Maryland State Retirement & Pension System Increases Stake in The Charles Schwab Co. (NYSE:SCHW)

Maryland State Retirement & Pension System raised its position in The Charles Schwab Co. (NYSE:SCHW) by 1.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 115,386 shares of the financial services provider’s stock after purchasing an additional 1,228 shares during the period. Maryland State Retirement & Pension System’s holdings in Charles Schwab were worth $7,939,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Providence Capital Advisors LLC purchased a new position in shares of Charles Schwab during the 3rd quarter worth $28,000. Sugarloaf Wealth Management LLC raised its holdings in shares of 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. purchased a new position in shares of Charles Schwab during the 4th quarter worth $31,000. BluePath Capital Management LLC purchased a new position in shares of Charles Schwab during the 3rd quarter worth $34,000. Finally, Hall Laurie J Trustee purchased a new position in shares of Charles Schwab during the 4th quarter worth $34,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Transactions at Charles Schwab

In related news, CFO Peter B. Crawford sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was 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 directly owns 29,611 shares of the company’s stock, valued at $1,917,608.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman Charles R. Schwab sold 59,906 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $74.78, for a total value of $4,479,770.68. Following the completion of the sale, the chairman now owns 61,038,701 shares in the company, valued at approximately $4,564,474,060.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Peter B. Crawford sold 8,000 shares of the firm’s 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 directly owns 29,611 shares in the company, valued at $1,917,608.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 514,459 shares of company stock valued at $36,371,155. 6.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on SCHW shares. Bank of America lifted their price target on Charles Schwab from $68.00 to $70.00 and gave the stock an “underperform” rating in a report on Tuesday, April 16th. Piper Sandler raised their price objective on Charles Schwab from $75.00 to $78.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. Citigroup raised their price objective on Charles Schwab from $70.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. StockNews.com raised Charles Schwab from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Finally, Morgan Stanley raised their price objective on Charles Schwab from $65.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $74.47.

Charles Schwab Stock Up 1.1 %

Shares of Charles Schwab stock traded up $0.82 on Monday, reaching $76.86. 4,855,876 shares of the company were exchanged, compared to its average volume of 7,605,208. The Charles Schwab Co. has a 1-year low of $46.55 and a 1-year high of $76.93. The company has a market cap of $136.51 billion, a P/E ratio of 32.16, a price-to-earnings-growth ratio of 1.11 and a beta of 0.98. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.43 and a quick ratio of 0.43. The stock’s 50 day moving average price is $71.00 and its 200-day moving average price is $64.98.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend is Thursday, May 9th. Charles Schwab’s dividend payout ratio is presently 41.84%.

Charles Schwab 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.