Public Employees Retirement System of Ohio Has $62.73 Million Stake in The Charles Schwab Corporation $SCHW

Key Points

• Public Employees Retirement System of Ohio trimmed its Charles Schwab stake by 2.0% in the first quarter, but still held 667,534 shares worth about $62.7 million.
• Charles Schwab reported better-than-expected Q2 results, with EPS of $1.62 versus $1.56 expected and revenue of $7.07 billion versus $6.90 billion projected. Revenue rose 20.9% year over year, and the company posted strong profitability metrics.
• The company also declared a quarterly dividend of $0.32 per share and continues to receive generally positive analyst sentiment, with a consensus rating of Moderate Buy and an average price target of $119.76.

Public Employees Retirement System of Ohio lowered its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 2.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 667,534 shares of the financial services provider's stock after selling 13,753 shares during the period. Public Employees Retirement System of Ohio's holdings in Charles Schwab were worth $62,735,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of SCHW. State Street Corp boosted its position in shares of Charles Schwab by 1.0% during the 3rd quarter. State Street Corp now owns 73,156,290 shares of the financial services provider's stock valued at $6,984,231,000 after acquiring an additional 691,671 shares in the last quarter. Geode Capital Management LLC raised its position in Charles Schwab by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 37,667,640 shares of the financial services provider's stock worth $3,747,646,000 after purchasing an additional 98,242 shares in the last quarter. Franklin Resources Inc. raised its position in Charles Schwab by 0.3% in the fourth quarter. Franklin Resources Inc. now owns 30,184,369 shares of the financial services provider's stock worth $3,015,720,000 after purchasing an additional 78,020 shares in the last quarter. Primecap Management Co. CA lifted its stake in Charles Schwab by 9.7% during the fourth quarter. Primecap Management Co. CA now owns 23,276,071 shares of the financial services provider's stock worth $2,325,512,000 after purchasing an additional 2,066,884 shares during the period. Finally, Fisher Asset Management LLC lifted its stake in Charles Schwab by 0.8% during the fourth quarter. Fisher Asset Management LLC now owns 21,818,514 shares of the financial services provider's stock worth $2,179,888,000 after purchasing an additional 171,926 shares during the period. Institutional investors own 84.38% of the company's stock.

Charles Schwab Price Performance

Shares of Charles Schwab stock opened at $101.62 on Friday. The stock has a market capitalization of $176.73 billion, a price-to-earnings ratio of 18.48, a P/E/G ratio of 0.83 and a beta of 0.77. The firm's 50-day moving average price is $93.71 and its two-hundred day moving average price is $95.35. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.48. The Charles Schwab Corporation has a 1-year low of $83.96 and a 1-year high of $107.50.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.56 by $0.06. The company had revenue of $7.07 billion during the quarter, compared to analysts' expectations of $6.90 billion. Charles Schwab had a net margin of 38.79% and a return on equity of 24.73%. Charles Schwab's quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.14 earnings per share. On average, equities analysts predict that The Charles Schwab Corporation will post 6.34 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, August 14th. Charles Schwab's dividend payout ratio (DPR) is currently 25.40%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Argus upped their price objective on Charles Schwab from $108.00 to $114.00 and gave the company a "buy" rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Charles Schwab in a research report on Wednesday. Zacks Research raised Charles Schwab from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 9th. BMO Capital Markets cut Charles Schwab from an "outperform" rating to a "market perform" rating and set a $105.00 price target on the stock. in a research report on Monday. Finally, TD Cowen increased their price objective on Charles Schwab from $108.00 to $109.00 and gave the stock a "buy" rating in a research note on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $119.76.

Insider Buying and Selling at Charles Schwab

In other news, Director Frank C. Herringer sold 2,520 shares of the stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $90.60, for a total transaction of $228,312.00. Following the sale, the director owned 177,508 shares in the company, valued at approximately $16,082,224.80. This represents a 1.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan S. Beatty sold 2,000 shares of the firm's stock in a transaction on Monday, July 6th. The shares were sold at an average price of $100.01, for a total value of $200,020.00. Following the completion of the sale, the insider owned 13,738 shares of the company's stock, valued at approximately $1,373,937.38. This trade represents a 12.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 6,520 shares of company stock valued at $622,392. Corporate insiders own 6.30% of the company's stock.

Trending Headlines about Charles Schwab

Here are the key news stories impacting Charles Schwab this week:

• Positive Sentiment: Schwab beat Q2 estimates, with record daily average revenue trades, a 20%+ revenue increase, and management raising full-year guidance, signaling strong operating momentum. Schwab Beats 2Q Estimates as Retail Traders Pile Into Market
• Positive Sentiment: Analysts turned more bullish, with Argus lifting its price target to $114 and Barclays raising its target to $125, both with positive ratings. Analyst price target increases
• Positive Sentiment: Schwab was added to Zacks’ Rank #1 “Strong Buy” income stocks list, which can support investor sentiment around the name. Best Income Stocks to Buy for July 23rd
• Neutral Sentiment: Schwab declared its regular quarterly common stock dividend and preferred dividends, reinforcing its shareholder-return profile but not changing the core growth story. Schwab Declares Quarterly Common Stock Dividend and Declares Preferred Stock Dividends
• Negative Sentiment: Some coverage noted that SCHW shares fell despite the earnings surge, suggesting traders may be taking profits after the run-up or focusing on valuation near recent highs. Interactive Brokers, Charles Schwab Slide Despite Earnings Surge

Charles Schwab Profile

Charles Schwab Corporation NYSE: SCHW is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.

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