First Manhattan CO. LLC. Buys 6,621 Shares of The Charles Schwab Co. (NYSE:SCHW)

First Manhattan CO. LLC. raised its holdings in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 1.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 461,797 shares of the financial services provider's stock after buying an additional 6,621 shares during the period. First Manhattan CO. LLC.'s holdings in Charles Schwab were worth $34,178,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SCHW. FWL Investment Management LLC increased its stake in shares of Charles Schwab by 28.4% during the fourth quarter. FWL Investment Management LLC now owns 6,310 shares of the financial services provider's stock worth $467,000 after purchasing an additional 1,396 shares during the period. Citizens Business Bank increased its stake in shares of Charles Schwab by 105.1% during the fourth quarter. Citizens Business Bank now owns 133,214 shares of the financial services provider's stock worth $9,859,000 after purchasing an additional 68,266 shares during the period. EP Wealth Advisors LLC increased its stake in shares of Charles Schwab by 44.6% during the fourth quarter. EP Wealth Advisors LLC now owns 38,564 shares of the financial services provider's stock worth $2,854,000 after purchasing an additional 11,888 shares during the period. Colonial Trust Co SC increased its stake in shares of Charles Schwab by 30.1% during the fourth quarter. Colonial Trust Co SC now owns 50,439 shares of the financial services provider's stock worth $3,733,000 after purchasing an additional 11,677 shares during the period. Finally, Crestline Management LP bought a new position in shares of Charles Schwab during the fourth quarter worth approximately $5,044,000. Institutional investors own 84.38% of the company's stock.

Wall Street Analyst Weigh In

SCHW has been the topic of a number of analyst reports. Redburn Partners reduced their price target on Charles Schwab from $70.00 to $68.00 and set a "sell" rating on the stock in a research report on Friday, January 17th. JMP Securities reissued a "market outperform" rating and set a $94.00 price target on shares of Charles Schwab in a research report on Monday, April 21st. JPMorgan Chase & Co. increased their price target on Charles Schwab from $92.00 to $95.00 and gave the stock an "overweight" rating in a research report on Monday, April 21st. Barclays reduced 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. Finally, Truist Financial reduced their price target on Charles Schwab from $85.00 to $84.00 and set a "buy" rating on the stock in a research report on Monday, April 21st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Charles Schwab currently has a consensus rating of "Moderate Buy" and an average target price of $87.22.

Charles Schwab Price Performance

Shares of NYSE SCHW traded up $0.16 during mid-day trading on Friday, hitting $84.53. 5,909,955 shares of the stock traded hands, compared to its average volume of 9,413,142. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The Charles Schwab Co. has a twelve month low of $61.01 and a twelve month high of $85.19. The company has a market cap of $153.30 billion, a PE ratio of 28.27, a price-to-earnings-growth ratio of 0.99 and a beta of 0.90. The firm has a 50 day simple moving average of $77.48 and a two-hundred day simple moving average of $77.92.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $5.46 billion. During the same quarter last year, the business posted $0.74 EPS. As a group, equities research analysts forecast that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

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

Insider Activity at Charles Schwab

In related news, Chairman Walter W. Bettinger sold 464,629 shares of the firm's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the sale, the chairman now owns 827,377 shares of the company's stock, valued at $67,770,450.07. This trade represents a 35.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Paul V. Woolway sold 3,380 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $79.32, for a total value of $268,101.60. Following the sale, the insider now directly owns 57,818 shares in the company, valued at approximately $4,586,123.76. This trade represents a 5.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 503,041 shares of company stock valued at $41,072,558 in the last 90 days. 6.30% of the stock is owned by corporate insiders.

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.