State of Alaska Department of Revenue Increases Stock Position in The Charles Schwab Co. (NYSE:SCHW)

State of Alaska Department of Revenue lifted its holdings in The Charles Schwab Co. (NYSE:SCHW) by 0.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 161,482 shares of the financial services provider’s stock after buying an additional 755 shares during the period. State of Alaska Department of Revenue’s holdings in Charles Schwab were worth $11,681,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its holdings in shares of Charles Schwab by 33.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 69,360,233 shares of the financial services provider’s stock worth $4,771,985,000 after buying an additional 17,369,091 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Charles Schwab by 4.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 30,994,967 shares of the financial services provider’s stock valued at $2,132,454,000 after purchasing an additional 1,219,015 shares during the last quarter. Fisher Asset Management LLC grew its holdings in Charles Schwab by 1.6% during the 4th quarter. Fisher Asset Management LLC now owns 18,627,667 shares of the financial services provider’s stock valued at $1,281,584,000 after purchasing an additional 296,317 shares during the last quarter. Norges Bank bought a new position in Charles Schwab during the 4th quarter valued at about $950,192,000. Finally, Putnam Investments LLC grew its holdings in Charles Schwab by 4.8% during the 4th quarter. Putnam Investments LLC now owns 12,237,705 shares of the financial services provider’s stock valued at $841,954,000 after purchasing an additional 560,110 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $72.49, for a total transaction of $652,410.00. Following the completion of the transaction, the director now owns 570,657 shares in the company, valued at approximately $41,366,925.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Charles Schwab news, COO Joseph R. Martinetto sold 43,000 shares of the business’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $70.83, for a total value of $3,045,690.00. Following the transaction, the chief operating officer now directly owns 41,414 shares of the company’s stock, valued at approximately $2,933,353.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $72.49, for a total transaction of $652,410.00. Following the completion of the transaction, the director now directly owns 570,657 shares in the company, valued at $41,366,925.93. The disclosure for this sale can be found here. Insiders sold 658,663 shares of company stock worth $48,997,146 in the last 90 days. Corporate insiders own 6.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on SCHW shares. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Charles Schwab from $86.00 to $83.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Bank of America increased their target price on shares of Charles Schwab from $68.00 to $70.00 and gave the company an “underperform” rating in a research report on Tuesday, April 16th. JMP Securities reaffirmed a “market outperform” rating and issued a $80.00 price target on shares of Charles Schwab in a report on Tuesday, May 28th. Barclays raised their price target on shares of Charles Schwab from $74.00 to $75.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 16th. Finally, TD Cowen cut their price objective on shares of Charles Schwab from $92.00 to $88.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Charles Schwab currently has an average rating of “Hold” and an average price target of $75.56.

Charles Schwab Price Performance

Shares of SCHW opened at $74.08 on Thursday. The Charles Schwab Co. has a 1-year low of $48.66 and a 1-year high of $79.49. The stock has a market cap of $131.66 billion, a PE ratio of 31.00, a P/E/G ratio of 1.15 and a beta of 0.99. The firm has a 50-day simple moving average of $74.38 and a two-hundred day simple moving average of $69.88. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.42 and a quick ratio of 0.42.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Monday, April 15th. The financial services provider reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The business had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.71 billion. Charles Schwab had a net margin of 26.14% and a return on equity of 19.25%. As a group, analysts forecast that The Charles Schwab Co. will post 3.25 EPS for the current year.

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend was Thursday, May 9th. Charles Schwab’s dividend payout ratio (DPR) is presently 41.84%.

Charles Schwab 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.