New York State Common Retirement Fund Boosts Stock Position in The Charles Schwab Corporation (NYSE:SCHW)

New York State Common Retirement Fund raised its position in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 19.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,505,407 shares of the financial services provider's stock after buying an additional 400,810 shares during the quarter. New York State Common Retirement Fund owned about 0.14% of Charles Schwab worth $196,123,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Mutual of America Capital Management LLC raised its stake in shares of Charles Schwab by 10.7% during the 1st quarter. Mutual of America Capital Management LLC now owns 198,181 shares of the financial services provider's stock valued at $15,514,000 after purchasing an additional 19,089 shares during the period. Arizona State Retirement System grew its position in Charles Schwab by 15.4% during the first quarter. Arizona State Retirement System now owns 534,488 shares of the financial services provider's stock worth $41,840,000 after buying an additional 71,513 shares in the last quarter. Diversify Wealth Management LLC purchased a new position in Charles Schwab during the first quarter worth about $383,000. Xponance Inc. grew its position in Charles Schwab by 17.5% during the first quarter. Xponance Inc. now owns 305,641 shares of the financial services provider's stock worth $23,926,000 after buying an additional 45,446 shares in the last quarter. Finally, Sage Rhino Capital LLC grew its position in Charles Schwab by 2.6% during the first quarter. Sage Rhino Capital LLC now owns 14,250 shares of the financial services provider's stock worth $1,115,000 after buying an additional 366 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

Charles Schwab Trading Down 1.2%

SCHW traded down $1.08 during midday trading on Friday, reaching $91.96. 6,814,781 shares of the company's stock traded hands, compared to its average volume of 9,599,814. The firm has a fifty day moving average of $88.53 and a two-hundred day moving average of $81.45. The stock has a market capitalization 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 current ratio of 0.53 and a quick ratio of 0.53. The Charles Schwab Corporation has a 52 week low of $61.01 and a 52 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 analysts' consensus estimates of $1.01 by $0.03. The business had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.46 billion. Charles Schwab had a return on equity of 18.31% and a net margin of 31.71%. During the same quarter in the prior year, the company posted $0.74 EPS. On average, equities analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently declared 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 1.17%. The ex-dividend date of this dividend was Friday, May 9th. Charles Schwab's payout ratio is 32.73%.

Analyst Upgrades and Downgrades

SCHW has been the subject of several recent analyst reports. Morgan Stanley boosted their target price on Charles Schwab from $76.00 to $83.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 13th. Truist Financial upped their price objective on Charles Schwab from $97.00 to $100.00 and gave the stock a "buy" rating in a report on Monday, June 16th. TD Securities upped their price objective on Charles Schwab from $95.00 to $113.00 and gave the stock a "buy" rating in a report on Tuesday, May 20th. JMP Securities reiterated a "market outperform" rating and issued a $94.00 price objective on shares of Charles Schwab in a report on Monday, April 21st. Finally, Wells Fargo & Company upped their price objective on Charles Schwab from $87.00 to $102.00 and gave the stock an "overweight" rating in a report on Friday. Two investment 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.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $92.70.

Insider Buying and Selling at Charles Schwab

In other news, insider Paul V. Woolway sold 10,129 shares of the stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $90.01, for a total value of $911,711.29. Following the completion of the transaction, the insider owned 39,154 shares of the company's stock, valued at approximately $3,524,251.54. This represents a 20.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Peter J. Morgan III sold 10,176 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $87.39, for a total value of $889,280.64. The disclosure for this sale can be found here. Insiders have sold a total of 119,905 shares of company stock worth $10,530,833 over the last three months. 6.30% of the stock is owned by corporate insiders.

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.