Retirement Systems of Alabama Acquires 152,967 Shares of The Charles Schwab Co. (NYSE:SCHW)

Retirement Systems of Alabama increased its stake in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 13.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,329,388 shares of the financial services provider's stock after purchasing an additional 152,967 shares during the period. Retirement Systems of Alabama owned 0.08% of Charles Schwab worth $91,462,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in SCHW. Providence Capital Advisors LLC acquired a new position in Charles Schwab during the 3rd quarter worth $28,000. Sugarloaf Wealth Management LLC boosted its position in Charles Schwab by 60.0% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider's stock worth $30,000 after acquiring an additional 165 shares during the period. Wetzel Investment Advisors Inc. acquired a new position in Charles Schwab during the 4th quarter worth $31,000. BluePath Capital Management LLC acquired a new position in Charles Schwab during the 3rd quarter worth $34,000. Finally, Hall Laurie J Trustee acquired a new position in Charles Schwab during the 4th quarter worth $34,000. Institutional investors own 84.38% of the company's stock.

Charles Schwab Stock Up 0.1 %

Shares of SCHW stock traded up $0.10 on Friday, reaching $74.99. 5,560,677 shares of the company's stock traded hands, compared to its average volume of 7,173,721. The Charles Schwab Co. has a 12-month low of $45.65 and a 12-month high of $75.55. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market capitalization of $133.19 billion, a P/E ratio of 31.38, a price-to-earnings-growth ratio of 1.10 and a beta of 1.01. The business's 50 day moving average price is $69.68 and its two-hundred day moving average price is $64.01.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.33%. Charles Schwab's dividend payout ratio is 41.84%.

Insider Activity

In other news, CFO Peter B. Crawford sold 8,000 shares of Charles Schwab stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $64.76, for a total transaction of $518,080.00. Following the transaction, the chief financial officer now owns 29,611 shares in the company, valued at $1,917,608.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Charles Schwab news, Chairman Charles R. Schwab sold 89,275 shares of the business's stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $74.62, for a total value of $6,661,700.50. Following the transaction, the chairman now owns 30,641,981 shares in the company, valued at $2,286,504,622.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Peter B. Crawford sold 8,000 shares of the business's stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $64.76, for a total value of $518,080.00. Following the completion of the transaction, the chief financial officer now owns 29,611 shares in the company, valued at approximately $1,917,608.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 394,648 shares of company stock worth $27,400,905. 6.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

SCHW has been the topic of a number of research reports. Morgan Stanley boosted their price objective on Charles Schwab from $65.00 to $71.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 9th. Bank of America boosted their price objective on Charles Schwab from $68.00 to $70.00 and gave the stock an "underperform" rating in a research note on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft boosted their price objective on Charles Schwab from $75.00 to $77.00 and gave the stock a "buy" rating in a research note on Tuesday, March 19th. The Goldman Sachs Group reissued a "neutral" rating and issued a $71.00 price objective (up previously from $70.00) on shares of Charles Schwab in a research note on Wednesday, January 3rd. Finally, Keefe, Bruyette & Woods boosted their price objective on Charles Schwab from $75.00 to $76.00 and gave the stock a "market perform" rating in a research note on Tuesday, April 16th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $74.47.

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.