The Charles Schwab Co. (NYSE:SCHW) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 4.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,293,414 shares of the financial services provider’s stock after selling 63,081 shares during the quarter. New York State Teachers Retirement System owned approximately 0.07% of Charles Schwab worth $83,826,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Country Trust Bank bought a new position in shares of Charles Schwab in the second quarter valued at approximately $26,000. American Capital Advisory LLC acquired a new stake in Charles Schwab during the 2nd quarter valued at $27,000. Fortitude Family Office LLC lifted its holdings in shares of Charles Schwab by 97.5% in the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 192 shares in the last quarter. CGC Financial Services LLC acquired a new stake in shares of Charles Schwab in the second quarter worth $29,000. Finally, Mizuho Securities Co. Ltd. purchased a new position in shares of Charles Schwab during the second quarter valued at $29,000. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Down 0.3 %

Shares of Charles Schwab stock traded down $0.24 during trading hours on Wednesday, reaching $71.65. 608,801 shares of the company’s stock were exchanged, compared to its average volume of 8,004,828. The stock has a market cap of $127.34 billion, a P/E ratio of 30.10, a P/E/G ratio of 1.65 and a beta of 0.97. The company has a 50 day moving average of $66.00 and a two-hundred day moving average of $69.51. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65. The Charles Schwab Co. has a fifty-two week low of $50.30 and a fifty-two week high of $79.49.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.02. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. Charles Schwab had a return on equity of 17.52% and a net margin of 27.47%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.77 EPS. On average, sell-side analysts forecast that The Charles Schwab Co. will post 3.11 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 1.40%. Charles Schwab’s dividend payout ratio is presently 41.84%.

Analyst Upgrades and Downgrades

SCHW has been the subject of a number of research reports. The Goldman Sachs Group raised their price objective on Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Charles Schwab from $77.00 to $76.00 in a report on Tuesday, October 15th. UBS Group lowered their target price on Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Keefe, Bruyette & Woods boosted their price target on Charles Schwab from $76.00 to $81.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Jefferies Financial Group lowered their price objective on Charles Schwab from $79.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $73.94.

Insider Activity

In other news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $72.16, for a total value of $2,150,368.00. Following the completion of the transaction, the director now directly owns 551,329 shares in the company, valued at approximately $39,783,900.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $72.16, for a total transaction of $2,150,368.00. Following the completion of the transaction, the director now owns 551,329 shares in the company, valued at approximately $39,783,900.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Charles R. Schwab sold 62,345 shares of Charles Schwab stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the transaction, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at $4,396,116,784.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 114,615 shares of company stock worth $8,125,089. 6.60% 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.