State of Alaska Department of Revenue Has $15.63 Million Holdings in The Charles Schwab Corporation (NYSE:SCHW)

State of Alaska Department of Revenue boosted its stake in The Charles Schwab Corporation (NYSE:SCHW) by 17.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 199,687 shares of the financial services provider’s stock after purchasing an additional 29,255 shares during the quarter. State of Alaska Department of Revenue’s holdings in Charles Schwab were worth $15,631,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cary Street Partners Financial LLC bought a new stake in Charles Schwab in the fourth quarter valued at about $1,455,000. Banco Santander S.A. increased its holdings in Charles Schwab by 49.6% in the fourth quarter. Banco Santander S.A. now owns 16,316 shares of the financial services provider’s stock valued at $1,208,000 after purchasing an additional 5,413 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Charles Schwab by 0.6% in the fourth quarter. Bank of New York Mellon Corp now owns 10,438,852 shares of the financial services provider’s stock valued at $772,579,000 after purchasing an additional 60,683 shares during the last quarter. Paradigm Asset Management Co. LLC increased its holdings in Charles Schwab by 217.0% in the fourth quarter. Paradigm Asset Management Co. LLC now owns 48,350 shares of the financial services provider’s stock valued at $3,578,000 after purchasing an additional 33,100 shares during the last quarter. Finally, Graham Capital Management L.P. increased its holdings in Charles Schwab by 248.3% in the fourth quarter. Graham Capital Management L.P. now owns 112,376 shares of the financial services provider’s stock valued at $8,317,000 after purchasing an additional 80,112 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Insider Activity at Charles Schwab

In other news, Director Frank C. Herringer sold 3,592 shares of the firm’s stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $74.26, for a total value of $266,741.92. Following the completion of the sale, the director now directly owns 172,162 shares of the company’s stock, valued at $12,784,750.12. This trade represents a 2.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Paul V. Woolway sold 8,614 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $80.00, for a total value of $689,120.00. Following the completion of the sale, the insider now directly owns 49,204 shares of the company’s stock, valued at approximately $3,936,320. The trade was a 14.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 97,608 shares of company stock valued at $8,392,040. Insiders own 6.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on SCHW shares. Barclays dropped their price objective on Charles Schwab from $96.00 to $84.00 and set an “overweight” rating for the company in a report on Monday, April 7th. Citigroup upgraded Charles Schwab from a “neutral” rating to a “buy” rating and increased their price target for the stock from $85.00 to $102.00 in a report on Wednesday, April 2nd. TD Securities increased their price target on Charles Schwab from $95.00 to $113.00 and gave the stock a “buy” rating in a report on Tuesday, May 20th. The Goldman Sachs Group upgraded Charles Schwab from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a report on Friday, April 25th. Finally, Redburn Atlantic upgraded Charles Schwab from a “sell” rating to a “neutral” rating and increased their price target for the stock from $65.00 to $82.00 in a report on Monday, June 9th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $89.40.

Charles Schwab Stock Down 0.0%

SCHW stock opened at $88.95 on Wednesday. The business has a 50-day moving average of $83.96 and a 200-day moving average of $79.94. The Charles Schwab Corporation has a fifty-two week low of $61.01 and a fifty-two week high of $89.85. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.53 and a quick ratio of 0.53. The stock has a market capitalization of $161.61 billion, a P/E ratio of 26.95, a P/E/G ratio of 0.95 and a beta of 0.94.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, beating the consensus estimate of $1.01 by $0.03. Charles Schwab had a return on equity of 18.31% and a net margin of 31.71%. The firm had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.46 billion. During the same period in the prior year, the firm posted $0.74 earnings per share. On average, sell-side analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were given a dividend of $0.27 per share. The ex-dividend date was Friday, May 9th. This represents a $1.08 annualized dividend and a yield of 1.21%. Charles Schwab’s dividend payout ratio (DPR) is presently 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.