Retirement Systems of Alabama Has $72.05 Million Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Retirement Systems of Alabama lessened its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 1.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,111,755 shares of the financial services provider’s stock after selling 11,161 shares during the quarter. Retirement Systems of Alabama owned approximately 0.06% of Charles Schwab worth $72,053,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Diversified Trust Co grew its position in Charles Schwab by 26.0% during the 2nd quarter. Diversified Trust Co now owns 7,737 shares of the financial services provider’s stock worth $570,000 after acquiring an additional 1,595 shares during the last quarter. Swedbank AB grew its holdings in shares of Charles Schwab by 3.6% during the second quarter. Swedbank AB now owns 583,562 shares of the financial services provider’s stock worth $43,003,000 after purchasing an additional 20,411 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Charles Schwab by 35.7% in the second quarter. Blue Trust Inc. now owns 13,704 shares of the financial services provider’s stock valued at $991,000 after buying an additional 3,608 shares in the last quarter. Timber Creek Capital Management LLC raised its holdings in shares of Charles Schwab by 1.5% in the second quarter. Timber Creek Capital Management LLC now owns 115,038 shares of the financial services provider’s stock valued at $8,477,000 after buying an additional 1,674 shares during the last quarter. Finally, Sutton Place Investors LLC lifted its position in Charles Schwab by 2.1% during the 2nd quarter. Sutton Place Investors LLC now owns 8,086 shares of the financial services provider’s stock worth $596,000 after buying an additional 167 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

Charles Schwab Stock Down 1.1 %

SCHW stock traded down $0.89 during mid-day trading on Friday, reaching $81.96. The company had a trading volume of 475,311 shares, compared to its average volume of 7,960,227. The company has a market capitalization of $145.86 billion, a price-to-earnings ratio of 32.36, a PEG ratio of 1.79 and a beta of 0.96. The Charles Schwab Co. has a 52 week low of $59.67 and a 52 week high of $83.35. The stock has a 50 day simple moving average of $75.55 and a two-hundred day simple moving average of $70.41. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The business had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the previous year, the company earned $0.77 earnings per share. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, equities analysts predict that The Charles Schwab Co. will post 3.12 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were given a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.22%. Charles Schwab’s dividend payout ratio (DPR) is 39.06%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. JMP Securities restated a “market outperform” rating and issued a $94.00 price objective (up previously from $84.00) on shares of Charles Schwab in a research report on Monday. Morgan Stanley upped their price target on Charles Schwab from $68.00 to $74.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. lifted their price objective on Charles Schwab from $86.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Raymond James cut their target price on shares of Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Charles Schwab from $76.00 to $81.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $79.75.

Insider Buying and Selling at Charles Schwab

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total transaction of $576,450.00. Following the transaction, the director now directly owns 554,929 shares of the company’s stock, valued at approximately $35,543,202.45. This trade represents a 1.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jonathan S. Beatty sold 2,500 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $77.02, for a total transaction of $192,550.00. Following the completion of the sale, the insider now directly owns 18,069 shares of the company’s stock, valued at $1,391,674.38. This represents a 12.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 127,968 shares of company stock worth $9,419,271 over the last ninety days. 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.