Sovereign s Capital Management LLC Buys New Shares in The Charles Schwab Co. (NYSE:SCHW)

Sovereign s Capital Management LLC bought a new stake in The Charles Schwab Co. (NYSE:SCHW) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,503 shares of the financial services provider’s stock, valued at approximately $629,000.

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

Insiders Place Their Bets

In other news, insider Paul V. Woolway sold 9,887 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $75.38, for a total value of $745,282.06. Following the completion of the transaction, the insider now owns 47,931 shares of the company’s stock, valued at $3,613,038.78. This represents a 17.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Frank C. Herringer sold 3,592 shares of the company’s stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $74.26, for a total value of $266,741.92. Following the completion of the transaction, the director now directly owns 172,162 shares of the company’s stock, valued at $12,784,750.12. This represents a 2.04% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,412 shares of company stock valued at $3,014,797. 6.30% of the stock is currently owned by corporate insiders.

Charles Schwab Stock Up 0.7%

SCHW stock opened at $88.72 on Monday. The company has a market cap of $161.19 billion, a PE ratio of 29.67, a price-to-earnings-growth ratio of 0.99 and a beta of 0.90. The business has a 50-day simple moving average of $78.76 and a 200 day simple moving average of $78.47. The Charles Schwab Co. has a 52 week low of $61.01 and a 52 week high of $88.87. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, topping the consensus estimate of $1.01 by $0.03. The firm had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.46 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. During the same quarter in the previous year, the firm earned $0.74 earnings per share. Sell-side analysts anticipate that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 9th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Friday, May 9th. Charles Schwab’s payout ratio is 32.73%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SCHW. Morgan Stanley lifted their price objective on shares of Charles Schwab from $76.00 to $83.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 13th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Piper Sandler lifted their price objective on shares of Charles Schwab from $74.00 to $80.00 in a research report on Thursday, April 17th. JPMorgan Chase & Co. lifted their price objective on shares of Charles Schwab from $92.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. Finally, The Goldman Sachs Group raised shares of Charles Schwab from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research report on Friday, April 25th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Charles Schwab presently has a consensus rating of “Moderate Buy” and an average target price of $88.33.

Charles Schwab 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.