Woodline Partners LP Makes New Investment in The Charles Schwab Co. (NYSE:SCHW)

Woodline Partners LP bought a new position in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 89,776 shares of the financial services provider's stock, valued at approximately $6,644,000.

A number of other institutional investors have also added to or reduced their stakes in SCHW. Murphy & Mullick Capital Management Corp purchased a new stake in Charles Schwab in the fourth quarter valued at approximately $38,000. Atala Financial Inc purchased a new position in Charles Schwab in the fourth quarter worth $41,000. Knuff & Co LLC increased its stake in 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 acquiring an additional 563 shares during the last quarter. Financial Life Planners purchased a new stake in Charles Schwab during the fourth quarter valued at about $46,000. Finally, Whipplewood Advisors LLC purchased a new stake in Charles Schwab during the fourth quarter valued at about $46,000. 84.38% of the stock is currently owned by institutional investors.

Charles Schwab Trading Up 1.3%

SCHW stock traded up $1.15 on Tuesday, reaching $88.55. The company's stock had a trading volume of 6,808,631 shares, compared to its average volume of 9,381,774. The firm has a market cap of $160.89 billion, a PE ratio of 29.62, a PEG ratio of 0.99 and a beta of 0.90. The business has a fifty day simple moving average of $80.14 and a two-hundred day simple moving average of $79.11. The Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $89.85. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted 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 analysts' expectations of $5.46 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. During the same period last year, the company posted $0.74 EPS. As a group, research analysts forecast that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were given a dividend of $0.27 per share. The ex-dividend date was Friday, May 9th. This represents a $1.08 annualized dividend and a yield of 1.22%. Charles Schwab's payout ratio is 32.73%.

Insiders Place Their Bets

In related news, General Counsel Peter J. Morgan III sold 10,176 shares of Charles Schwab stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $87.39, for a total transaction of $889,280.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jonathan M. Craig sold 47,500 shares of the company's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $88.46, for a total transaction of $4,201,850.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 96,088 shares of company stock worth $8,105,928. Company insiders own 6.30% of the company's stock.

Wall Street Analysts Forecast Growth

SCHW has been the topic of several recent research reports. Barclays reduced their price objective on Charles Schwab from $96.00 to $84.00 and set an "overweight" rating on the stock in a research report on Monday, April 7th. UBS Group increased their price target on shares of Charles Schwab from $95.00 to $96.00 and gave the company a "buy" rating in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Charles Schwab from $92.00 to $95.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. Citigroup raised shares of Charles Schwab from a "neutral" rating to a "buy" rating and increased their target price for the company from $85.00 to $102.00 in a report on Wednesday, April 2nd. Finally, Piper Sandler boosted their price target on shares of Charles Schwab from $74.00 to $80.00 in a research note on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Charles Schwab currently has an average rating of "Moderate Buy" and an average target price of $89.63.

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.