New York State Teachers Retirement System Reduces Holdings in The Charles Schwab Corporation (NYSE:SCHW)

New York State Teachers Retirement System lowered its position in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 0.9% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,251,076 shares of the financial services provider's stock after selling 11,308 shares during the quarter. New York State Teachers Retirement System owned about 0.07% of Charles Schwab worth $97,934,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Atwood & Palmer Inc. bought a new position in Charles Schwab during the 1st quarter worth $25,000. WFA Asset Management Corp bought a new position in shares of Charles Schwab in the first quarter worth $33,000. Murphy & Mullick Capital Management Corp acquired a new position in Charles Schwab in the fourth quarter valued at about $38,000. Beacon Capital Management LLC raised its stake in Charles Schwab by 53.1% in the first quarter. Beacon Capital Management LLC now owns 487 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 169 shares in the last quarter. Finally, Atala Financial Inc bought a new stake in Charles Schwab during the fourth quarter worth about $41,000. Institutional investors own 84.38% of the company's stock.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,850 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $87.57, for a total transaction of $249,574.50. Following the completion of the transaction, the insider owned 15,219 shares in the company, valued at $1,332,727.83. This trade represents a 15.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Nigel J. Murtagh sold 20,872 shares of the company's 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 $1,878,688.72. Following the sale, the insider directly owned 58,999 shares in the company, valued at $5,310,499.99. This trade represents a 26.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 119,995 shares of company stock valued at $10,493,320. 6.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Wells Fargo & Company lowered their price target on Charles Schwab from $93.00 to $87.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Citigroup upgraded shares of Charles Schwab from a "neutral" rating to a "buy" rating and raised their price target for the company from $85.00 to $102.00 in a research note on Wednesday, April 2nd. Piper Sandler increased their price objective on shares of Charles Schwab from $74.00 to $80.00 in a research note on Thursday, April 17th. Barclays lowered their price target on shares of Charles Schwab from $96.00 to $84.00 and set an "overweight" rating for the company in a report on Monday, April 7th. Finally, TD Securities raised their price objective on Charles Schwab from $95.00 to $113.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $89.40.

Charles Schwab Stock Performance

Shares of NYSE:SCHW traded up $1.28 during trading on Monday, hitting $91.26. The company's stock had a trading volume of 9,523,621 shares, compared to its average volume of 9,511,687. The company has a 50-day moving average of $86.10 and a 200-day moving average of $80.36. The Charles Schwab Corporation has a 12 month low of $61.01 and a 12 month high of $91.41. 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 firm has a market cap of $165.82 billion, a price-to-earnings ratio of 27.65, a P/E/G ratio of 0.96 and a beta of 0.94.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its 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 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 company earned $0.74 earnings per share. On average, sell-side analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.08 dividend on an annualized basis and a yield of 1.18%. Charles Schwab's payout ratio is presently 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.