Wimmer Associates 1 LLC Purchases New Stake in The Charles Schwab Co. (NYSE:SCHW)

Wimmer Associates 1 LLC purchased a new position in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,984 shares of the financial services provider's stock, valued at approximately $221,000.

A number of other large investors have also recently bought and sold shares of the business. Twinbeech Capital LP acquired a new stake in Charles Schwab during the 4th quarter worth $218,000. Two Sigma Advisers LP boosted its stake in Charles Schwab by 5.9% during the 4th quarter. Two Sigma Advisers LP now owns 1,419,695 shares of the financial services provider's stock worth $105,072,000 after purchasing an additional 79,700 shares during the period. Two Sigma Investments LP boosted its stake in Charles Schwab by 29.6% during the 4th quarter. Two Sigma Investments LP now owns 662,242 shares of the financial services provider's stock worth $49,013,000 after purchasing an additional 151,261 shares during the period. Tidal Investments LLC boosted its stake in Charles Schwab by 15.9% during the 4th quarter. Tidal Investments LLC now owns 138,097 shares of the financial services provider's stock worth $10,221,000 after purchasing an additional 18,912 shares during the period. Finally, Teza Capital Management LLC raised its position in Charles Schwab by 111.0% during the 4th quarter. Teza Capital Management LLC now owns 67,888 shares of the financial services provider's stock worth $5,024,000 after buying an additional 35,720 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company's stock.

Insider Activity at Charles Schwab

In related news, insider Jonathan M. Craig sold 9,559 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $82.00, for a total value of $783,838.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Frank C. Herringer sold 3,592 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $74.26, for a total transaction of $266,741.92. Following the completion of the transaction, the director now owns 172,162 shares in the company, valued at $12,784,750.12. The trade was a 2.04% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,412 shares of company stock worth $3,014,797. 6.30% of the stock is owned by company insiders.

Charles Schwab Price Performance

NYSE SCHW traded down $1.61 during trading hours on Wednesday, reaching $87.57. The company's stock had a trading volume of 8,579,684 shares, compared to its average volume of 9,446,024. The stock has a market cap of $159.10 billion, a PE ratio of 29.29, a PEG ratio of 0.99 and a beta of 0.90. The Charles Schwab Co. has a fifty-two week low of $61.01 and a fifty-two week high of $89.87. The company's 50-day moving average is $79.58 and its two-hundred day moving average is $78.73. 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 released 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 net margin of 30.31% and a return on equity of 18.20%. The company had revenue of $5.60 billion for the quarter, compared to analysts' expectations of $5.46 billion. During the same period last year, the company earned $0.74 EPS. Analysts forecast that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 9th will be paid a dividend of $0.27 per share. 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 is currently 32.73%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SCHW. Barclays cut their price objective on shares of Charles Schwab from $96.00 to $84.00 and set an "overweight" rating for the company in a research report on Monday, April 7th. TD Securities upped their price objective on shares of Charles Schwab from $95.00 to $113.00 and gave the stock a "buy" rating in a research report on Tuesday. Keefe, Bruyette & Woods upped their price objective on shares of Charles Schwab from $90.00 to $93.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 22nd. Morgan Stanley upped their price objective on shares of Charles Schwab from $76.00 to $83.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 13th. Finally, TD Cowen upgraded shares of Charles Schwab from a "hold" rating to a "buy" rating and upped their price objective for the stock from $88.00 to $103.00 in a research report on Tuesday, February 18th. Two 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. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $89.63.

Charles Schwab Company 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.