New York State Teachers Retirement System Decreases Holdings in The Charles Schwab Co. (NYSE:SCHW)

New York State Teachers Retirement System trimmed its stake in The Charles Schwab Co. (NYSE:SCHW) by 4.7% during the third quarter, Holdings Channel reports. The fund owned 1,293,414 shares of the financial services provider’s stock after selling 63,081 shares during the period. New York State Teachers Retirement System’s holdings in Charles Schwab were worth $83,826,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of SCHW. M&G Plc bought a new position in Charles Schwab during the first quarter worth about $11,452,000. Teewinot Capital Advisers L.L.C. grew its stake in Charles Schwab by 9.0% during the second quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider’s stock valued at $57,122,000 after acquiring an additional 64,041 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in Charles Schwab by 10.4% in the 1st quarter. Daiwa Securities Group Inc. now owns 190,597 shares of the financial services provider’s stock worth $13,788,000 after purchasing an additional 17,925 shares in the last quarter. Iowa State Bank grew its position in shares of Charles Schwab by 37.9% during the 3rd quarter. Iowa State Bank now owns 28,476 shares of the financial services provider’s stock valued at $1,846,000 after purchasing an additional 7,829 shares in the last quarter. Finally, Orion Portfolio Solutions LLC lifted its stake in Charles Schwab by 8.3% during the first quarter. Orion Portfolio Solutions LLC now owns 134,897 shares of the financial services provider’s stock worth $9,758,000 after purchasing an additional 10,393 shares during the last quarter. 84.38% of the stock is owned by institutional investors.

Charles Schwab Trading Down 0.3 %

SCHW traded down $0.24 during trading on Wednesday, hitting $71.65. 608,801 shares of the stock were exchanged, compared to its average volume of 8,004,828. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42. The Charles Schwab Co. has a 1 year low of $50.30 and a 1 year high of $79.49. The firm has a 50 day simple moving average of $66.00 and a 200 day simple moving average of $69.51. The firm has a market cap of $127.34 billion, a price-to-earnings ratio of 30.10, a P/E/G ratio of 1.65 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 17.52%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.77 earnings per share. As a group, equities analysts expect that The Charles Schwab Co. will post 3.11 EPS for the current year.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 1.40%. Charles Schwab’s dividend payout ratio (DPR) is presently 41.84%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. UBS Group decreased their price target on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. The Goldman Sachs Group raised their price objective on Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Cowen lifted their price objective on Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. StockNews.com raised Charles Schwab from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Finally, Bank of America lowered their target price on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $73.94.

Insiders Place Their Bets

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the company’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $72.16, for a total value of $2,150,368.00. Following the sale, the director now directly owns 551,329 shares of the company’s stock, valued at approximately $39,783,900.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman Charles R. Schwab sold 62,345 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total value of $4,521,259.40. Following the transaction, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at approximately $4,396,116,784.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the business’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $72.16, for a total value of $2,150,368.00. Following the transaction, the director now owns 551,329 shares in the company, valued at approximately $39,783,900.64. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 114,615 shares of company stock valued at $8,125,089. 6.60% of the stock is owned by insiders.

Charles Schwab Company 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.