California Public Employees Retirement System Sells 139,010 Shares of The Charles Schwab Co. (NYSE:SCHW)

California Public Employees Retirement System reduced its holdings in The Charles Schwab Co. (NYSE:SCHW) by 4.7% in the fourth quarter, HoldingsChannel reports. The firm owned 2,836,381 shares of the financial services provider’s stock after selling 139,010 shares during the period. California Public Employees Retirement System’s holdings in Charles Schwab were worth $209,921,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Charles Schwab during the 4th quarter valued at $1,289,544,000. Primecap Management Co. CA increased its stake in Charles Schwab by 310.3% in the fourth quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider’s stock valued at $314,716,000 after purchasing an additional 3,216,000 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Charles Schwab by 15.0% during the third quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock valued at $1,644,674,000 after purchasing an additional 3,157,923 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of Charles Schwab by 91.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,217,799 shares of the financial services provider’s stock valued at $460,179,000 after purchasing an additional 2,962,878 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Charles Schwab during the 4th quarter worth about $189,791,000. 84.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on SCHW shares. Jefferies Financial Group upped their price target on Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Barclays upped their target price on Charles Schwab from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Redburn Partners reduced their price target on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating for the company in a research report on Friday, January 17th. Truist Financial upped their price objective on shares of Charles Schwab from $90.00 to $91.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Charles Schwab from $87.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Charles Schwab currently has an average rating of “Hold” and an average price target of $86.33.

Insider Buying and Selling at Charles Schwab

In other news, Chairman Walter W. Bettinger sold 464,629 shares of Charles Schwab stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total value of $38,057,761.39. Following the completion of the transaction, the chairman now owns 827,377 shares in the company, valued at $67,770,450.07. This trade represents a 35.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arun Sarin sold 8,548 shares of the business’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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 509,701 shares of company stock valued at $41,641,353. Company insiders own 6.60% of the company’s stock.

Charles Schwab Stock Down 2.3 %

Shares of NYSE:SCHW opened at $77.79 on Monday. The Charles Schwab Co. has a 1 year low of $61.01 and a 1 year high of $84.50. The company has a market capitalization of $141.08 billion, a PE ratio of 26.02, a price-to-earnings-growth ratio of 0.99 and a beta of 0.98. The business has a fifty day moving average price of $79.55 and a two-hundred day moving average price of $75.45. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47.

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, topping analysts’ consensus estimates of $0.90 by $0.11. The business had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The firm’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.68 earnings per share. Analysts forecast that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a $0.27 dividend. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.08 annualized dividend and a yield of 1.39%. Charles Schwab’s dividend payout ratio is presently 36.12%.

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.