Wimmer Associates 1 LLC Purchases Shares of 2,984 The Charles Schwab Co. (NYSE:SCHW)

Wimmer Associates 1 LLC purchased a new stake in shares of The Charles Schwab Co. (NYSE:SCHW) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,984 shares of the financial services provider’s stock, valued at approximately $221,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its position in Charles Schwab by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 128,578,230 shares of the financial services provider’s stock valued at $9,516,075,000 after purchasing an additional 1,187,384 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Charles Schwab by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 30,901,484 shares of the financial services provider’s stock worth $2,279,742,000 after acquiring an additional 760,043 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of Charles Schwab by 1.3% in the 4th quarter. Fisher Asset Management LLC now owns 20,455,266 shares of the financial services provider’s stock worth $1,513,894,000 after acquiring an additional 265,708 shares in the last quarter. Norges Bank bought a new position in shares of Charles Schwab in the 4th quarter worth approximately $1,289,544,000. Finally, Northern Trust Corp raised its position in shares of Charles Schwab by 13.4% in the 4th quarter. Northern Trust Corp now owns 15,739,917 shares of the financial services provider’s stock worth $1,164,911,000 after acquiring an additional 1,864,286 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SCHW shares. Morgan Stanley increased their target price on Charles Schwab from $76.00 to $83.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 13th. Piper Sandler increased their target price on Charles Schwab from $74.00 to $80.00 in a research report on Thursday, April 17th. JPMorgan Chase & Co. upped their price target on Charles Schwab from $92.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, April 21st. Wells Fargo & Company cut their price target 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. Finally, Keefe, Bruyette & Woods upped their price target on Charles Schwab from $90.00 to $93.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $88.33.

Charles Schwab Stock Performance

Shares of SCHW opened at $88.72 on Monday. The Charles Schwab Co. has a one year low of $61.01 and a one year high of $88.87. The business has a fifty day moving average of $78.76 and a 200 day moving average of $78.47. 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 firm has a market capitalization of $161.19 billion, a P/E ratio of 29.67, a PEG ratio of 0.99 and a beta of 0.90.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The business had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.46 billion. During the same period in the previous year, the company posted $0.74 EPS. As a group, sell-side analysts anticipate that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 9th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Friday, May 9th. Charles Schwab’s payout ratio is currently 32.73%.

Insider Activity

In related news, insider Paul V. Woolway sold 9,887 shares of Charles Schwab stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $75.38, for a total transaction of $745,282.06. Following the transaction, the insider now directly owns 47,931 shares in the company, valued at approximately $3,613,038.78. The trade was a 17.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frank C. Herringer sold 3,592 shares of Charles Schwab stock in a transaction on Monday, April 21st. The shares were sold at an average price of $74.26, for a total value of $266,741.92. Following the transaction, the director now owns 172,162 shares in the company, valued at $12,784,750.12. This trade represents a 2.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,412 shares of company stock valued at $3,014,797 in the last quarter. 6.30% of the stock is currently owned by insiders.

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.