Wedge Capital Management L L P NC Buys Shares of 2,951 The Charles Schwab Co. (NYSE:SCHW)

Wedge Capital Management L L P NC bought a new position in shares of The Charles Schwab Co. (NYSE:SCHW) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,951 shares of the financial services provider’s stock, valued at approximately $203,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Strategic Blueprint LLC grew its stake in shares of Charles Schwab by 3.5% during the third quarter. Strategic Blueprint LLC now owns 9,423 shares of the financial services provider’s stock worth $517,000 after acquiring an additional 320 shares during the last quarter. CX Institutional increased its position in shares of Charles Schwab by 9.5% in the third quarter. CX Institutional now owns 9,953 shares of the financial services provider’s stock valued at $546,000 after buying an additional 866 shares in the last quarter. Oak Thistle LLC acquired a new position in shares of Charles Schwab during the 3rd quarter worth approximately $233,000. Handelsbanken Fonder AB lifted its position in shares of Charles Schwab by 0.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 404,850 shares of the financial services provider’s stock valued at $22,226,000 after buying an additional 2,621 shares in the last quarter. Finally, Grimes & Company Inc. grew its stake in Charles Schwab by 2.1% in the 3rd quarter. Grimes & Company Inc. now owns 343,432 shares of the financial services provider’s stock valued at $18,854,000 after acquiring an additional 7,160 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Trading Up 0.1 %

NYSE:SCHW opened at $74.99 on Friday. The Charles Schwab Co. has a one year low of $45.65 and a one year high of $75.55. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.43 and a current ratio of 0.43. The stock has a market cap of $133.19 billion, a price-to-earnings ratio of 31.38, a price-to-earnings-growth ratio of 1.10 and a beta of 1.01. The business’s 50-day simple moving average is $69.68 and its 200 day simple moving average is $63.84.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.33%. The ex-dividend date is Thursday, May 9th. Charles Schwab’s dividend payout ratio is currently 41.84%.

Analyst Ratings Changes

SCHW has been the subject of a number of research analyst reports. The Goldman Sachs Group restated a “neutral” rating and set a $71.00 price objective (up from $70.00) on shares of Charles Schwab in a research report on Wednesday, January 3rd. TD Cowen boosted their price objective on Charles Schwab from $87.00 to $92.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Piper Sandler lifted their price target on Charles Schwab from $75.00 to $78.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. Citigroup increased their price objective on Charles Schwab from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Finally, Raymond James decreased their price objective on Charles Schwab from $78.00 to $75.00 and set an “outperform” rating on the stock in a report on Thursday, January 18th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $74.47.

Insider Transactions at Charles Schwab

In other news, CFO Peter B. Crawford sold 5,481 shares of the stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $75.51, for a total transaction of $413,870.31. Following the transaction, the chief financial officer now owns 60,567 shares of the company’s stock, valued at $4,573,414.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Jonathan M. Craig sold 4,977 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $70.01, for a total transaction of $348,439.77. Following the completion of the transaction, the insider now directly owns 81,446 shares of the company’s stock, valued at $5,702,034.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Peter B. Crawford sold 5,481 shares of the stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $75.51, for a total value of $413,870.31. Following the sale, the chief financial officer now owns 60,567 shares in the company, valued at $4,573,414.17. The disclosure for this sale can be found here. In the last 90 days, insiders sold 394,648 shares of company stock valued at $27,400,905. Insiders own 6.60% of the company’s stock.

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.