New Mexico Educational Retirement Board Purchases 8,500 Shares of The Charles Schwab Corporation (NYSE:SCHW)

New Mexico Educational Retirement Board increased its position in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 11.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 79,687 shares of the financial services provider's stock after acquiring 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 SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Brighton Jones LLC increased its stake in Charles Schwab by 380.5% in the 4th quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider's stock worth $1,794,000 after purchasing an additional 19,195 shares during the period. Proficio Capital Partners LLC purchased a new position in Charles Schwab in the 4th quarter worth approximately $441,000. AlphaQuest LLC increased its stake in Charles Schwab by 81.0% in the 4th quarter. AlphaQuest LLC now owns 7,531 shares of the financial services provider's stock worth $557,000 after purchasing an additional 3,370 shares during the period. Simplicity Wealth LLC increased its stake in shares of Charles Schwab by 40.6% during the fourth quarter. Simplicity Wealth LLC now owns 5,072 shares of the financial services provider's stock valued at $375,000 after buying an additional 1,465 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Charles Schwab by 14.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 618,033 shares of the financial services provider's stock worth $45,741,000 after purchasing an additional 76,954 shares during the period. Institutional investors own 84.38% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Redburn Atlantic upgraded Charles Schwab from a "sell" rating to a "neutral" rating and upped their price target for the stock from $65.00 to $82.00 in a research report on Monday, June 9th. Barclays lowered their price objective on Charles Schwab from $96.00 to $84.00 and set an "overweight" rating for the company in a research note on Monday, April 7th. Cowen reiterated a "buy" rating on shares of Charles Schwab in a report on Tuesday, May 20th. TD Securities lifted their price target on Charles Schwab from $95.00 to $113.00 and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Finally, Morgan Stanley increased their target price on Charles Schwab from $76.00 to $83.00 and gave the company an "overweight" rating in a report on Tuesday, May 13th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $90.85.

Insider Activity

In other Charles Schwab news, Director Paula A. Sneed sold 8,647 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $88.06, for a total transaction of $761,454.82. Following the completion of the transaction, the director owned 105,654 shares of the company's stock, valued at $9,303,891.24. The trade was a 7.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nigel J. Murtagh sold 20,872 shares of the business's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $90.01, for a total transaction of $1,878,688.72. Following the transaction, the insider owned 58,999 shares in the company, valued at approximately $5,310,499.99. The trade was a 26.13% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 119,905 shares of company stock worth $10,530,833. Insiders own 6.30% of the company's stock.

Charles Schwab Stock Up 1.0%

Shares of Charles Schwab stock traded up $0.91 on Thursday, hitting $93.23. 3,110,766 shares of the company traded hands, compared to its average volume of 10,232,461. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.53. The Charles Schwab Corporation has a 12-month low of $61.01 and a 12-month high of $93.35. The company has a 50-day moving average price of $88.12 and a 200 day moving average price of $81.16. The company has a market cap of $169.39 billion, a PE ratio of 28.25, a PEG ratio of 0.98 and a beta of 0.93.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (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 business had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.46 billion. During the same quarter in the previous year, the business earned $0.74 EPS. Sell-side analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

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 dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date was Friday, May 9th. Charles Schwab's dividend payout ratio is 32.73%.

Charles Schwab 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.