Teachers Retirement System of The State of Kentucky Trims Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Teachers Retirement System of The State of Kentucky lessened its holdings in The Charles Schwab Co. (NYSE:SCHW) by 54.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 111,984 shares of the financial services provider’s stock after selling 131,902 shares during the period. 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 quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of SCHW. 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 during the period. Geode Capital Management LLC grew its position in shares of 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 buying an additional 445,304 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of 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 buying an additional 1,711,312 shares during the period. Fisher Asset Management LLC raised its holdings in shares of Charles Schwab by 2.5% in the third 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. Finally, Legal & General Group Plc lifted its stake in Charles Schwab by 2.1% in the second quarter. Legal & General Group Plc now owns 10,886,058 shares of the financial services provider’s stock worth $802,193,000 after acquiring an additional 225,397 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Trading Up 0.5 %

NYSE SCHW opened at $82.83 on Friday. The stock has a market cap of $147.41 billion, a P/E ratio of 32.36, a P/E/G ratio of 1.79 and a beta of 0.96. 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 Charles Schwab Co. has a 12-month low of $59.67 and a 12-month high of $83.35. The company has a fifty day simple moving average of $75.16 and a two-hundred day simple moving average of $70.32.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. The company 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 firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the business posted $0.77 EPS. On average, analysts forecast that The Charles Schwab Co. will post 3.12 earnings per share for the current year.

Charles Schwab Announces Dividend

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

Insider Buying and Selling at Charles Schwab

In other news, insider Jonathan S. Beatty sold 2,500 shares of Charles Schwab stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $77.02, for a total transaction of $192,550.00. Following the completion of the transaction, the insider now directly owns 18,069 shares of the company’s stock, valued at $1,391,674.38. The trade was a 12.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Charles R. Schwab sold 62,345 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the sale, the chairman now directly owns 60,619,371 shares in the company, valued at $4,396,116,784.92. This trade represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 127,968 shares of company stock worth $9,419,271. Insiders own 6.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. StockNews.com upgraded shares of Charles Schwab from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. The Goldman Sachs Group boosted their price objective on shares of Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft increased their target price on Charles Schwab from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Citigroup reduced their price target on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a research report on Friday, September 27th. Finally, Bank of America dropped their price objective on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $79.75.

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.