Pinebridge Investments L.P. Acquires Shares of 564,608 The Charles Schwab Co. (NYSE:SCHW)

Pinebridge Investments L.P. bought a new position in The Charles Schwab Co. (NYSE:SCHW) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 564,608 shares of the financial services provider’s stock, valued at approximately $41,787,000.

A number of other hedge funds have also made changes to their positions in SCHW. Murphy & Mullick Capital Management Corp bought a new position in shares of Charles Schwab in the fourth quarter valued at approximately $38,000. Atala Financial Inc bought a new position in Charles Schwab in the 4th quarter valued at $41,000. Knuff & Co LLC boosted its stake in Charles Schwab by 1,309.3% in the fourth quarter. Knuff & Co LLC now owns 606 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 563 shares in the last quarter. Financial Life Planners bought a new stake in shares of Charles Schwab during the fourth quarter worth $46,000. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Charles Schwab in the fourth quarter valued at $46,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Transactions at Charles Schwab

In other Charles Schwab news, 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 sale, the director now directly owns 172,162 shares in the company, valued at approximately $12,784,750.12. The trade was a 2.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul V. Woolway sold 3,380 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $79.32, for a total transaction of $268,101.60. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 502,030 shares of company stock valued at $40,988,118 over the last three months. Company insiders own 6.30% of the company’s stock.

Charles Schwab Price Performance

SCHW opened at $76.60 on Wednesday. The company has a fifty day simple moving average of $76.91 and a 200 day simple moving average of $76.74. 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 stock has a market cap of $138.92 billion, a P/E ratio of 25.62, a P/E/G ratio of 0.99 and a beta of 0.91. The Charles Schwab Co. has a 12 month low of $61.01 and a 12 month high of $84.50.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data 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. The company had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.46 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. During the same quarter in the prior year, the firm earned $0.74 earnings per share. On average, research analysts expect that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.41%. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 14th. Charles Schwab’s payout ratio is 36.12%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SCHW. Keefe, Bruyette & Woods increased their price objective on shares of Charles Schwab from $90.00 to $93.00 and gave the stock an “outperform” rating in a report on Tuesday. JPMorgan Chase & Co. increased their price target on shares of Charles Schwab from $92.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday. Redburn Partners dropped their price objective on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating for the company in a research report on Friday, January 17th. Piper Sandler increased their price objective on Charles Schwab from $74.00 to $80.00 in a research report on Thursday, April 17th. Finally, JMP Securities restated a “market outperform” rating and set a $94.00 target price on shares of Charles Schwab in a research report on Monday. Two analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $85.78.

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.