Maryland State Retirement & Pension System Acquires 5,473 Shares of The Charles Schwab Corporation $SCHW

Key Points

• The Maryland State Retirement & Pension System increased its stake in The Charles Schwab Corporation by 7.1%, acquiring an additional 5,473 shares, bringing its total holdings to 82,951 shares valued at approximately $7.57 million.
• Charles Schwab's stock is currently rated a consensus "Moderate Buy" with a price target averaging $100.57, though some analysts have issued ratings ranging from "Strong Buy" to "Sell".
• The firm recently declared a quarterly dividend of $0.27 per share with a yield of 1.2%, and has authorized a $20 billion stock buyback program to buy up to 11.6% of its shares.

Maryland State Retirement & Pension System increased its holdings in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 7.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,951 shares of the financial services provider's stock after purchasing an additional 5,473 shares during the period. Maryland State Retirement & Pension System's holdings in Charles Schwab were worth $7,568,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Dempze Nancy E bought a new stake in Charles Schwab in the second quarter worth $680,000. Clear Creek Financial Management LLC bought a new stake in Charles Schwab in the second quarter worth $228,000. Ignite Planners LLC bought a new stake in Charles Schwab in the second quarter worth $218,000. H&H Retirement Design & Management INC boosted its holdings in Charles Schwab by 2.7% in the second quarter. H&H Retirement Design & Management INC now owns 11,536 shares of the financial services provider's stock worth $1,110,000 after purchasing an additional 299 shares in the last quarter. Finally, Nelson Capital Management LLC boosted its holdings in Charles Schwab by 0.7% in the second quarter. Nelson Capital Management LLC now owns 38,632 shares of the financial services provider's stock worth $3,525,000 after purchasing an additional 260 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SCHW has been the topic of several research analyst reports. Barclays reaffirmed an "overweight" rating and issued a $114.00 price target on shares of Charles Schwab in a research report on Wednesday. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Charles Schwab in a research report on Wednesday. Truist Financial set a $112.00 price target on Charles Schwab in a research report on Thursday, October 2nd. Bank of America raised their price target on Charles Schwab from $84.00 to $86.00 and gave the company an "underperform" rating in a research report on Thursday, October 2nd. Finally, Zacks Research downgraded Charles Schwab from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 17th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Charles Schwab has a consensus rating of "Moderate Buy" and a consensus price target of $100.57.

Charles Schwab Stock Down 0.2%

SCHW stock opened at $93.82 on Thursday. The Charles Schwab Corporation has a twelve month low of $64.97 and a twelve month high of $99.59. The company has a market cap of $170.30 billion, a PE ratio of 25.22, a price-to-earnings-growth ratio of 0.91 and a beta of 0.97. The business's 50-day simple moving average is $95.11 and its 200 day simple moving average is $88.89. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, topping analysts' consensus estimates of $1.10 by $0.04. The firm had revenue of $5.85 billion during the quarter, compared to analysts' expectations of $5.64 billion. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The company's revenue for the quarter was up 24.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.73 earnings per share. On average, research analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were paid a dividend of $0.27 per share. The ex-dividend date was Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. Charles Schwab's dividend payout ratio (DPR) is currently 29.03%.

Charles Schwab announced that its board has authorized a stock buyback program on Thursday, July 24th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 11.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its stock is undervalued.

Insider Activity

In other Charles Schwab news, insider Jonathan S. Beatty sold 6,144 shares of the firm's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $96.81, for a total transaction of $594,800.64. Following the completion of the transaction, the insider owned 11,923 shares in the company, valued at $1,154,265.63. This trade represents a 34.01% 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 link. Also, insider Paul V. Woolway sold 3,290 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $96.06, for a total transaction of $316,037.40. Following the sale, the insider directly owned 41,188 shares of the company's stock, valued at approximately $3,956,519.28. The trade was a 7.40% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 267,128 shares of company stock valued at $26,232,077. 6.30% of the stock is owned by company 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.

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