California Public Employees Retirement System Has $209.92 Million Position in The Charles Schwab Co. (NYSE:SCHW)

California Public Employees Retirement System lessened its position in The Charles Schwab Co. (NYSE:SCHW) by 4.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,836,381 shares of the financial services provider’s stock after selling 139,010 shares during the quarter. California Public Employees Retirement System owned approximately 0.16% of Charles Schwab worth $209,921,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Charles Schwab in the fourth quarter valued at $1,289,544,000. Primecap Management Co. CA grew its position in shares of Charles Schwab by 310.3% in the 4th quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider’s stock valued at $314,716,000 after acquiring an additional 3,216,000 shares during the period. Franklin Resources Inc. increased its stake in shares of Charles Schwab by 15.0% during the 3rd quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock worth $1,644,674,000 after purchasing an additional 3,157,923 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Charles Schwab by 91.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,217,799 shares of the financial services provider’s stock valued at $460,179,000 after purchasing an additional 2,962,878 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Charles Schwab in the 4th quarter valued at about $189,791,000. Institutional investors own 84.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SCHW shares. Keefe, Bruyette & Woods boosted their price target on Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. Truist Financial upped their target price on Charles Schwab from $90.00 to $91.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Jefferies Financial Group boosted their target price on shares of Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Morgan Stanley increased their target price on shares of Charles Schwab from $84.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Finally, Citigroup lifted their price target on shares of Charles Schwab from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $86.33.

Charles Schwab Trading Down 2.3 %

Shares of Charles Schwab stock opened at $77.79 on Monday. The firm’s 50 day moving average is $79.55 and its 200 day moving average is $75.45. The firm has a market capitalization of $141.08 billion, a PE ratio of 26.02, a price-to-earnings-growth ratio of 0.99 and a beta of 0.98. The Charles Schwab Co. has a 1 year low of $61.01 and a 1 year high of $84.50. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The firm had revenue of $5.33 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter in the previous year, the firm posted $0.68 earnings per share. The company’s revenue was up 19.5% on a year-over-year basis. Equities research analysts forecast that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a $0.27 dividend. The ex-dividend date was Friday, February 14th. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 1.39%. Charles Schwab’s dividend payout ratio (DPR) is currently 36.12%.

Insider Activity

In other news, Director Arun Sarin sold 8,548 shares of the firm’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total transaction of $699,397.36. Following the completion of the transaction, the director now owns 18,617 shares of the company’s stock, valued at approximately $1,523,242.94. This trade represents a 31.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul V. Woolway sold 8,614 shares of the stock in a transaction 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 owns 49,204 shares of the company’s stock, valued at $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 three months, insiders have sold 509,701 shares of company stock valued at $41,641,353. 6.60% of the stock is currently owned by corporate insiders.

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.