State of New Jersey Common Pension Fund D Boosts Stake in The Charles Schwab Co. (NYSE:SCHW)

State of New Jersey Common Pension Fund D raised its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 5.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 588,043 shares of the financial services provider’s stock after buying an additional 31,541 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Charles Schwab were worth $43,521,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Merit Financial Group LLC grew its position in Charles Schwab by 230.1% during the fourth quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider’s stock worth $2,483,000 after buying an additional 23,383 shares in the last quarter. Benjamin Edwards Inc. grew its position in Charles Schwab by 2,840.7% during the third quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock worth $398,000 after buying an additional 5,937 shares in the last quarter. Synovus Financial Corp grew its position in Charles Schwab by 46.0% during the third quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock worth $4,400,000 after buying an additional 21,377 shares in the last quarter. Oregon Pacific Wealth Management LLC purchased a new position in Charles Schwab during the fourth quarter worth about $688,000. Finally, Golden State Equity Partners grew its position in Charles Schwab by 293.9% during the fourth quarter. Golden State Equity Partners now owns 12,207 shares of the financial services provider’s stock worth $903,000 after buying an additional 9,108 shares in the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Charles Schwab Trading Down 1.5 %

SCHW opened at $80.32 on Monday. The business has a 50 day simple moving average of $78.03 and a two-hundred day simple moving average of $72.40. The firm has a market capitalization of $142.94 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 1.02 and a beta of 0.99. 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 one year low of $61.01 and a one year high of $84.50.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. The business had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. Charles Schwab’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.68 EPS. Analysts predict that The Charles Schwab Co. will post 4.18 EPS for the current year.

Charles Schwab Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a dividend of $0.27 per share. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.34%. Charles Schwab’s dividend payout ratio is presently 33.44%.

Analyst Ratings Changes

Several equities analysts recently commented on SCHW shares. Piper Sandler boosted their target price on Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft upped their price objective on Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Citigroup upped their price objective on Charles Schwab from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Barclays upped their price objective on Charles Schwab from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Finally, Jefferies Financial Group upped their price objective on Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Charles Schwab currently has an average rating of “Hold” and an average target price of $84.56.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,300 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $82.01, for a total transaction of $188,623.00. Following the transaction, the insider now owns 18,069 shares in the company, valued at approximately $1,481,838.69. This represents a 11.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Walter W. Bettinger sold 464,629 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total value of $38,057,761.39. Following the transaction, the chairman now owns 827,377 shares in the company, valued at $67,770,450.07. This trade represents a 35.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 502,859 shares of company stock valued at $41,161,496 in the last 90 days. Insiders own 6.60% of the company’s stock.

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.