Great Lakes Retirement Inc. Increases Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Great Lakes Retirement Inc. raised its position in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 2.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 145,184 shares of the financial services provider's stock after buying an additional 3,139 shares during the quarter. Charles Schwab comprises about 1.5% of Great Lakes Retirement Inc.'s investment portfolio, making the stock its 18th largest holding. Great Lakes Retirement Inc.'s holdings in Charles Schwab were worth $11,365,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in Charles Schwab during the 4th quarter worth approximately $1,289,544,000. Kovitz Investment Group Partners LLC lifted its stake in shares of Charles Schwab by 354.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 11,005,881 shares of the financial services provider's stock worth $814,545,000 after buying an additional 8,584,173 shares during the period. FMR LLC grew its holdings in shares of Charles Schwab by 69.4% during the fourth quarter. FMR LLC now owns 9,700,013 shares of the financial services provider's stock valued at $717,898,000 after buying an additional 3,974,940 shares during the last quarter. Marshall Wace LLP lifted its position in Charles Schwab by 742.0% during the fourth quarter. Marshall Wace LLP now owns 4,181,202 shares of the financial services provider's stock valued at $309,451,000 after purchasing an additional 3,684,640 shares during the period. Finally, Primecap Management Co. CA grew its position in Charles Schwab by 310.3% during the 4th quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider's stock worth $314,716,000 after purchasing an additional 3,216,000 shares during the period. 84.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on SCHW shares. Keefe, Bruyette & Woods boosted their price objective on Charles Schwab from $90.00 to $93.00 and gave the company an "outperform" rating in a report on Tuesday, April 22nd. Redburn Atlantic upgraded Charles Schwab from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $65.00 to $82.00 in a research report on Monday, June 9th. TD Securities raised their price objective on shares of Charles Schwab from $95.00 to $113.00 and gave the stock a "buy" rating in a research note on Tuesday, May 20th. The Goldman Sachs Group upgraded shares of Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 target price for the company in a research note on Friday, April 25th. Finally, TD Cowen upgraded shares of Charles Schwab from a "hold" rating to a "buy" rating and raised their price target for the company from $88.00 to $103.00 in a research report on Tuesday, February 18th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Charles Schwab presently has an average rating of "Moderate Buy" and an average price target of $89.40.

Charles Schwab Trading Up 1.8%

Shares of SCHW traded up $1.59 during trading on Monday, reaching $88.95. 7,395,115 shares of the company traded hands, compared to its average volume of 9,422,752. The stock has a 50-day simple moving average of $83.30 and a 200-day simple moving average of $79.84. The stock has a market cap of $161.61 billion, a PE ratio of 29.75, a price-to-earnings-growth ratio of 0.99 and a beta of 0.94. The Charles Schwab Co. has a twelve month low of $61.01 and a twelve month high of $89.85. 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 - Get Free Report) last posted its earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.03. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The firm had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.46 billion. During the same quarter last year, the firm earned $0.74 EPS. On average, analysts anticipate that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend was Friday, May 9th. Charles Schwab's dividend payout ratio is currently 32.73%.

Insider Buying and Selling at Charles Schwab

In related news, insider Jonathan M. Craig sold 47,500 shares of the business's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $88.46, for a total transaction of $4,201,850.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frank C. Herringer sold 3,592 shares of the company's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $74.26, for a total transaction of $266,741.92. Following the sale, the director now owns 172,162 shares in the company, valued at $12,784,750.12. The trade was a 2.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 97,608 shares of company stock valued at $8,392,040 in the last three months. 6.30% of the stock is owned by corporate insiders.

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.