The Charles Schwab Co. (NYSE:SCHW) Shares Purchased by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury grew its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 7.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 560,942 shares of the financial services provider’s stock after buying an additional 40,997 shares during the period. State of Tennessee Department of Treasury’s holdings in Charles Schwab were worth $41,515,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Charles Schwab in the 4th quarter worth approximately $38,000. Atala Financial Inc bought a new stake in shares of Charles Schwab in the 4th quarter worth $41,000. Knuff & Co LLC raised its stake in shares of Charles Schwab by 1,309.3% in the 4th quarter. Knuff & Co LLC now owns 606 shares of the financial services provider’s stock worth $45,000 after buying an additional 563 shares in the last quarter. Financial Life Planners bought a new position in Charles Schwab during the fourth quarter valued at about $46,000. Finally, Whipplewood Advisors LLC acquired a new position in Charles Schwab during the fourth quarter worth about $46,000. 84.38% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Chairman Walter W. Bettinger sold 464,629 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the transaction, the chairman now owns 827,377 shares of the company’s stock, valued at approximately $67,770,450.07. This represents a 35.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul V. Woolway sold 9,887 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $75.38, for a total value of $745,282.06. Following the completion of the sale, the insider now owns 47,931 shares of the company’s stock, valued at approximately $3,613,038.78. This trade represents a 17.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 513,081 shares of company stock valued at $41,903,066 over the last three months. 6.30% of the stock is currently owned by insiders.

Charles Schwab Stock Down 1.3 %

SCHW opened at $75.13 on Tuesday. The company has a market capitalization of $136.25 billion, a PE ratio of 25.13, a price-to-earnings-growth ratio of 0.99 and a beta of 0.91. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The Charles Schwab Co. has a fifty-two week low of $61.01 and a fifty-two week high of $84.50. The business has a 50-day moving average of $77.02 and a 200-day moving average of $76.74.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.03. The firm had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.46 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. During the same quarter last year, the firm earned $0.74 earnings per share. Equities research analysts forecast that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a $0.27 dividend. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a yield of 1.44%. Charles Schwab’s dividend payout ratio is currently 36.12%.

Analyst Ratings Changes

SCHW has been the subject of several research reports. Morgan Stanley upgraded shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and set a $76.00 price objective for the company in a research report on Tuesday, April 8th. Wells Fargo & Company decreased their price target on shares of Charles Schwab from $93.00 to $87.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. JMP Securities reissued a “market outperform” rating and set a $94.00 price objective on shares of Charles Schwab in a research note on Monday. JPMorgan Chase & Co. upped their target price on Charles Schwab from $92.00 to $95.00 and gave the company an “overweight” rating in a report on Monday. Finally, Redburn Partners cut their price objective on Charles Schwab from $70.00 to $68.00 and set a “sell” rating on the stock in a report on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $85.56.

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.