New Mexico Educational Retirement Board Has $4.82 Million Stake in Charles Schwab Corp (SCHW)
New Mexico Educational Retirement Board lessened its position in Charles Schwab Corp (NYSE:SCHW) by 2.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 110,137 shares of the financial services provider’s stock after selling 3,000 shares during the period. New Mexico Educational Retirement Board’s holdings in Charles Schwab were worth $4,817,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in SCHW. Vanguard Group Inc. boosted its holdings in shares of Charles Schwab by 3.2% during the 2nd quarter. Vanguard Group Inc. now owns 81,925,586 shares of the financial services provider’s stock worth $3,519,523,000 after buying an additional 2,536,947 shares during the period. BlackRock Inc. boosted its holdings in shares of Charles Schwab by 2.5% during the 2nd quarter. BlackRock Inc. now owns 73,666,134 shares of the financial services provider’s stock worth $3,164,699,000 after buying an additional 1,790,015 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Charles Schwab by 1.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 39,576,199 shares of the financial services provider’s stock worth $1,700,193,000 after buying an additional 491,451 shares during the period. FMR LLC boosted its holdings in shares of Charles Schwab by 11.3% during the 2nd quarter. FMR LLC now owns 30,766,004 shares of the financial services provider’s stock worth $1,321,708,000 after buying an additional 3,128,532 shares during the period. Finally, Capital Research Global Investors boosted its holdings in shares of Charles Schwab by 86.3% during the 2nd quarter. Capital Research Global Investors now owns 24,237,199 shares of the financial services provider’s stock worth $1,041,230,000 after buying an additional 11,224,199 shares during the period. 79.84% of the stock is owned by institutional investors.
SCHW has been the subject of several research analyst reports. BidaskClub downgraded shares of Charles Schwab from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 17th. Jefferies Group reaffirmed a “buy” rating and set a $49.00 target price on shares of Charles Schwab in a report on Friday, September 15th. Morgan Stanley lifted their target price on shares of Charles Schwab from $51.00 to $53.00 and gave the stock an “overweight” rating in a report on Thursday, October 5th. Deutsche Bank lifted their price objective on shares of Charles Schwab from $46.00 to $47.00 and gave the stock a “hold” rating in a research note on Wednesday, October 25th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $47.00 price objective on shares of Charles Schwab in a research note on Friday, September 15th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Charles Schwab presently has a consensus rating of “Buy” and a consensus target price of $48.31.
Shares of Charles Schwab Corp (SCHW) traded down $0.13 during trading on Friday, reaching $50.20. 6,911,500 shares of the company’s stock traded hands, compared to its average volume of 7,076,034. Charles Schwab Corp has a twelve month low of $37.16 and a twelve month high of $51.98. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.21. The firm has a market cap of $67,471.20, a PE ratio of 32.26, a price-to-earnings-growth ratio of 2.14 and a beta of 1.74.
Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.01. Charles Schwab had a net margin of 27.30% and a return on equity of 15.77%. The business had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter in the previous year, the company earned $0.35 EPS. The business’s revenue was up 13.1% on a year-over-year basis. equities analysts forecast that Charles Schwab Corp will post 1.62 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 24th. Stockholders of record on Friday, November 10th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend was Thursday, November 9th. Charles Schwab’s payout ratio is presently 20.51%.
In other news, EVP Bernard J. Clark sold 75,244 shares of the business’s stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $43.98, for a total value of $3,309,231.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Walter W. Bettinger bought 72,510 shares of the company’s stock in a transaction dated Tuesday, November 7th. The stock was purchased at an average price of $27.21 per share, with a total value of $1,972,997.10. Following the completion of the transaction, the insider now directly owns 41,330 shares in the company, valued at approximately $1,124,589.30. The disclosure for this purchase can be found here. Insiders sold a total of 1,778,324 shares of company stock valued at $82,710,964 over the last 90 days. Corporate insiders own 12.00% of the company’s stock.
Charles Schwab Company Profile
The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.
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