Illinois Municipal Retirement Fund Sells 8,142 Shares of The Charles Schwab Co. (NYSE:SCHW)

Illinois Municipal Retirement Fund trimmed its holdings in The Charles Schwab Co. (NYSE:SCHW) by 24.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,818 shares of the financial services provider’s stock after selling 8,142 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Charles Schwab were worth $1,911,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SCHW. Washington Trust Advisors Inc. boosted its stake in Charles Schwab by 62.6% in the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 149 shares during the period. Capital Performance Advisors LLP bought a new position in Charles Schwab in the 3rd quarter worth approximately $25,000. Prospera Private Wealth LLC bought a new position in Charles Schwab in the 3rd quarter worth approximately $31,000. Hazlett Burt & Watson Inc. bought a new position in Charles Schwab in the 3rd quarter worth approximately $33,000. Finally, Planning Capital Management Corp bought a new position in Charles Schwab in the 3rd quarter worth approximately $33,000. 84.38% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SCHW shares. JPMorgan Chase & Co. upped their price target on Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Piper Sandler increased their target price on Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Jefferies Financial Group increased their target price on Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Truist Financial increased their target price on Charles Schwab from $90.00 to $91.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Finally, UBS Group increased their target price on Charles Schwab from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $86.33.

Charles Schwab Stock Performance

SCHW stock opened at $79.71 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The business’s fifty day simple moving average is $78.37 and its two-hundred day simple moving average is $73.54. The Charles Schwab Co. has a twelve month low of $61.01 and a twelve month high of $84.50. The firm has a market cap of $141.99 billion, a price-to-earnings ratio of 26.66, a PEG ratio of 0.99 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The business had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same quarter last year, the firm posted $0.68 earnings per share. The business’s revenue was up 19.5% compared to the same quarter last year. Analysts predict that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a $0.27 dividend. This is a positive change 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 dividend on an annualized basis and a yield of 1.35%. Charles Schwab’s dividend payout ratio (DPR) is presently 36.12%.

Insiders Place Their Bets

In other news, General Counsel Peter J. Morgan III sold 14,643 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total transaction of $1,181,690.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Walter W. Bettinger sold 464,629 shares of the firm’s stock in a transaction on 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 transaction, the chairman now owns 827,377 shares in the company, valued at approximately $67,770,450.07. This represents a 35.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 487,820 shares of company stock worth $39,938,849 over the last quarter. 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.