Wedge Capital Management L L P NC Takes $256,000 Position in The Charles Schwab Co. (NYSE:SCHW)

Wedge Capital Management L L P NC acquired a new stake in The Charles Schwab Co. (NYSE:SCHW - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 3,273 shares of the financial services provider's stock, valued at approximately $256,000.

A number of other institutional investors have also made changes to their positions in the stock. OLD National Bancorp IN raised its stake in shares of Charles Schwab by 26.0% in the 1st quarter. OLD National Bancorp IN now owns 16,631 shares of the financial services provider's stock valued at $1,302,000 after acquiring an additional 3,428 shares in the last quarter. Beach Investment Counsel Inc. PA bought a new position in Charles Schwab in the 1st quarter worth approximately $208,000. Miracle Mile Advisors LLC increased its position in Charles Schwab by 0.4% in the 1st quarter. Miracle Mile Advisors LLC now owns 41,900 shares of the financial services provider's stock worth $3,280,000 after buying an additional 161 shares during the period. Patriot Financial Group Insurance Agency LLC increased its position in Charles Schwab by 9.7% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 48,203 shares of the financial services provider's stock worth $3,773,000 after buying an additional 4,275 shares during the period. Finally, Wedmont Private Capital increased its position in Charles Schwab by 11.9% in the 1st quarter. Wedmont Private Capital now owns 16,307 shares of the financial services provider's stock worth $1,255,000 after buying an additional 1,739 shares during the period. 84.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Barclays dropped their price target 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. Keefe, Bruyette & Woods lifted their price target on Charles Schwab from $90.00 to $93.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 22nd. Piper Sandler lifted their price objective on Charles Schwab from $74.00 to $80.00 in a report on Thursday, April 17th. TD Cowen raised Charles Schwab from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $88.00 to $103.00 in a report on Tuesday, February 18th. Finally, TD Securities lifted their price objective on Charles Schwab from $95.00 to $113.00 and gave the stock a "buy" rating in a report on Tuesday, May 20th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $89.25.

Charles Schwab Trading Down 1.4%

NYSE SCHW traded down $1.24 on Friday, reaching $87.26. The company had a trading volume of 8,938,909 shares, compared to its average volume of 9,416,209. The stock's 50 day moving average is $83.30 and its 200-day moving average is $79.87. The stock has a market cap of $158.55 billion, a price-to-earnings ratio of 29.18, a PEG ratio of 0.99 and a beta of 0.94. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The Charles Schwab Co. has a 52 week low of $61.01 and a 52 week high of $89.85.

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

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were issued a $0.27 dividend. The ex-dividend date was Friday, May 9th. This represents a $1.08 annualized dividend and a dividend yield of 1.24%. Charles Schwab's dividend payout ratio (DPR) is currently 32.73%.

Insider Buying and Selling

In related news, insider Paul V. Woolway sold 3,380 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $77.43, for a total transaction of $261,713.40. Following the completion of the transaction, the insider now directly owns 45,824 shares in the company, valued at approximately $3,548,152.32. This trade represents a 6.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Peter J. Morgan III sold 10,176 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $87.39, for a total value of $889,280.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 97,608 shares of company stock worth $8,392,040. 6.30% of the stock is owned by corporate insiders.

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.