41,000. Knuff & Co LLC increased its position in Charles Schwab by 1,309.3% during the fourth quarter. Knuff & Co LLC now owns 606 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 563 shares during the period. Financial Life Planners acquired a new position in Charles Schwab during the 4th quarter valued at $46,000. Finally, Whipplewood Advisors LLC acquired a new stake in Charles Schwab in the 4th quarter worth $46,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on SCHW shares. JMP Securities restated a “market outperform” rating and set a $94.00 price target on shares of Charles Schwab in a research note on Monday, April 21st. The Goldman Sachs Group upgraded shares of Charles Schwab from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a research note on Friday, April 25th. Morgan Stanley raised shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and set a $76.00 price objective for the company in a report on Tuesday, April 8th. Redburn Partners lowered their target price on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating on the stock in a research note on Friday, January 17th. Finally, Piper Sandler upped their price objective on Charles Schwab from $74.00 to $80.00 in a research note on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $87.22.

Charles Schwab Price Performance

NYSE:SCHW opened at $84.53 on Monday. The firm has a market cap of $153.30 billion, a price-to-earnings ratio of 28.27, a P/E/G ratio of 0.99 and a beta of 0.90. 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 firm’s 50-day simple moving average is $77.48 and its 200 day simple moving average is $77.92. The Charles Schwab Co. has a 52 week low of $61.01 and a 52 week high of $87.84.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The firm had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.46 billion. During the same quarter last year, the business posted $0.74 earnings per share. As a group, sell-side analysts predict that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 9th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date is Friday, May 9th. Charles Schwab’s payout ratio is 32.73%.

Insider Transactions at Charles Schwab

In other Charles Schwab news, insider Paul V. Woolway sold 3,380 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $79.32, for a total transaction of $268,101.60. Following the completion of the sale, the insider now owns 57,818 shares in the company, valued at approximately $4,586,123.76. The trade was a 5.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Walter W. Bettinger sold 464,629 shares of the company’s stock in a transaction dated 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 in the company, valued at $67,770,450.07. This represents a 35.96% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 503,041 shares of company stock valued at $41,072,558 in the last quarter. 6.30% of the stock is currently owned by company insiders.

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.