Sovereign s Capital Management LLC Buys Shares of 8,503 The Charles Schwab Co. (NYSE:SCHW)

Sovereign s Capital Management LLC bought a new position in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 8,503 shares of the financial services provider's stock, valued at approximately $629,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Charles Schwab in the 4th quarter worth approximately $38,000. Atala Financial Inc purchased a new stake in shares of Charles Schwab in the 4th quarter worth approximately $41,000. Knuff & Co LLC grew its stake in shares of Charles Schwab by 1,309.3% in the 4th quarter. Knuff & Co LLC now owns 606 shares of the financial services provider's stock worth $45,000 after buying an additional 563 shares during the last quarter. Financial Life Planners purchased a new stake in shares of Charles Schwab in the 4th quarter worth approximately $46,000. Finally, Whipplewood Advisors LLC purchased a new stake in shares of Charles Schwab in the 4th quarter worth approximately $46,000. Hedge funds and other institutional investors own 84.38% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on SCHW shares. UBS Group upped their price target on Charles Schwab from $95.00 to $96.00 and gave the stock a "buy" rating in a research note on Tuesday, April 22nd. JMP Securities reiterated a "market outperform" rating and set a $94.00 target price on shares of Charles Schwab in a research note on Monday, April 21st. Wells Fargo & Company cut their target price on Charles Schwab from $93.00 to $87.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Morgan Stanley increased their target price on Charles Schwab from $76.00 to $83.00 and gave the company an "overweight" rating in a research note on Tuesday, May 13th. Finally, Piper Sandler increased their target price on Charles Schwab from $74.00 to $80.00 in a research note on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $89.63.

Insider Transactions at Charles Schwab

In related news, Director Frank C. Herringer sold 3,592 shares of Charles Schwab stock in a transaction dated Monday, April 21st. The stock was 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 owns 172,162 shares in the company, valued at approximately $12,784,750.12. This trade represents a 2.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Paul V. Woolway sold 3,380 shares of Charles Schwab stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $79.32, for a total value of $268,101.60. Following the completion of the transaction, the insider now owns 57,818 shares of the company's stock, valued at approximately $4,586,123.76. This represents a 5.52% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,412 shares of company stock valued at $3,014,797. 6.30% of the stock is currently owned by insiders.

Charles Schwab Stock Performance

Shares of NYSE SCHW traded down $1.61 during midday trading on Wednesday, hitting $87.57. 8,579,684 shares of the stock traded hands, compared to its average volume of 9,446,028. The Charles Schwab Co. has a one year low of $61.01 and a one year high of $89.85. The firm has a 50-day moving average of $79.58 and a two-hundred day moving average of $78.73. The firm has a market capitalization of $159.10 billion, a P/E ratio of 29.29, 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.

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

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 9th will be issued a $0.27 dividend. The ex-dividend date is Friday, May 9th. This represents a $1.08 annualized dividend and a dividend yield of 1.23%. Charles Schwab's dividend payout ratio (DPR) is 32.73%.

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.