Arizona State Retirement System Has $41.84 Million Stock Position in The Charles Schwab Corporation (NYSE:SCHW)

Arizona State Retirement System increased its stake in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 15.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 534,488 shares of the financial services provider's stock after purchasing an additional 71,513 shares during the quarter. Arizona State Retirement System's holdings in Charles Schwab were worth $41,840,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in SCHW. Atwood & Palmer Inc. purchased a new stake in shares of Charles Schwab during the first quarter valued at $25,000. Westside Investment Management Inc. increased its stake in shares of Charles Schwab by 75.0% in the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock worth $27,000 after acquiring an additional 150 shares during the last quarter. WFA Asset Management Corp purchased a new stake in shares of Charles Schwab during the 1st quarter worth about $33,000. Cornerstone Planning Group LLC grew its position in Charles Schwab by 90.5% in the first quarter. Cornerstone Planning Group LLC now owns 463 shares of the financial services provider's stock worth $36,000 after acquiring an additional 220 shares in the last quarter. Finally, Murphy & Mullick Capital Management Corp bought a new stake in Charles Schwab in the fourth quarter worth $38,000. Institutional investors and hedge funds own 84.38% of the company's stock.

Insider Activity at Charles Schwab

In other news, Director Paula A. Sneed sold 8,647 shares of Charles Schwab stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $88.06, for a total value of $761,454.82. Following the transaction, the director owned 105,654 shares in the company, valued at approximately $9,303,891.24. This trade represents a 7.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul V. Woolway sold 3,290 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $90.95, for a total transaction of $299,225.50. Following the completion of the transaction, the insider directly owned 35,864 shares of the company's stock, valued at approximately $3,261,830.80. The trade was a 8.40% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 119,905 shares of company stock valued at $10,530,833. Insiders own 6.30% of the company's stock.

Charles Schwab Trading Down 1.2%

Shares of NYSE SCHW traded down $1.08 during midday trading on Friday, reaching $91.96. 6,814,781 shares of the stock were exchanged, compared to its average volume of 9,587,589. The Charles Schwab Corporation has a 12 month low of $61.01 and a 12 month high of $93.35. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.53 and a quick ratio of 0.53. The company has a market capitalization of $167.09 billion, a price-to-earnings ratio of 27.87, a P/E/G ratio of 0.98 and a beta of 0.93. The business has a 50-day simple moving average of $88.53 and a two-hundred day simple moving average of $81.40.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.03. Charles Schwab had a net margin of 31.71% and a return on equity of 18.31%. The company had revenue of $5.60 billion during the quarter, compared to analysts' expectations of $5.46 billion. During the same period last year, the business earned $0.74 EPS. As a group, equities research analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend was Friday, May 9th. Charles Schwab's dividend payout ratio is presently 32.73%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SCHW. Wells Fargo & Company boosted their price objective on shares of Charles Schwab from $87.00 to $102.00 and gave the stock an "overweight" rating in a research note on Friday. Citigroup lifted their price target on shares of Charles Schwab from $102.00 to $105.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. JMP Securities restated a "market outperform" rating and set a $94.00 target price on shares of Charles Schwab in a research report on Monday, April 21st. Raymond James Financial lifted their price target on shares of Charles Schwab from $91.00 to $99.00 and gave the company an "outperform" rating in a report on Wednesday. Finally, Morgan Stanley raised their target price on Charles Schwab from $76.00 to $83.00 and gave the company an "overweight" rating in a research note on Tuesday, May 13th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Charles Schwab has an average rating of "Moderate Buy" and an average price target of $92.70.

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.