New York State Teachers Retirement System Grows Holdings in The Charles Schwab Corporation $SCHW

New York State Teachers Retirement System boosted its position in The Charles Schwab Corporation (NYSE:SCHW) by 10.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,394,190 shares of the financial services provider’s stock after buying an additional 136,692 shares during the quarter. New York State Teachers Retirement System’s holdings in Charles Schwab were worth $133,103,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Charles Schwab by 1.9% in the second quarter. Vanguard Group Inc. now owns 151,182,081 shares of the financial services provider’s stock worth $13,793,853,000 after acquiring an additional 2,786,829 shares in the last quarter. State Street Corp increased its holdings in Charles Schwab by 0.7% during the 2nd quarter. State Street Corp now owns 72,464,619 shares of the financial services provider’s stock worth $6,611,672,000 after purchasing an additional 531,329 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Charles Schwab by 2.9% in the 2nd quarter. Geode Capital Management LLC now owns 37,381,183 shares of the financial services provider’s stock valued at $3,399,181,000 after purchasing an additional 1,038,376 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Charles Schwab by 2.8% during the 2nd quarter. Franklin Resources Inc. now owns 30,035,937 shares of the financial services provider’s stock valued at $2,740,479,000 after buying an additional 815,625 shares during the last quarter. Finally, Fisher Asset Management LLC grew its position in shares of Charles Schwab by 1.0% during the second quarter. Fisher Asset Management LLC now owns 21,376,690 shares of the financial services provider’s stock worth $1,950,409,000 after buying an additional 211,527 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 3,072 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $98.00, for a total value of $301,056.00. Following the completion of the transaction, the insider owned 11,923 shares in the company, valued at approximately $1,168,454. This represents a 20.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.30% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on SCHW. Morgan Stanley raised their price objective on shares of Charles Schwab from $139.00 to $148.00 and gave the stock an “overweight” rating in a report on Monday, December 22nd. The Goldman Sachs Group reiterated a “buy” rating and issued a $114.00 price target on shares of Charles Schwab in a research note on Friday, October 17th. TD Cowen upped their price objective on Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a research note on Friday, October 17th. BMO Capital Markets initiated coverage on Charles Schwab in a report on Friday, October 3rd. They set an “outperform” rating and a $110.00 target price on the stock. Finally, Cowen reiterated a “buy” rating on shares of Charles Schwab in a report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $111.25.

Charles Schwab Trading Down 1.1%

Shares of NYSE SCHW opened at $100.19 on Friday. The Charles Schwab Corporation has a 12-month low of $65.88 and a 12-month high of $104.76. The company has a market cap of $178.03 billion, a price-to-earnings ratio of 23.46, a price-to-earnings-growth ratio of 0.70 and a beta of 0.94. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.47. The stock’s 50 day simple moving average is $96.33 and its 200 day simple moving average is $95.10.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.06. The firm had revenue of $6.38 billion for the quarter, compared to analyst estimates of $5.93 billion. Charles Schwab had a return on equity of 21.02% and a net margin of 35.93%.The firm’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same period last year, the company earned $0.71 earnings per share. Equities research analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were given a $0.27 dividend. The ex-dividend date was Friday, November 14th. This represents a $1.08 annualized dividend and a yield of 1.1%. Charles Schwab’s dividend payout ratio (DPR) is currently 25.29%.

Charles Schwab Company Profile

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.