State of Michigan Retirement System Grows Position in The Charles Schwab Co. (NYSE:SCHW)

State of Michigan Retirement System lifted its holdings in The Charles Schwab Co. (NYSE:SCHW) by 0.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 407,766 shares of the financial services provider’s stock after purchasing an additional 300 shares during the period. State of Michigan Retirement System’s holdings in Charles Schwab were worth $29,498,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ironwood Financial llc raised its position in Charles Schwab by 1.6% during the first 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. Courier Capital LLC boosted its holdings in Charles Schwab by 0.4% in the fourth quarter. Courier Capital LLC now owns 45,539 shares of the financial services provider’s stock valued at $3,133,000 after purchasing an additional 161 shares during the last quarter. Sugarloaf Wealth Management LLC grew its holdings in Charles Schwab by 60.0% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 165 shares in the last quarter. Sculati Wealth Management LLC boosted its holdings 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 worth $2,956,000 after purchasing an additional 165 shares during the period. Finally, Manchester Capital Management LLC boosted its position in Charles Schwab by 16.7% during the 4th quarter. Manchester Capital Management LLC now owns 1,190 shares of the financial services provider’s stock valued at $82,000 after purchasing an additional 170 shares during the period. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SCHW. UBS Group upped their price objective on shares of Charles Schwab from $87.00 to $91.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Citigroup raised their target price on Charles Schwab from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Deutsche Bank Aktiengesellschaft lowered their price objective 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. StockNews.com cut shares of Charles Schwab from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. Finally, Bank of America lifted their price target on Charles Schwab from $68.00 to $70.00 and gave the company an “underperform” rating in a report on Tuesday, April 16th. Three analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $75.56.

Insider Transactions at Charles Schwab

In other news, CFO Peter B. Crawford sold 5,481 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $75.51, for a total value of $413,870.31. Following the sale, the chief financial officer now directly owns 60,567 shares of the company’s stock, valued at approximately $4,573,414.17. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Charles Schwab news, CFO Peter B. Crawford sold 5,481 shares of the firm’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $75.51, for a total transaction of $413,870.31. Following the completion of the sale, the chief financial officer now owns 60,567 shares of the company’s stock, valued at approximately $4,573,414.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Peter J. Morgan III sold 24,520 shares of the stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $72.23, for a total transaction of $1,771,079.60. The disclosure for this sale can be found here. Insiders have sold a total of 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.

Charles Schwab Stock Up 1.0 %

Shares of Charles Schwab stock traded up $0.73 on Tuesday, hitting $74.15. The company had a trading volume of 4,320,787 shares, compared to its average volume of 7,314,505. The stock has a 50-day moving average of $74.40 and a 200-day moving average of $69.86. The Charles Schwab Co. has a twelve month low of $48.66 and a twelve month high of $79.49. The firm has a market capitalization of $131.79 billion, a P/E ratio of 30.94, a P/E/G ratio of 1.14 and a beta of 0.99. 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 data on Monday, April 15th. The financial services provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. Charles Schwab had a net margin of 26.14% and a return on equity of 19.25%. The business had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.71 billion. Research analysts predict that The Charles Schwab Co. will post 3.25 earnings per share for the current year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.00 dividend on an annualized basis and a yield of 1.35%. Charles Schwab’s dividend payout ratio is 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.