Police & Firemen s Retirement System of New Jersey Has $23.67 Million Holdings in The Charles Schwab Corporation $SCHW

Police & Firemen s Retirement System of New Jersey boosted its stake in The Charles Schwab Corporation (NYSE:SCHW) by 7.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 259,394 shares of the financial services provider’s stock after buying an additional 17,987 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Charles Schwab were worth $23,667,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of SCHW. Vanguard Personalized Indexing Management LLC increased its holdings in Charles Schwab by 26.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 190,538 shares of the financial services provider’s stock valued at $17,387,000 after purchasing an additional 40,275 shares in the last quarter. Bain Capital Public Equity Management II LLC bought a new stake in shares of Charles Schwab during the first quarter worth $79,605,000. Independent Advisor Alliance increased its stake in shares of Charles Schwab by 13.8% in the first quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider’s stock valued at $3,061,000 after buying an additional 4,754 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in shares of Charles Schwab by 6.2% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,181,563 shares of the financial services provider’s stock valued at $92,493,000 after buying an additional 68,858 shares during the last quarter. Finally, PFG Investments LLC lifted its position in Charles Schwab by 10.2% during the 2nd quarter. PFG Investments LLC now owns 5,951 shares of the financial services provider’s stock worth $543,000 after buying an additional 550 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. BMO Capital Markets assumed coverage on shares of Charles Schwab in a research report on Friday, October 3rd. They issued an “outperform” rating and a $110.00 price objective for the company. Truist Financial raised their price target on shares of Charles Schwab from $112.00 to $113.00 and gave the company a “buy” rating in a report on Friday, October 17th. Keefe, Bruyette & Woods boosted their price objective on shares of Charles Schwab from $109.00 to $111.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Cowen reiterated a “buy” rating on shares of Charles Schwab in a research report on Friday, October 17th. Finally, Morgan Stanley boosted their target price on Charles Schwab from $130.00 to $139.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued 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 company presently has a consensus rating of “Moderate Buy” and an average price target of $106.45.

Charles Schwab Stock Up 1.7%

NYSE:SCHW opened at $97.71 on Thursday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The Charles Schwab Corporation has a 12-month low of $65.88 and a 12-month high of $99.59. The stock’s fifty day simple moving average is $94.06 and its 200-day simple moving average is $92.23. The firm has a market capitalization of $173.63 billion, a P/E ratio of 22.88, a P/E/G ratio of 0.85 and a beta of 1.02.

Charles Schwab (NYSE:SCHW) last released its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.06. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The firm had revenue of $6.38 billion for the quarter, compared to analyst estimates of $5.93 billion. During the same quarter in the prior year, the firm posted $0.71 earnings per share. The company’s quarterly revenue was up 26.6% on a year-over-year basis. Equities research analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.08 annualized dividend and a yield of 1.1%. Charles Schwab’s dividend payout ratio (DPR) is presently 25.29%.

Charles Schwab announced that its board has approved a share buyback program on Thursday, July 24th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 11.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at Charles Schwab

In other Charles Schwab news, insider Paul V. Woolway sold 3,205 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $93.33, for a total value of $299,122.65. Following the sale, the insider directly owned 34,778 shares in the company, valued at approximately $3,245,830.74. This trade represents a 8.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jonathan S. Beatty sold 6,144 shares of the business’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $96.81, for a total transaction of $594,800.64. Following the completion of the transaction, the insider directly owned 11,923 shares of the company’s stock, valued at $1,154,265.63. This trade represents a 34.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 65,866 shares of company stock worth $6,370,897. 6.30% of the stock is currently owned by company insiders.

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.