The Charles Schwab Corporation (NYSE:SCHW) Shares Acquired by State of Alaska Department of Revenue

State of Alaska Department of Revenue grew its position in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 17.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 199,687 shares of the financial services provider's stock after buying an additional 29,255 shares during the period. State of Alaska Department of Revenue's holdings in Charles Schwab were worth $15,631,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Charles Schwab by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 128,578,230 shares of the financial services provider's stock valued at $9,516,075,000 after acquiring an additional 1,187,384 shares during the period. Geode Capital Management LLC boosted its position in shares of Charles Schwab by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 30,901,484 shares of the financial services provider's stock worth $2,279,742,000 after buying an additional 760,043 shares during the period. Fisher Asset Management LLC boosted its position in shares of Charles Schwab by 1.3% during the fourth quarter. Fisher Asset Management LLC now owns 20,455,266 shares of the financial services provider's stock worth $1,513,894,000 after buying an additional 265,708 shares during the period. Norges Bank acquired a new stake in shares of Charles Schwab in the fourth quarter valued at $1,289,544,000. Finally, Northern Trust Corp raised its holdings in shares of Charles Schwab by 13.4% in the 4th quarter. Northern Trust Corp now owns 15,739,917 shares of the financial services provider's stock valued at $1,164,911,000 after buying an additional 1,864,286 shares during the period. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Charles Schwab

In related news, Director Frank C. Herringer sold 3,592 shares of the company's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $74.26, for a total value of $266,741.92. Following the sale, the director now owns 172,162 shares of the company's stock, valued at approximately $12,784,750.12. This represents a 2.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul V. Woolway sold 8,614 shares of the company'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 sale, the insider now owns 49,204 shares in the company, valued at $3,936,320. This represents a 14.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 97,608 shares of company stock valued at $8,392,040 in the last quarter. 6.30% of the stock is currently owned by corporate insiders.

Charles Schwab Stock Performance

NYSE SCHW traded up $0.94 during trading hours on Thursday, hitting $89.90. 8,081,605 shares of the stock were exchanged, compared to its average volume of 9,437,175. 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 company has a market cap of $163.35 billion, a price-to-earnings ratio of 27.24, a price-to-earnings-growth ratio of 0.95 and a beta of 0.94. The Charles Schwab Corporation has a 12-month low of $61.01 and a 12-month high of $90.19. The stock has a 50-day moving average of $84.24 and a 200 day moving average of $80.01.

Charles Schwab (NYSE:SCHW - Get Free Report) last released 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 company had revenue of $5.60 billion during the quarter, compared to the consensus estimate 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 last year, the company earned $0.74 earnings per share. As a group, equities research analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend was Friday, May 9th. Charles Schwab's dividend payout ratio is currently 32.73%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SCHW shares. TD Securities raised their target price on Charles Schwab from $95.00 to $113.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. Cowen reissued a "buy" rating on shares of Charles Schwab in a research report on Tuesday, May 20th. JPMorgan Chase & Co. lifted their price objective on shares of Charles Schwab from $92.00 to $95.00 and gave the company an "overweight" rating in a report on Monday, April 21st. Wells Fargo & Company decreased their price target on shares of Charles Schwab from $93.00 to $87.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, Morgan Stanley upped their price objective on Charles Schwab from $76.00 to $83.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 13th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $89.40.

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.