Retirement Systems of Alabama Sells 11,161 Shares of The Charles Schwab Co. (NYSE:SCHW)

Retirement Systems of Alabama reduced its position in The Charles Schwab Co. (NYSE:SCHW) by 1.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,111,755 shares of the financial services provider’s stock after selling 11,161 shares during the quarter. Retirement Systems of Alabama’s holdings in Charles Schwab were worth $72,053,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SCHW. Washington Trust Advisors Inc. boosted its stake in Charles Schwab by 62.6% in the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after buying an additional 149 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Charles Schwab in the 3rd quarter valued at approximately $25,000. American Capital Advisory LLC bought a new stake in shares of Charles Schwab during the 2nd quarter valued at approximately $27,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Charles Schwab during the second quarter worth $29,000. Finally, Prospera Private Wealth LLC acquired a new position in Charles Schwab in the 3rd quarter worth about $31,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Citigroup decreased their price target on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a research report on Friday, September 27th. Piper Sandler boosted their price objective on Charles Schwab from $64.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. JMP Securities reaffirmed a “market outperform” rating and set a $94.00 target price (up previously from $84.00) on shares of Charles Schwab in a research note on Monday. StockNews.com upgraded Charles Schwab from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Finally, Raymond James lowered their price objective on shares of Charles Schwab from $76.00 to $73.00 in a research note on Tuesday, October 15th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Charles Schwab has an average rating of “Hold” and a consensus price target of $79.75.

Insider Activity at Charles Schwab

In other news, insider Jonathan S. Beatty sold 2,300 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $82.01, for a total transaction of $188,623.00. Following the completion of the transaction, the insider now owns 18,069 shares in the company, valued at approximately $1,481,838.69. This represents a 11.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Charles R. Schwab sold 62,345 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the transaction, the chairman now owns 60,619,371 shares of the company’s stock, valued at $4,396,116,784.92. This represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 127,968 shares of company stock worth $9,419,271. 6.60% of the stock is owned by company insiders.

Charles Schwab Stock Down 1.1 %

Charles Schwab stock traded down $0.89 during trading on Friday, hitting $81.96. 475,311 shares of the company were exchanged, compared to its average volume of 7,960,227. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average is $75.55 and its 200 day moving average is $70.41. The Charles Schwab Co. has a 52 week low of $59.67 and a 52 week high of $83.35. The company has a market capitalization of $145.86 billion, a P/E ratio of 32.36, a PEG ratio of 1.79 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.75 by $0.02. The firm had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.77 EPS. Analysts predict that The Charles Schwab Co. will post 3.12 earnings per share for the current year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date was Friday, November 8th. Charles Schwab’s dividend payout ratio (DPR) is currently 39.06%.

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.