Kentucky Retirement Systems Insurance Trust Fund Has $3.77 Million Holdings in The Charles Schwab Corporation (NYSE:SCHW)

Kentucky Retirement Systems Insurance Trust Fund increased its holdings in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 17.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,197 shares of the financial services provider's stock after acquiring an additional 7,108 shares during the period. Kentucky Retirement Systems Insurance Trust Fund's holdings in Charles Schwab were worth $3,773,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in SCHW. Atwood & Palmer Inc. purchased a new stake in Charles Schwab in the 1st quarter valued at about $25,000. WFA Asset Management Corp purchased a new stake in Charles Schwab in the 1st quarter valued at about $33,000. Beacon Capital Management LLC increased its stake in Charles Schwab by 53.1% in the 1st quarter. Beacon Capital Management LLC now owns 487 shares of the financial services provider's stock valued at $38,000 after buying an additional 169 shares during the last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in Charles Schwab in the 4th quarter valued at about $38,000. Finally, Atala Financial Inc purchased a new stake in Charles Schwab in the 4th quarter valued at about $41,000. Institutional investors and hedge funds own 84.38% of the company's stock.

Insider Buying and Selling at Charles Schwab

In other news, Director Frank C. Herringer sold 3,592 shares of Charles Schwab stock in a transaction on Monday, April 21st. The shares were sold at an average price of $74.26, for a total transaction of $266,741.92. Following the completion of the sale, the director now directly owns 172,162 shares of the company's stock, valued at approximately $12,784,750.12. The trade was a 2.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul V. Woolway sold 8,614 shares of Charles Schwab stock in a transaction on Monday, March 24th. The stock was sold at an average price of $80.00, for a total transaction of $689,120.00. Following the sale, the insider now directly owns 49,204 shares of the company's stock, valued at $3,936,320. This represents a 14.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 128,609 shares of company stock valued at $11,182,440 in the last three months. Company insiders own 6.30% of the company's stock.

Charles Schwab Stock Down 0.7%

SCHW opened at $89.25 on Friday. The company has a 50 day moving average of $84.81 and a 200 day moving average of $80.12. The company has a market cap of $162.16 billion, a PE ratio of 27.04, a price-to-earnings-growth ratio of 0.95 and a beta of 0.94. The Charles Schwab Corporation has a 12 month low of $61.01 and a 12 month high of $90.60. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.53.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, beating 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 firm had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.46 billion. During the same period last year, the firm earned $0.74 EPS. On average, sell-side analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were issued 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 payout ratio is 32.73%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of Charles Schwab from $92.00 to $95.00 and gave the company an "overweight" rating in a research report on Monday, April 21st. The Goldman Sachs Group raised 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 report on Friday, April 25th. Piper Sandler increased their target price on shares of Charles Schwab from $74.00 to $80.00 in a research report on Thursday, April 17th. Cowen reissued a "buy" rating on shares of Charles Schwab in a research report on Tuesday, May 20th. Finally, Truist Financial increased their target price on shares of Charles Schwab from $97.00 to $100.00 and gave the company a "buy" rating in a research report on Monday, June 16th. Two research 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 data from MarketBeat, Charles Schwab presently has an average rating of "Moderate Buy" and a consensus target price of $89.40.

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.

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