Public Sector Pension Investment Board Has $18.66 Million Position in The Charles Schwab Co. (NYSE:SCHW)

Public Sector Pension Investment Board grew its holdings in The Charles Schwab Co. (NYSE:SCHW) by 8.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 253,182 shares of the financial services provider’s stock after buying an additional 18,979 shares during the quarter. Public Sector Pension Investment Board’s holdings in Charles Schwab were worth $18,657,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Charles Schwab by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider’s stock valued at $8,750,473,000 after purchasing an additional 1,042,823 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Charles Schwab by 4.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock worth $5,230,657,000 after acquiring an additional 2,946,327 shares during the last quarter. Fisher Asset Management LLC grew its position in Charles Schwab by 1.6% during the 4th quarter. Fisher Asset Management LLC now owns 18,623,505 shares of the financial services provider’s stock worth $1,281,297,000 after acquiring an additional 292,155 shares during the last quarter. Putnam Investments LLC increased its holdings in Charles Schwab by 4.8% during the 4th quarter. Putnam Investments LLC now owns 12,237,705 shares of the financial services provider’s stock valued at $841,954,000 after purchasing an additional 560,110 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in Charles Schwab by 13.3% in the 4th quarter. Wellington Management Group LLP now owns 11,668,610 shares of the financial services provider’s stock valued at $802,800,000 after purchasing an additional 1,373,223 shares during the last quarter. 84.38% of the stock is owned by institutional investors.

Charles Schwab Stock Up 1.0 %

NYSE:SCHW opened at $65.39 on Monday. The stock has a 50-day simple moving average of $64.28 and a 200 day simple moving average of $69.96. The Charles Schwab Co. has a 52-week low of $48.66 and a 52-week high of $79.49. The company has a market cap of $116.22 billion, a PE ratio of 27.36, a PEG ratio of 1.19 and a beta of 0.97. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42.

Charles Schwab (NYSE:SCHW) last released 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. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.68 billion. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.75 earnings per share. On average, sell-side analysts expect that The Charles Schwab Co. will post 3.05 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a dividend of $0.25 per share. The ex-dividend date was Friday, August 9th. This represents a $1.00 annualized dividend and a yield of 1.53%. Charles Schwab’s dividend payout ratio (DPR) is presently 41.84%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SCHW. UBS Group decreased their target price on Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Piper Sandler lowered shares of Charles Schwab from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $80.00 to $64.00 in a report on Monday, July 29th. JMP Securities dropped their target price on shares of Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating for the company in a research note on Tuesday, July 23rd. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $80.00 price target on shares of Charles Schwab in a research note on Thursday, August 22nd. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Charles Schwab from $79.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $73.75.

Insider Buying and Selling at Charles Schwab

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total transaction of $576,450.00. Following the sale, the director now owns 554,929 shares in the company, valued at approximately $35,543,202.45. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, President Richard A. Wurster acquired 10,000 shares of the business’s stock in a transaction on Wednesday, July 17th. The stock was purchased at an average cost of $62.05 per share, for a total transaction of $620,500.00. Following the completion of the transaction, the president now directly owns 144,228 shares of the company’s stock, valued at approximately $8,949,347.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total value of $576,450.00. Following the transaction, the director now owns 554,929 shares in the company, valued at approximately $35,543,202.45. The disclosure for this sale can be found here. Insiders sold a total of 99,636 shares of company stock worth $6,457,104 over the last ninety days. 6.60% of the stock is currently owned by corporate insiders.

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.