Kentucky Retirement Systems Sells 518 Shares of The Charles Schwab Co. (NYSE:SCHW)

Kentucky Retirement Systems cut its holdings in The Charles Schwab Co. (NYSE:SCHW) by 0.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 112,501 shares of the financial services provider’s stock after selling 518 shares during the period. Kentucky Retirement Systems’ holdings in Charles Schwab were worth $8,290,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Morningstar Investment Services LLC grew its position in shares of 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 acquiring an additional 2,322,156 shares during the period. M&G Plc purchased a new stake in Charles Schwab in the first quarter worth $11,452,000. Daiwa Securities Group Inc. increased its position in Charles Schwab by 10.4% in the first quarter. Daiwa Securities Group Inc. now owns 190,597 shares of the financial services provider’s stock worth $13,788,000 after buying an additional 17,925 shares during the last quarter. Wedmont Private Capital raised its stake in shares of Charles Schwab by 12.2% in the first quarter. Wedmont Private Capital now owns 13,130 shares of the financial services provider’s stock valued at $949,000 after buying an additional 1,430 shares during the period. Finally, Bridgewater Associates LP lifted its position in shares of Charles Schwab by 217.8% during the 4th quarter. Bridgewater Associates LP now owns 194,339 shares of the financial services provider’s stock valued at $13,371,000 after buying an additional 133,186 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Stock Performance

NYSE:SCHW opened at $63.56 on Thursday. The stock has a market cap of $112.96 billion, a P/E ratio of 26.59, a PEG ratio of 1.16 and a beta of 0.97. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65. The business’s 50-day moving average price is $64.70 and its two-hundred day moving average price is $69.98. The Charles Schwab Co. has a twelve month low of $48.66 and a twelve month high of $79.49.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. The business had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.68 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. Charles Schwab’s quarterly revenue was up .7% on a year-over-year basis. During the same period last year, the firm posted $0.75 earnings per share. As a group, equities analysts predict that The Charles Schwab Co. will post 3.05 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.00 annualized dividend and a yield of 1.57%. Charles Schwab’s dividend payout ratio (DPR) is presently 41.84%.

Analyst Upgrades and Downgrades

SCHW has been the topic of a number of research reports. JPMorgan Chase & Co. lowered their price objective on Charles Schwab from $82.00 to $78.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 17th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $80.00 price target on shares of Charles Schwab in a research report on Thursday, August 22nd. Barclays cut their price objective on shares of Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating for the company in a report on Wednesday, July 17th. JMP Securities lowered their target price on shares of Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating on the stock in a report on Tuesday, July 23rd. Finally, UBS Group cut their price target on Charles Schwab from $91.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $73.75.

Insider Activity at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 780 shares of Charles Schwab stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $75.00, for a total transaction of $58,500.00. Following the completion of the sale, the insider now owns 18,069 shares of the company’s stock, valued at $1,355,175. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Charles Schwab news, CEO Walter W. Bettinger purchased 25,000 shares of the firm’s stock in a transaction on Wednesday, July 17th. The shares were purchased at an average cost of $66.26 per share, with a total value of $1,656,500.00. Following the completion of the purchase, the chief executive officer now owns 827,377 shares of the company’s stock, valued at approximately $54,822,000.02. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jonathan S. Beatty sold 780 shares of the company’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $75.00, for a total transaction of $58,500.00. Following the completion of the sale, the insider now directly owns 18,069 shares of the company’s stock, valued at approximately $1,355,175. The disclosure for this sale can be found here. Insiders have sold a total of 90,636 shares of company stock valued at $5,880,654 over the last 90 days. 6.60% of the stock is owned by 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.