New Mexico Educational Retirement Board Raises Holdings in The Charles Schwab Corporation (NYSE:SCHW)

New Mexico Educational Retirement Board lifted its holdings in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 11.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,687 shares of the financial services provider's stock after purchasing an additional 8,500 shares during the quarter. New Mexico Educational Retirement Board's holdings in Charles Schwab were worth $6,238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of SCHW. Atwood & Palmer Inc. purchased a new stake in shares of Charles Schwab in the 1st quarter worth $25,000. Westside Investment Management Inc. increased its holdings in Charles Schwab by 75.0% in the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock valued at $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 in the first quarter worth about $33,000. Cornerstone Planning Group LLC raised its holdings in shares of Charles Schwab by 90.5% during the 1st 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 position in Charles Schwab during the fourth quarter valued at $38,000. 84.38% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Jonathan M. Craig sold 47,500 shares of the business's stock in a transaction that occurred 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paula A. Sneed sold 8,647 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $88.06, for a total transaction of $761,454.82. Following the completion of the transaction, the director directly owned 105,654 shares in the company, valued at approximately $9,303,891.24. This represents a 7.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 119,905 shares of company stock worth $10,530,833. Insiders own 6.30% of the company's stock.

Analysts Set New Price Targets

SCHW has been the subject of several recent analyst reports. Wells Fargo & Company lifted 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. Raymond James Financial increased their price objective on Charles Schwab from $91.00 to $99.00 and gave the stock an "outperform" rating in a research note on Wednesday. Barclays lifted their target price on Charles Schwab from $89.00 to $106.00 and gave the company an "overweight" rating in a research report on Thursday. JMP Securities reissued a "market outperform" rating and set a $94.00 price target on shares of Charles Schwab in a research report on Monday, April 21st. Finally, Cowen restated a "buy" rating on shares of Charles Schwab in a research note on Tuesday, May 20th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Charles Schwab has a consensus rating of "Moderate Buy" and an average price target of $92.70.

Charles Schwab Stock Performance

NYSE SCHW traded down $1.08 on Friday, reaching $91.96. 6,814,781 shares of the company's stock traded hands, compared to its average volume of 9,572,487. The stock has a 50 day moving average price of $88.35 and a 200-day moving average price of $81.29. The firm has a market cap of $167.09 billion, a price-to-earnings ratio of 27.87, a P/E/G ratio of 0.97 and a beta of 0.93. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.53 and a current ratio of 0.53. The Charles Schwab Corporation has a fifty-two week low of $61.01 and a fifty-two week high of $93.35.

Charles Schwab (NYSE:SCHW - Get Free Report) last released 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 company had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.46 billion. During the same quarter last year, the business earned $0.74 earnings per share. Equities research analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend was Friday, May 9th. Charles Schwab's payout ratio is 32.73%.

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.