Retirement Systems of Alabama Purchases 61,353 Shares of The Charles Schwab Co. (NYSE:SCHW)

Retirement Systems of Alabama lifted its position in The Charles Schwab Co. (NYSE:SCHW) by 5.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,173,108 shares of the financial services provider’s stock after buying an additional 61,353 shares during the period. Retirement Systems of Alabama owned about 0.07% of Charles Schwab worth $86,822,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. State Street Corp increased its holdings in Charles Schwab by 0.7% during the 3rd 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 in the last quarter. Geode Capital Management LLC increased its holdings in Charles Schwab by 1.5% during the 3rd 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 in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Charles Schwab by 6.3% in the 3rd 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 in the last quarter. Franklin Resources Inc. grew its holdings in shares of Charles Schwab by 15.0% in the 3rd 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 in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of Charles Schwab by 2.5% in the 3rd quarter. Fisher Asset Management LLC now owns 20,189,558 shares of the financial services provider’s stock valued at $1,308,485,000 after acquiring an additional 493,264 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Price Performance

Shares of NYSE:SCHW opened at $81.90 on Wednesday. The firm has a market cap of $145.75 billion, a PE ratio of 27.39, a price-to-earnings-growth ratio of 1.01 and a beta of 0.99. The firm’s fifty day moving average is $77.99 and its 200-day moving average is $71.36. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The Charles Schwab Co. has a 52 week low of $61.01 and a 52 week high of $83.84.

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

Charles Schwab Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a $0.27 dividend. 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 annualized dividend and a yield of 1.32%. Charles Schwab’s payout ratio is presently 33.44%.

Analyst Ratings Changes

SCHW has been the subject of several recent analyst reports. Citigroup raised their target price on shares of Charles Schwab from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Keefe, Bruyette & Woods raised their target price on shares of Charles Schwab from $81.00 to $93.00 and gave the company an “outperform” rating in a research note on Friday, December 20th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Charles Schwab from $98.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. UBS Group raised their target price on shares of Charles Schwab from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, Truist Financial reiterated a “buy” rating and issued a $90.00 target price (up from $86.00) on shares of Charles Schwab in a research note on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Charles Schwab has an average rating of “Hold” and an average price target of $84.11.

Insider Activity at Charles Schwab

In other news, insider Jonathan S. Beatty sold 2,300 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christopher V. Dodds sold 9,284 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $81.43, for a total transaction of $755,996.12. Following the transaction, the director now owns 442,807 shares in the company, valued at $36,057,774.01. This represents a 2.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,014 shares of company stock worth $4,052,281 over the last quarter. Company 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.