Maryland State Retirement & Pension System Has $7.57 Million Stake in The Charles Schwab Corporation $SCHW

Maryland State Retirement & Pension System raised its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 7.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 82,951 shares of the financial services provider’s stock after acquiring an additional 5,473 shares during the period. Maryland State Retirement & Pension System’s holdings in Charles Schwab were worth $7,568,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SCHW. Dempze Nancy E acquired a new stake in shares of Charles Schwab in the second quarter valued at approximately $680,000. Clear Creek Financial Management LLC acquired a new stake in shares of Charles Schwab in the second quarter valued at approximately $228,000. Ignite Planners LLC acquired a new stake in shares of Charles Schwab in the second quarter valued at approximately $218,000. H&H Retirement Design & Management INC increased its holdings in shares of Charles Schwab by 2.7% in the second quarter. H&H Retirement Design & Management INC now owns 11,536 shares of the financial services provider’s stock valued at $1,110,000 after purchasing an additional 299 shares in the last quarter. Finally, Nelson Capital Management LLC increased its holdings in shares of Charles Schwab by 0.7% in the second quarter. Nelson Capital Management LLC now owns 38,632 shares of the financial services provider’s stock valued at $3,525,000 after purchasing an additional 260 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. JMP Securities raised their price target on shares of Charles Schwab from $106.00 to $110.00 and gave the company a “market outperform” rating in a report on Monday, July 21st. Raymond James Financial reissued an “outperform” rating and issued a $99.00 price target on shares of Charles Schwab in a report on Friday, July 18th. Piper Sandler raised their price target on shares of Charles Schwab from $80.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, July 15th. Citigroup raised their price target on shares of Charles Schwab from $105.00 to $110.00 and gave the company a “buy” rating in a report on Monday, July 21st. Finally, Wells Fargo & Company set a $102.00 target price on shares of Charles Schwab and gave the stock an “overweight” rating in a report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $100.57.

Insider Activity at Charles Schwab

In other news, insider Nigel J. Murtagh sold 24,096 shares of Charles Schwab stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $97.91, for a total transaction of $2,359,239.36. Following the transaction, the insider directly owned 58,999 shares of the company’s stock, valued at $5,776,592.09. This trade represents a 29.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul V. Woolway sold 3,290 shares of Charles Schwab stock in a transaction on Friday, August 1st. The stock was sold at an average price of $96.06, for a total transaction of $316,037.40. Following the transaction, the insider directly owned 41,188 shares in the company, valued at approximately $3,956,519.28. This represents a 7.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 267,128 shares of company stock valued at $26,232,077. 6.30% of the stock is owned by corporate insiders.

Charles Schwab Price Performance

SCHW opened at $93.82 on Thursday. The company has a fifty day moving average price of $95.11 and a two-hundred day moving average price of $88.89. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55. The Charles Schwab Corporation has a 52 week low of $64.97 and a 52 week high of $99.59. The firm has a market capitalization of $170.30 billion, a PE ratio of 25.22, a P/E/G ratio of 0.91 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The company had revenue of $5.85 billion for the quarter, compared to analysts’ expectations of $5.64 billion. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The business’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same period last year, the firm posted $0.73 earnings per share. As a group, analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab’s dividend payout ratio (DPR) is currently 29.03%.

Charles Schwab announced that its board has approved a stock repurchase plan on Thursday, July 24th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 11.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Charles Schwab Company 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.