The Charles Schwab Corporation (NYSE:SCHW) Shares Bought by Retirement Systems of Alabama

Retirement Systems of Alabama grew its position in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 2.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,206,039 shares of the financial services provider's stock after acquiring an additional 32,931 shares during the quarter. Retirement Systems of Alabama owned approximately 0.07% of Charles Schwab worth $94,409,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in SCHW. Cary Street Partners Financial LLC acquired a new stake in Charles Schwab in the fourth quarter worth $1,455,000. Banco Santander S.A. increased its holdings in shares of Charles Schwab by 49.6% in the 4th quarter. Banco Santander S.A. now owns 16,316 shares of the financial services provider's stock worth $1,208,000 after acquiring an additional 5,413 shares during the period. Bank of New York Mellon Corp lifted its position in Charles Schwab by 0.6% in the 4th quarter. Bank of New York Mellon Corp now owns 10,438,852 shares of the financial services provider's stock valued at $772,579,000 after purchasing an additional 60,683 shares during the last quarter. Paradigm Asset Management Co. LLC boosted its stake in Charles Schwab by 217.0% during the 4th quarter. Paradigm Asset Management Co. LLC now owns 48,350 shares of the financial services provider's stock valued at $3,578,000 after purchasing an additional 33,100 shares during the period. Finally, Graham Capital Management L.P. boosted its stake in Charles Schwab by 248.3% during the 4th quarter. Graham Capital Management L.P. now owns 112,376 shares of the financial services provider's stock valued at $8,317,000 after purchasing an additional 80,112 shares during the period. 84.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SCHW. JPMorgan Chase & Co. raised their target price on Charles Schwab from $92.00 to $95.00 and gave the company an "overweight" rating in a research report on Monday, April 21st. The Goldman Sachs Group raised Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a report on Friday, April 25th. TD Securities upped their price objective on shares of Charles Schwab from $95.00 to $113.00 and gave the stock a "buy" rating in a report on Tuesday, May 20th. UBS Group increased their target price on shares of Charles Schwab from $95.00 to $96.00 and gave the company a "buy" rating in a research report on Tuesday, April 22nd. Finally, JMP Securities restated a "market outperform" rating and set a $94.00 price target on shares of Charles Schwab in a research report on Monday, April 21st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $89.40.

Insider Buying and Selling at Charles Schwab

In other news, insider Paul V. Woolway sold 8,614 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $80.00, for a total value of $689,120.00. Following the completion of the transaction, the insider now owns 49,204 shares of the company's stock, valued at $3,936,320. The trade was a 14.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frank C. Herringer sold 3,592 shares of the stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $74.26, for a total value of $266,741.92. Following the completion of the sale, the director now owns 172,162 shares of the company's stock, valued at $12,784,750.12. This trade represents a 2.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 97,608 shares of company stock worth $8,392,040. Insiders own 6.30% of the company's stock.

Charles Schwab Trading Up 1.1%

Shares of SCHW opened at $89.90 on Friday. 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 company has a market cap of $163.35 billion, a price-to-earnings ratio of 27.24, a PEG ratio of 0.96 and a beta of 0.94. The stock has a fifty day moving average price of $84.57 and a two-hundred day moving average price of $80.07. The Charles Schwab Corporation has a 52-week low of $61.01 and a 52-week high of $90.19.

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. The business had revenue of $5.60 billion for the quarter, compared to analysts' expectations of $5.46 billion. Charles Schwab had a net margin of 31.71% and a return on equity of 18.31%. During the same period in the prior year, the firm earned $0.74 earnings per share. 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. Shareholders of record on Friday, May 9th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.20%. The ex-dividend date was Friday, May 9th. Charles Schwab's 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.

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