California State Teachers Retirement System Purchases 98,183 Shares of The Charles Schwab Co. (NYSE:SCHW)

California State Teachers Retirement System lifted its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 4.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,507,712 shares of the financial services provider’s stock after purchasing an additional 98,183 shares during the period. California State Teachers Retirement System owned about 0.14% of Charles Schwab worth $185,596,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Merit Financial Group LLC increased its position in 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 valued at $2,483,000 after purchasing an additional 23,383 shares during the period. Synovus Financial Corp increased its position in shares of Charles Schwab by 46.0% during the third 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 period. Oregon Pacific Wealth Management LLC bought a new position in Charles Schwab during the fourth quarter worth $688,000. Golden State Equity Partners lifted its holdings in Charles Schwab by 293.9% in the fourth quarter. Golden State Equity Partners now owns 12,207 shares of the financial services provider’s stock valued at $903,000 after buying an additional 9,108 shares during the period. Finally, Asset Management One Co. Ltd. grew its holdings in Charles Schwab by 7.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 637,957 shares of the financial services provider’s stock worth $47,674,000 after acquiring an additional 43,308 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Buying and Selling at Charles Schwab

In related news, Director Frank C. Herringer sold 3,592 shares of the business’s stock in a transaction on Monday, April 21st. The stock was sold at an average price of $74.26, for a total transaction of $266,741.92. Following the sale, the director now directly owns 172,162 shares in the company, valued at approximately $12,784,750.12. The trade was a 2.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Walter W. Bettinger sold 464,629 shares of Charles Schwab stock in a transaction that occurred on Wednesday, February 12th. The stock was 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 directly 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 disclosure for this sale can be found here. Insiders have sold a total of 493,482 shares of company stock worth $40,288,720 over the last ninety days. 6.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Barclays dropped their price objective on Charles Schwab from $96.00 to $84.00 and set an “overweight” rating on the stock in a research note on Monday, April 7th. Piper Sandler increased their price target on Charles Schwab from $74.00 to $80.00 in a report on Thursday, April 17th. Morgan Stanley upgraded shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and set a $76.00 price objective for the company in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods raised their price target on shares of Charles Schwab from $90.00 to $93.00 and gave the stock an “outperform” rating in a report on Tuesday, April 22nd. Finally, Wells Fargo & Company dropped their price objective on shares of Charles Schwab from $93.00 to $87.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $87.22.

Charles Schwab Trading Up 0.7 %

Shares of Charles Schwab stock opened at $79.96 on Monday. The stock has a fifty day moving average price of $76.82 and a 200-day moving average price of $77.10. 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 firm has a market cap of $145.01 billion, a PE ratio of 26.74, a P/E/G ratio of 0.99 and a beta of 0.91. The Charles Schwab Co. has a 1 year low of $61.01 and a 1 year high of $84.50.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, topping the consensus estimate of $1.01 by $0.03. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The business had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.46 billion. During the same quarter in the previous year, the firm posted $0.74 earnings per share. Equities research analysts anticipate that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 9th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date is Friday, May 9th. Charles Schwab’s dividend payout ratio is currently 32.73%.

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.