State of Michigan Retirement System Sells 1,100 Shares of The Charles Schwab Co. (NYSE:SCHW)

State of Michigan Retirement System decreased its holdings in The Charles Schwab Co. (NYSE:SCHW) by 0.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 405,766 shares of the financial services provider’s stock after selling 1,100 shares during the quarter. State of Michigan Retirement System’s holdings in Charles Schwab were worth $30,031,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. State Street Corp grew its stake in shares of Charles Schwab by 0.7% in the third quarter. State Street Corp now owns 62,076,447 shares of the financial services provider’s stock worth $4,023,175,000 after purchasing an additional 414,949 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Charles Schwab by 1.5% in the third quarter. Geode Capital Management LLC now owns 30,141,441 shares of the financial services provider’s stock worth $1,945,614,000 after purchasing an additional 445,304 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Charles Schwab by 6.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock valued at $1,858,706,000 after acquiring an additional 1,711,312 shares during the last quarter. Franklin Resources Inc. boosted its position in Charles Schwab by 15.0% during the third quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock valued at $1,644,674,000 after acquiring an additional 3,157,923 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in Charles Schwab by 1.3% during the fourth quarter. Fisher Asset Management LLC now owns 20,455,266 shares of the financial services provider’s stock valued at $1,513,894,000 after acquiring an additional 265,708 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Insiders Place Their Bets

In other Charles Schwab news, Chairman Walter W. Bettinger sold 464,629 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total value of $38,057,761.39. Following the completion of the sale, the chairman now directly 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 document filed with the SEC, which is accessible through the SEC website. Also, Director Arun Sarin sold 8,548 shares of the stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total transaction of $699,397.36. Following the transaction, the director now directly owns 18,617 shares of the company’s stock, valued at $1,523,242.94. This represents a 31.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 487,820 shares of company stock valued at $39,938,849. Corporate insiders own 6.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on SCHW shares. JMP Securities reaffirmed a “market outperform” rating and set a $94.00 price target (up previously from $84.00) on shares of Charles Schwab in a research report on Monday, December 9th. JPMorgan Chase & Co. upped their price target on shares of Charles Schwab from $87.00 to $93.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. Piper Sandler upped their price target on shares of Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Citigroup upped their price objective on shares of Charles Schwab from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Finally, Truist Financial upped their price objective on shares of Charles Schwab from $90.00 to $91.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $86.33.

Charles Schwab Trading Down 1.8 %

SCHW opened at $78.08 on Tuesday. 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 firm has a market capitalization of $139.08 billion, a PE ratio of 26.11, a P/E/G ratio of 0.99 and a beta of 0.99. The company’s 50-day moving average is $78.44 and its 200 day moving average is $73.76.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The company had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the prior year, the business posted $0.68 EPS. The firm’s revenue was up 19.5% compared to the same quarter last year. As a group, research analysts predict that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.38%. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 14th. Charles Schwab’s dividend payout ratio is presently 36.12%.

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.