Kentucky Retirement Systems Sells 518 Shares of The Charles Schwab Co. (NYSE:SCHW)

Kentucky Retirement Systems lessened its holdings in The Charles Schwab Co. (NYSE:SCHW) by 0.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 112,501 shares of the financial services provider’s stock after selling 518 shares during the quarter. Kentucky Retirement Systems’ holdings in Charles Schwab were worth $8,290,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Nelson Capital Management LLC lifted its stake in Charles Schwab by 0.4% in the 1st quarter. Nelson Capital Management LLC now owns 37,726 shares of the financial services provider’s stock valued at $2,729,000 after purchasing an additional 141 shares during the last quarter. Abbrea Capital LLC boosted its holdings in shares of Charles Schwab by 2.5% during the 1st quarter. Abbrea Capital LLC now owns 5,777 shares of the financial services provider’s stock valued at $418,000 after acquiring an additional 142 shares in the last quarter. Ironwood Financial llc grew its position in Charles Schwab by 1.6% during the 1st quarter. Ironwood Financial llc now owns 10,186 shares of the financial services provider’s stock worth $737,000 after acquiring an additional 160 shares during the last quarter. Ascent Wealth Partners LLC increased its holdings in Charles Schwab by 0.7% in the 2nd quarter. Ascent Wealth Partners LLC now owns 23,361 shares of the financial services provider’s stock worth $1,721,000 after purchasing an additional 164 shares in the last quarter. Finally, Sculati Wealth Management LLC raised its position in Charles Schwab by 0.4% in the fourth quarter. Sculati Wealth Management LLC now owns 42,971 shares of the financial services provider’s stock valued at $2,956,000 after purchasing an additional 165 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SCHW. Bank of America lowered their price objective on Charles Schwab from $72.00 to $66.00 and set an “underperform” rating for the company in a research note on Wednesday, July 17th. Morgan Stanley dropped their price target on shares of Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, August 16th. Piper Sandler cut shares of Charles Schwab from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $80.00 to $64.00 in a research note on Monday, July 29th. TD Cowen reaffirmed a “hold” rating and set a $71.00 target price (down from $88.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. Finally, Barclays reduced their price target on Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 17th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $73.75.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $63.56 on Thursday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65. The Charles Schwab Co. has a 52 week low of $48.66 and a 52 week high of $79.49. The firm has a 50 day moving average of $64.70 and a 200-day moving average of $69.98. The company has a market cap of $112.96 billion, a price-to-earnings ratio of 26.59, a price-to-earnings-growth ratio of 1.16 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.01. The firm had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.68 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The business’s revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.75 earnings per share. On average, equities analysts forecast that The Charles Schwab Co. will post 3.05 earnings per share for the current year.

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were issued a $0.25 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.00 annualized dividend and a yield of 1.57%. Charles Schwab’s payout ratio is currently 41.84%.

Insider Buying and Selling at Charles Schwab

In other news, insider Jonathan S. Beatty sold 780 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $75.00, for a total transaction of $58,500.00. Following the transaction, the insider now directly owns 18,069 shares of the company’s stock, valued at $1,355,175. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Walter W. Bettinger bought 25,000 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were bought at an average price of $66.26 per share, for a total transaction of $1,656,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 827,377 shares of the company’s stock, valued at $54,822,000.02. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jonathan S. Beatty sold 780 shares of the company’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $75.00, for a total value of $58,500.00. Following the sale, the insider now owns 18,069 shares of the company’s stock, valued at approximately $1,355,175. The disclosure for this sale can be found here. Over the last quarter, insiders sold 90,636 shares of company stock valued at $5,880,654. Company insiders own 6.60% of the company’s stock.

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.