Teacher Retirement System of Texas Increases Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Teacher Retirement System of Texas grew its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 833.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 94,412 shares of the financial services provider’s stock after purchasing an additional 84,297 shares during the quarter. Teacher Retirement System of Texas’ holdings in Charles Schwab were worth $6,987,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Atala Financial Inc purchased a new stake in Charles Schwab during the fourth quarter valued at approximately $41,000. Knuff & Co LLC grew its position in shares of Charles Schwab by 1,309.3% during the 4th quarter. Knuff & Co LLC now owns 606 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 563 shares during the period. Financial Life Planners purchased a new stake in shares of Charles Schwab in the 4th quarter worth $46,000. Whipplewood Advisors LLC bought a new position in Charles Schwab in the 4th quarter worth $46,000. Finally, Heck Capital Advisors LLC purchased a new position in Charles Schwab during the fourth quarter valued at $50,000. Institutional investors own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

SCHW has been the subject of a number of analyst reports. TD Cowen upgraded Charles Schwab from a “hold” rating to a “buy” rating and upped their price target for the stock from $88.00 to $103.00 in a research report on Tuesday, February 18th. Keefe, Bruyette & Woods raised their target price on shares of Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a research note on Friday, December 20th. Barclays upped their price target on shares of Charles Schwab from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Truist Financial raised their price objective 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. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $94.00 target price (up previously from $84.00) on shares of Charles Schwab in a report on Monday, December 9th. Two analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $86.33.

Insider Buying and Selling

In other Charles Schwab news, Director Arun Sarin sold 8,548 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total value of $699,397.36. Following the completion of the sale, the director now owns 18,617 shares of the company’s stock, valued at $1,523,242.94. This trade represents a 31.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul V. Woolway sold 9,887 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $75.38, for a total value of $745,282.06. Following the completion of the sale, the insider now owns 47,931 shares in the company, valued at approximately $3,613,038.78. The trade was a 17.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 501,087 shares of company stock worth $40,952,233 over the last three months. 6.60% of the stock is owned by insiders.

Charles Schwab Price Performance

SCHW stock opened at $78.47 on Monday. The Charles Schwab Co. has a 52 week low of $61.01 and a 52 week high of $84.50. The firm has a market capitalization of $142.30 billion, a P/E ratio of 26.24, a price-to-earnings-growth ratio of 0.99 and a beta of 0.98. The company has a fifty day simple moving average of $78.99 and a two-hundred day simple moving average of $74.87. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW) last announced 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. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The firm had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter last year, the firm earned $0.68 EPS. The firm’s revenue for the quarter was up 19.5% compared to the same quarter last year. Analysts anticipate that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

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

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.