Sherbrooke Park Advisers LLC Makes New $571,000 Investment in The Charles Schwab Co. (NYSE:SCHW)

Sherbrooke Park Advisers LLC bought a new position in The Charles Schwab Co. (NYSE:SCHW) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 7,711 shares of the financial services provider’s stock, valued at approximately $571,000.

Several other hedge funds also recently bought and sold shares of SCHW. Norges Bank bought a new stake in shares of Charles Schwab during the 4th quarter worth about $1,289,544,000. Kovitz Investment Group Partners LLC boosted its stake in shares of Charles Schwab by 354.5% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 11,005,881 shares of the financial services provider’s stock worth $814,545,000 after acquiring an additional 8,584,173 shares in the last quarter. FMR LLC boosted its stake in shares of Charles Schwab by 69.4% during the 4th quarter. FMR LLC now owns 9,700,013 shares of the financial services provider’s stock worth $717,898,000 after acquiring an additional 3,974,940 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Charles Schwab by 742.0% during the 4th quarter. Marshall Wace LLP now owns 4,181,202 shares of the financial services provider’s stock worth $309,451,000 after acquiring an additional 3,684,640 shares in the last quarter. Finally, Primecap Management Co. CA boosted its stake in shares of Charles Schwab by 310.3% during the 4th quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider’s stock worth $314,716,000 after acquiring an additional 3,216,000 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Jonathan M. Craig sold 9,559 shares of Charles Schwab stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $82.00, for a total value of $783,838.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul V. Woolway sold 3,380 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $79.32, for a total value of $268,101.60. Following the completion of the transaction, the insider now owns 57,818 shares in the company, valued at $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. In the last ninety days, insiders sold 38,412 shares of company stock valued at $3,014,797. Company insiders own 6.30% of the company’s stock.

Charles Schwab Trading Up 0.7%

Shares of SCHW opened at $88.72 on Friday. The Charles Schwab Co. has a 1 year low of $61.01 and a 1 year high of $88.87. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The stock has a 50 day simple moving average of $78.76 and a 200-day simple moving average of $78.36. The stock has a market cap of $160.89 billion, a PE ratio of 29.67, a PEG ratio of 0.99 and a beta of 0.90.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $5.46 billion. During the same period in the prior year, the firm posted $0.74 EPS. On average, sell-side analysts predict that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

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

Analyst Ratings Changes

Several analysts have recently issued reports on SCHW shares. 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. Piper Sandler upped their price target on Charles Schwab from $74.00 to $80.00 in a research note on Thursday, April 17th. TD Cowen upgraded Charles Schwab from a “hold” rating to a “buy” rating and increased their target price for the company from $88.00 to $103.00 in a research note on Tuesday, February 18th. Barclays decreased their target price on Charles Schwab from $96.00 to $84.00 and set an “overweight” rating for the company in a research note on Monday, April 7th. Finally, JPMorgan Chase & Co. increased their target price on Charles Schwab from $92.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.33.

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.