The Charles Schwab Co. (NYSE:SCHW) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System cut its holdings in The Charles Schwab Co. (NYSE:SCHW) by 2.4% in the 4th quarter, HoldingsChannel reports. The fund owned 1,262,384 shares of the financial services provider’s stock after selling 31,030 shares during the period. New York State Teachers Retirement System’s holdings in Charles Schwab were worth $93,429,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Merit Financial Group LLC increased its holdings in shares of Charles Schwab by 230.1% during the 4th quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider’s stock worth $2,483,000 after buying an additional 23,383 shares during the last quarter. Benjamin Edwards Inc. increased its holdings in shares of Charles Schwab by 2,840.7% during the 3rd quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock worth $398,000 after buying an additional 5,937 shares during the last quarter. Synovus Financial Corp increased its holdings in shares of Charles Schwab by 46.0% during the 3rd quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock worth $4,400,000 after buying an additional 21,377 shares during the last quarter. Oregon Pacific Wealth Management LLC acquired a new stake in shares of Charles Schwab during the 4th quarter worth $688,000. Finally, Golden State Equity Partners increased its holdings in shares of Charles Schwab by 293.9% during the 4th quarter. Golden State Equity Partners now owns 12,207 shares of the financial services provider’s stock worth $903,000 after buying an additional 9,108 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SCHW has been the subject of a number of research analyst reports. Jefferies Financial Group upped their price objective on Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Wells Fargo & Company upgraded Charles Schwab from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $89.00 to $93.00 in a report on Wednesday, January 22nd. Piper Sandler upped their price target on shares of Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $94.00 price target (up from $84.00) on shares of Charles Schwab in a research report on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $84.56.

Insider Activity

In related news, Director Arun Sarin sold 8,548 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total transaction of $699,397.36. Following the completion of the sale, the director now directly owns 18,617 shares in the company, valued at approximately $1,523,242.94. This trade represents a 31.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Nigel J. Murtagh sold 12,739 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $81.17, for a total transaction of $1,034,024.63. Following the sale, the insider now owns 59,092 shares of the company’s stock, valued at $4,796,497.64. The trade was a 17.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,514 shares of company stock worth $3,859,731 over the last three months. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Trading Down 0.8 %

Charles Schwab stock opened at $81.64 on Friday. The firm has a 50 day simple moving average of $78.06 and a 200-day simple moving average of $72.18. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The stock has a market capitalization of $145.29 billion, a PE ratio of 27.30, a price-to-earnings-growth ratio of 1.02 and a beta of 0.99. The Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $84.50.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.11. The business had revenue of $5.33 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The business’s revenue was up 19.5% on a year-over-year basis. During the same period last year, the firm posted $0.68 earnings per share. As a group, equities research analysts expect that The Charles Schwab Co. will post 4.18 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 1.32%. Charles Schwab’s dividend payout ratio (DPR) is 33.44%.

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.