Teachers Retirement System of The State of Kentucky Sells 131,902 Shares of The Charles Schwab Co. (NYSE:SCHW)

Teachers Retirement System of The State of Kentucky trimmed its holdings in The Charles Schwab Co. (NYSE:SCHW) by 54.1% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 111,984 shares of the financial services provider’s stock after selling 131,902 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Charles Schwab were worth $7,257,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in shares of Charles Schwab in the third quarter worth approximately $25,000. Washington Trust Advisors Inc. grew its position in Charles Schwab by 62.6% in the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 149 shares during the period. American Capital Advisory LLC bought a new position in shares of Charles Schwab during the 2nd quarter valued at $27,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Charles Schwab in the 2nd quarter worth $29,000. Finally, Prospera Private Wealth LLC bought a new stake in shares of Charles Schwab in the third quarter worth $31,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on SCHW shares. Jefferies Financial Group increased their target price on Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a report on Monday. JMP Securities reiterated a “market outperform” rating and issued a $94.00 price objective (up previously from $84.00) on shares of Charles Schwab in a research note on Monday. Keefe, Bruyette & Woods boosted their target price on shares of Charles Schwab from $76.00 to $81.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Citigroup decreased their price target on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a research report on Friday, September 27th. Finally, Morgan Stanley boosted their price objective on shares of Charles Schwab from $68.00 to $74.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $79.75.

Insider Activity

In related news, insider Jonathan S. Beatty sold 2,300 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $82.01, for a total value of $188,623.00. Following the completion of the transaction, the insider now owns 18,069 shares of the company’s stock, valued at approximately $1,481,838.69. This trade represents a 11.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nigel J. Murtagh sold 12,739 shares of Charles Schwab stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $81.17, for a total value of $1,034,024.63. Following the completion of the transaction, the insider now owns 59,092 shares of the company’s stock, valued at approximately $4,796,497.64. This represents a 17.73 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 127,968 shares of company stock worth $9,419,271. 6.60% of the stock is currently owned by insiders.

Charles Schwab Stock Performance

SCHW opened at $82.83 on Friday. 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 stock has a market capitalization of $147.41 billion, a price-to-earnings ratio of 32.36, a PEG ratio of 1.79 and a beta of 0.96. The company has a fifty day moving average of $75.16 and a 200 day moving average of $70.32. The Charles Schwab Co. has a fifty-two week low of $59.67 and a fifty-two week high of $83.35.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.78 billion. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.77 earnings per share. As a group, sell-side analysts forecast that The Charles Schwab Co. will post 3.12 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.21%. Charles Schwab’s dividend payout ratio (DPR) is 39.06%.

About Charles Schwab

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.