Bridgefront Capital LLC Makes New $798,000 Investment in The Charles Schwab Co. (NYSE:SCHW)

Bridgefront Capital LLC acquired a new stake in shares of The Charles Schwab Co. (NYSE:SCHW) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,781 shares of the financial services provider’s stock, valued at approximately $798,000.

A number of other hedge funds also recently made changes to their positions in SCHW. Norges Bank purchased a new stake in shares of Charles Schwab during the 4th quarter valued at about $1,289,544,000. Kovitz Investment Group Partners LLC raised its position in Charles Schwab by 354.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 11,005,881 shares of the financial services provider’s stock valued at $814,545,000 after purchasing an additional 8,584,173 shares during the period. FMR LLC lifted its stake in shares of Charles Schwab by 69.4% in the 4th quarter. FMR LLC now owns 9,700,013 shares of the financial services provider’s stock valued at $717,898,000 after purchasing an additional 3,974,940 shares during the last quarter. Marshall Wace LLP increased its position 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 valued at $309,451,000 after purchasing an additional 3,684,640 shares during the last quarter. Finally, Primecap Management Co. CA raised its holdings in 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 valued at $314,716,000 after buying an additional 3,216,000 shares during the period. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Chairman Walter W. Bettinger sold 464,629 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total value of $38,057,761.39. Following the transaction, the chairman now directly owns 827,377 shares of the company’s stock, valued at approximately $67,770,450.07. This represents a 35.96 % decrease in their ownership of the stock. The sale 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 the firm’s stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $74.26, for a total value of $266,741.92. Following the completion of the transaction, the director now owns 172,162 shares of the company’s stock, valued at approximately $12,784,750.12. The trade was a 2.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 503,041 shares of company stock worth $41,072,558 in the last ninety days. 6.30% of the stock is owned by insiders.

Charles Schwab Trading Up 0.3 %

Shares of NYSE SCHW opened at $83.35 on Tuesday. The business has a fifty day moving average price of $76.99 and a 200 day moving average price of $77.58. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $84.50. 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 stock has a market capitalization of $151.16 billion, a P/E ratio of 27.88, a price-to-earnings-growth 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 for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03. The business had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.46 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. During the same period last year, the business earned $0.74 EPS. Equities research analysts expect that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 9th will be given a $0.27 dividend. The ex-dividend date is Friday, May 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.30%. Charles Schwab’s payout ratio is 32.73%.

Analyst Upgrades and Downgrades

SCHW has been the topic of a number of analyst reports. Keefe, Bruyette & Woods boosted their price objective on shares of Charles Schwab from $90.00 to $93.00 and gave the company an “outperform” rating in a research report on Tuesday, April 22nd. Piper Sandler increased their price objective on shares of Charles Schwab from $74.00 to $80.00 in a research report on Thursday, April 17th. TD Cowen upgraded Charles Schwab from a “hold” rating to a “buy” rating and boosted their target price for the company from $88.00 to $103.00 in a research report on Tuesday, February 18th. Wells Fargo & Company reduced their price target on Charles Schwab from $93.00 to $87.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Finally, JMP Securities restated a “market outperform” rating and set a $94.00 price objective on shares of Charles Schwab in a report on Monday, April 21st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.22.

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.