The Charles Schwab Co. (NYSE:SCHW) Stake Reduced by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado trimmed its stake in The Charles Schwab Co. (NYSE:SCHW) by 2.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 209,826 shares of the financial services provider’s stock after selling 5,677 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Charles Schwab were worth $15,462,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Morningstar Investment Services LLC lifted its position in Charles Schwab by 98.0% in the 4th quarter. Morningstar Investment Services LLC now owns 4,691,362 shares of the financial services provider’s stock valued at $326,284,000 after purchasing an additional 2,322,156 shares during the last quarter. M&G Plc bought a new stake in shares of Charles Schwab during the first quarter valued at approximately $11,452,000. Daiwa Securities Group Inc. boosted its position in shares of Charles Schwab by 10.4% during the first quarter. Daiwa Securities Group Inc. now owns 190,597 shares of the financial services provider’s stock worth $13,788,000 after buying an additional 17,925 shares during the period. Wedmont Private Capital grew its holdings in Charles Schwab by 12.2% in the 1st quarter. Wedmont Private Capital now owns 13,130 shares of the financial services provider’s stock worth $949,000 after buying an additional 1,430 shares in the last quarter. Finally, Bridgewater Associates LP increased its position in Charles Schwab by 217.8% in the 4th quarter. Bridgewater Associates LP now owns 194,339 shares of the financial services provider’s stock valued at $13,371,000 after acquiring an additional 133,186 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Trading Up 1.0 %

Shares of NYSE SCHW opened at $65.38 on Friday. 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 12 month low of $48.66 and a 12 month high of $79.49. The company has a market cap of $116.27 billion, a price-to-earnings ratio of 27.36, a P/E/G ratio of 1.19 and a beta of 0.97. The business has a fifty day simple moving average of $64.28 and a 200-day simple moving average of $69.93.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, topping the consensus estimate of $0.72 by $0.01. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The company had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.68 billion. During the same period last year, the company posted $0.75 earnings per share. The business’s revenue for the quarter was up .7% on a year-over-year basis. Sell-side analysts predict that The Charles Schwab Co. will post 3.05 EPS for the current year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.53%. The ex-dividend date was Friday, August 9th. Charles Schwab’s dividend payout ratio (DPR) is currently 41.84%.

Insider Activity

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total transaction of $576,450.00. Following the transaction, the director now owns 554,929 shares in the company, valued at $35,543,202.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Walter W. Bettinger bought 25,000 shares of the business’s stock in a transaction on Wednesday, July 17th. The stock was bought at an average price of $66.26 per share, for a total transaction of $1,656,500.00. Following the transaction, the chief executive officer now directly owns 827,377 shares in the company, valued at $54,822,000.02. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total transaction of $576,450.00. Following the transaction, the director now owns 554,929 shares in the company, valued at $35,543,202.45. The disclosure for this sale can be found here. Insiders sold 99,636 shares of company stock worth $6,457,104 over the last quarter. Corporate insiders own 6.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on SCHW. JPMorgan Chase & Co. reduced their price target on Charles Schwab from $82.00 to $78.00 and set an “overweight” rating for the company in a research report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Charles Schwab from $79.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Wells Fargo & Company assumed coverage on shares of Charles Schwab in a research note on Thursday, September 12th. They set an “equal weight” rating and a $70.00 target price on the stock. Jefferies Financial Group upped their price target on shares of Charles Schwab from $85.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. Finally, Piper Sandler lowered shares of Charles Schwab from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $80.00 to $64.00 in a research note on Monday, July 29th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Charles Schwab currently has a consensus rating of “Hold” and a consensus price target of $73.75.

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.