Wedge Capital Management L L P NC Buys Shares of 2,951 The Charles Schwab Co. (NYSE:SCHW)

Wedge Capital Management L L P NC purchased a new position in shares of The Charles Schwab Co. (NYSE:SCHW) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 2,951 shares of the financial services provider’s stock, valued at approximately $203,000.

Several other hedge funds also recently modified their holdings of SCHW. Sugarloaf Wealth Management LLC increased its stake in Charles Schwab by 60.0% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 165 shares during the period. Wetzel Investment Advisors Inc. bought a new position in Charles Schwab in the fourth quarter worth $31,000. Hall Laurie J Trustee acquired a new stake in Charles Schwab during the fourth quarter worth $34,000. Providence Capital Advisors LLC bought a new stake in Charles Schwab in the 3rd quarter valued at $28,000. Finally, Glass Jacobson Investment Advisors llc raised its stake in shares of Charles Schwab by 81.0% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 599 shares of the financial services provider’s stock valued at $41,000 after buying an additional 268 shares in the last quarter. 84.38% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Nigel J. Murtagh sold 29,991 shares of Charles Schwab stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $67.80, for a total value of $2,033,389.80. Following the completion of the sale, the insider now directly owns 81,446 shares of the company’s stock, valued at approximately $5,522,038.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Peter B. Crawford sold 8,000 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $64.76, for a total value of $518,080.00. Following the completion of the sale, the chief financial officer now directly owns 29,611 shares in the company, valued at approximately $1,917,608.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nigel J. Murtagh sold 29,991 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $67.80, for a total value of $2,033,389.80. Following the transaction, the insider now owns 81,446 shares in the company, valued at approximately $5,522,038.80. The disclosure for this sale can be found here. Insiders sold 394,648 shares of company stock worth $27,400,905 in the last quarter. Insiders own 6.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on SCHW. TD Cowen upped their target price on shares of Charles Schwab from $87.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Morgan Stanley upped their price objective on Charles Schwab from $65.00 to $71.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Citigroup increased their target price on Charles Schwab from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. JMP Securities reaffirmed a “market outperform” rating and issued a $80.00 price target on shares of Charles Schwab in a research note on Tuesday, April 16th. Finally, StockNews.com upgraded Charles Schwab from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $74.47.

Charles Schwab Stock Up 0.1 %

Shares of NYSE:SCHW opened at $74.99 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.82. The firm has a market cap of $133.19 billion, a P/E ratio of 31.38, a P/E/G ratio of 1.10 and a beta of 1.01. The Charles Schwab Co. has a 12 month low of $45.65 and a 12 month high of $75.55. The company’s 50-day moving average price is $69.68 and its two-hundred day moving average price is $63.84.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date is Thursday, May 9th. Charles Schwab’s dividend payout ratio is currently 41.84%.

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.