Crestline Management LP Buys New Position in The Charles Schwab Co. (NYSE:SCHW)

Crestline Management LP purchased a new stake in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 68,152 shares of the financial services provider's stock, valued at approximately $5,044,000.

A number of other hedge funds have also modified their holdings of the company. Capital Advantage Inc. purchased a new stake in Charles Schwab in the fourth quarter valued at $600,000. Brevan Howard Capital Management LP lifted its holdings in shares of Charles Schwab by 1,043.2% in the 4th quarter. Brevan Howard Capital Management LP now owns 205,416 shares of the financial services provider's stock valued at $15,203,000 after buying an additional 187,448 shares during the period. Bridgefront Capital LLC purchased a new stake in shares of Charles Schwab in the fourth quarter worth about $798,000. Captrust Financial Advisors grew its holdings in Charles Schwab by 14.9% during the fourth quarter. Captrust Financial Advisors now owns 266,342 shares of the financial services provider's stock worth $19,712,000 after acquiring an additional 34,451 shares during the period. Finally, Cary Street Partners Financial LLC purchased a new position in Charles Schwab during the fourth quarter valued at approximately $1,455,000. 84.38% of the stock is owned by institutional investors and hedge funds.

Charles Schwab Price Performance

Shares of SCHW stock traded up $0.16 during trading hours on Friday, reaching $84.53. The company had a trading volume of 5,909,955 shares, compared to its average volume of 9,395,897. The Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $85.19. The company has a market capitalization of $153.30 billion, a price-to-earnings ratio of 28.27, a PEG 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 stock has a fifty day moving average of $77.48 and a 200-day moving average of $77.84.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, beating the consensus estimate of $1.01 by $0.03. The firm had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.46 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. During the same quarter in the previous year, the company earned $0.74 EPS. On average, equities analysts anticipate that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

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

Wall Street Analyst Weigh In

SCHW has been the subject of several recent research reports. Keefe, Bruyette & Woods lifted their target price on shares of Charles Schwab from $90.00 to $93.00 and gave the company an "outperform" rating in a report on Tuesday, April 22nd. Redburn Partners cut their price objective on shares of Charles Schwab from $70.00 to $68.00 and set a "sell" rating for the company in a report on Friday, January 17th. JPMorgan Chase & Co. increased their target price on shares of Charles Schwab from $92.00 to $95.00 and gave the stock an "overweight" rating in a research note on Monday, April 21st. TD Cowen upgraded Charles Schwab from a "hold" rating to a "buy" rating and lifted their price target for the company from $88.00 to $103.00 in a research note on Tuesday, February 18th. Finally, Piper Sandler increased their price target on Charles Schwab from $74.00 to $80.00 in a research report on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $87.22.

Insider Transactions at Charles Schwab

In other news, insider Jonathan M. Craig sold 9,559 shares of the business's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $82.00, for a total transaction of $783,838.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Walter W. Bettinger sold 464,629 shares of the firm's stock in a transaction on Wednesday, February 12th. The shares were 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. The trade was a 35.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 503,041 shares of company stock worth $41,072,558 over the last ninety days. Company insiders own 6.30% 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.