Bridgecreek Investment Management LLC Reduces Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Bridgecreek Investment Management LLC cut its holdings in shares of The Charles Schwab Co. (NYSE:SCHWFree Report) by 1.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,025 shares of the financial services provider’s stock after selling 750 shares during the period. Bridgecreek Investment Management LLC’s holdings in Charles Schwab were worth $3,786,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Sugarloaf Wealth Management LLC lifted its holdings in shares of Charles Schwab by 60.0% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 165 shares during the period. Frazier Financial Advisors LLC purchased a new position in shares of Charles Schwab in the fourth quarter valued at $30,000. Wetzel Investment Advisors Inc. purchased a new position in shares of Charles Schwab in the fourth quarter valued at $31,000. Hall Laurie J Trustee purchased a new position in shares of Charles Schwab in the fourth quarter valued at $34,000. Finally, Providence Capital Advisors LLC purchased a new position in shares of Charles Schwab in the third quarter valued at $28,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Charles Schwab Trading Down 1.1 %

Shares of NYSE SCHW traded down $0.78 during midday trading on Monday, hitting $72.50. The stock had a trading volume of 2,331,247 shares, compared to its average volume of 7,545,227. The company has a market capitalization of $128.85 billion, a price-to-earnings ratio of 30.51, a PEG ratio of 1.12 and a beta of 0.96. The Charles Schwab Co. has a 1-year low of $48.66 and a 1-year high of $79.49. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.69. The company has a fifty day moving average price of $73.81 and a 200 day moving average price of $67.94.

Charles Schwab (NYSE:SCHWGet Free Report) last released its quarterly earnings data on Monday, April 15th. The financial services provider reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.01. The business had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.71 billion. Charles Schwab had a return on equity of 19.25% and a net margin of 26.14%. On average, analysts predict that The Charles Schwab Co. will post 3.28 earnings per share for the current year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.38%. The ex-dividend date was Thursday, May 9th. Charles Schwab’s dividend payout ratio (DPR) is presently 41.84%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Morgan Stanley lifted their price objective on Charles Schwab from $65.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. JPMorgan Chase & Co. dropped their price objective on Charles Schwab from $89.00 to $81.00 and set an “overweight” rating for the company in a research report on Friday. JMP Securities reiterated a “market outperform” rating and set a $80.00 price objective on shares of Charles Schwab in a research report on Tuesday, May 28th. Piper Sandler lifted their price objective on Charles Schwab from $75.00 to $78.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Charles Schwab from $86.00 to $83.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $74.65.

Check Out Our Latest Research Report on SCHW

Insider Buying and Selling

In related news, insider Bernard J. Clark sold 77,431 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $70.94, for a total transaction of $5,492,955.14. Following the transaction, the insider now directly owns 121,666 shares of the company’s stock, valued at approximately $8,630,986.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Charles Schwab news, insider Nigel J. Murtagh sold 29,991 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $67.80, for a total value of $2,033,389.80. Following the transaction, the insider now directly owns 81,446 shares of the company’s stock, valued at approximately $5,522,038.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Bernard J. Clark sold 77,431 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $70.94, for a total value of $5,492,955.14. Following the completion of the sale, the insider now owns 121,666 shares of the company’s stock, valued at $8,630,986.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 685,467 shares of company stock valued at $50,752,095. Corporate insiders own 6.60% of the company’s stock.

About Charles Schwab

(Free Report)

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.

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Institutional Ownership by Quarter for Charles Schwab (NYSE:SCHW)

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