Maryland State Retirement & Pension System Acquires 986 Shares of The Charles Schwab Co. (NYSE:SCHW)

Maryland State Retirement & Pension System increased its stake in The Charles Schwab Co. (NYSE:SCHW) by 0.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 116,372 shares of the financial services provider’s stock after purchasing an additional 986 shares during the period. Maryland State Retirement & Pension System’s holdings in Charles Schwab were worth $8,425,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its position in Charles Schwab by 33.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 69,360,233 shares of the financial services provider’s stock worth $4,771,985,000 after acquiring an additional 17,369,091 shares during the last quarter. Norges Bank bought a new position in shares of Charles Schwab in the fourth quarter worth approximately $950,192,000. Ameriprise Financial Inc. increased its stake in shares of Charles Schwab by 186.2% in the third quarter. Ameriprise Financial Inc. now owns 7,107,176 shares of the financial services provider’s stock worth $390,234,000 after buying an additional 4,624,302 shares during the period. Boston Partners raised its holdings in Charles Schwab by 424.7% during the 4th quarter. Boston Partners now owns 4,451,090 shares of the financial services provider’s stock valued at $305,400,000 after buying an additional 3,602,830 shares during the last quarter. Finally, Morningstar Investment Services LLC boosted its position in Charles Schwab by 98.0% during the 4th quarter. Morningstar Investment Services LLC now owns 4,691,362 shares of the financial services provider’s stock valued at $326,284,000 after buying an additional 2,322,156 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Stock Down 1.2 %

NYSE:SCHW traded down $0.87 during mid-day trading on Friday, hitting $73.26. 350,118 shares of the company’s stock were exchanged, compared to its average volume of 7,221,419. The Charles Schwab Co. has a one year low of $48.66 and a one year high of $79.49. The business has a fifty day moving average price of $74.34 and a 200 day moving average price of $69.94. The company has a market cap of $130.20 billion, a PE ratio of 31.02, a P/E/G ratio of 1.15 and a beta of 0.99. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.42 and a quick ratio of 0.42.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Monday, April 15th. The financial services provider reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.01. The company had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.71 billion. Charles Schwab had a return on equity of 19.25% and a net margin of 26.14%. Equities analysts predict that The Charles Schwab Co. will post 3.25 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend was Thursday, May 9th. Charles Schwab’s dividend payout ratio is presently 41.84%.

Insider Buying and Selling

In other Charles Schwab news, insider Nigel J. Murtagh sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $72.40, for a total transaction of $724,000.00. Following the completion of the sale, the insider now directly owns 71,446 shares in the company, valued at approximately $5,172,690.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $72.49, for a total transaction of $652,410.00. Following the sale, the director now directly owns 570,657 shares of the company’s stock, valued at $41,366,925.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Nigel J. Murtagh sold 10,000 shares of the business’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $72.40, for a total value of $724,000.00. Following the completion of the transaction, the insider now directly owns 71,446 shares of the company’s stock, valued at approximately $5,172,690.40. The disclosure for this sale can be found here. Insiders have sold a total of 658,663 shares of company stock worth $48,997,146 in the last quarter. Corporate insiders own 6.60% of the company’s stock.

Wall Street Analysts Forecast Growth

SCHW has been the subject of several recent analyst reports. Citigroup upped their price objective on shares of Charles Schwab from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. StockNews.com cut Charles Schwab from a “hold” rating to a “sell” rating in a report on Friday, May 24th. Piper Sandler boosted their target price on Charles Schwab from $75.00 to $78.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. JMP Securities reaffirmed a “market outperform” rating and issued a $80.00 price target on shares of Charles Schwab in a research note on Tuesday, May 28th. Finally, Barclays lifted their price target on shares of Charles Schwab from $74.00 to $75.00 and gave the company an “equal weight” rating in a report on Tuesday, April 16th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Charles Schwab currently has an average rating of “Hold” and an average target price of $75.56.

Charles Schwab Company 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.