Arizona State Retirement System Purchases 29,824 Shares of The Charles Schwab Co. (NYSE:SCHW)

Arizona State Retirement System lifted its stake in The Charles Schwab Co. (NYSE:SCHW) by 6.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 462,975 shares of the financial services provider’s stock after purchasing an additional 29,824 shares during the period. Arizona State Retirement System’s holdings in Charles Schwab were worth $34,265,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SCHW. Intact Investment Management Inc. increased its holdings in Charles Schwab by 10.3% in the 3rd quarter. Intact Investment Management Inc. now owns 11,740 shares of the financial services provider’s stock valued at $761,000 after buying an additional 1,100 shares during the period. National Pension Service grew its stake in shares of Charles Schwab by 15.6% in the third quarter. National Pension Service now owns 2,811,836 shares of the financial services provider’s stock worth $182,235,000 after purchasing an additional 379,212 shares during the last quarter. Asset Management One Co. Ltd. lifted its stake in shares of Charles Schwab by 2.0% in the third quarter. Asset Management One Co. Ltd. now owns 594,649 shares of the financial services provider’s stock worth $38,539,000 after acquiring an additional 11,637 shares during the period. Hazlett Burt & Watson Inc. acquired a new stake in shares of Charles Schwab during the third quarter worth $33,000. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of Charles Schwab in the 3rd quarter valued at about $188,000. 84.38% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Chairman Walter W. Bettinger sold 464,629 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the transaction, the chairman now directly owns 827,377 shares of the company’s stock, valued at $67,770,450.07. This represents a 35.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul V. Woolway sold 3,380 shares of Charles Schwab stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $79.32, for a total value of $268,101.60. Following the completion of the sale, the insider now directly owns 57,818 shares of the company’s stock, valued at $4,586,123.76. The trade was a 5.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 491,200 shares of company stock valued at $40,206,950. Corporate insiders own 6.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on SCHW shares. Truist Financial lifted their price target on shares of Charles Schwab from $90.00 to $91.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. JMP Securities reissued a “market outperform” rating and issued a $94.00 price target (up from $84.00) on shares of Charles Schwab in a report on Monday, December 9th. Citigroup boosted their target price on Charles Schwab from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Piper Sandler boosted their target price on shares of Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Charles Schwab from $98.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Charles Schwab currently has a consensus rating of “Hold” and an average target price of $86.33.

Charles Schwab Stock Down 3.8 %

Shares of NYSE:SCHW opened at $75.17 on Wednesday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The stock has a fifty day simple moving average of $78.45 and a two-hundred day simple moving average of $73.83. The Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $84.50. The stock has a market capitalization of $136.32 billion, a price-to-earnings ratio of 25.14, a PEG ratio of 0.99 and a beta of 0.98.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.90 by $0.11. The company had revenue of $5.33 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 19.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.68 EPS. On average, research analysts anticipate that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.44%. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 14th. Charles Schwab’s dividend payout ratio (DPR) is currently 36.12%.

Charles Schwab 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.