Arizona State Retirement System Buys 4,868 Shares of The Charles Schwab Co. (NYSE:SCHW)

Arizona State Retirement System grew its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 1.1% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 437,020 shares of the financial services provider’s stock after acquiring an additional 4,868 shares during the quarter. Arizona State Retirement System’s holdings in Charles Schwab were worth $32,204,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Charles Schwab by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider’s stock valued at $8,750,473,000 after acquiring an additional 1,042,823 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Charles Schwab by 4.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock worth $5,230,657,000 after buying an additional 2,946,327 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Charles Schwab by 4.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 30,994,967 shares of the financial services provider’s stock worth $2,132,454,000 after buying an additional 1,219,015 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of Charles Schwab by 1.6% during the 4th quarter. Fisher Asset Management LLC now owns 18,623,505 shares of the financial services provider’s stock worth $1,281,297,000 after buying an additional 292,155 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Charles Schwab during the 4th quarter worth $950,192,000. 84.38% of the stock is currently owned by institutional investors.

Charles Schwab Price Performance

Shares of SCHW opened at $63.65 on Friday. The Charles Schwab Co. has a 1 year low of $48.66 and a 1 year high of $79.49. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42. The company has a market capitalization of $113.20 billion, a price-to-earnings ratio of 26.65, a price-to-earnings-growth ratio of 1.22 and a beta of 0.97. The business has a 50-day moving average of $66.66 and a 200-day moving average of $70.07.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.68 billion. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The firm’s revenue was up .7% compared to the same quarter last year. During the same period last year, the company earned $0.75 earnings per share. As a group, equities research analysts anticipate that The Charles Schwab Co. will post 3.05 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were issued a $0.25 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.00 dividend on an annualized basis and a yield of 1.57%. Charles Schwab’s payout ratio is currently 41.84%.

Insiders Place Their Bets

In other Charles Schwab news, insider Bernard J. Clark sold 8,164 shares of Charles Schwab stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $75.00, for a total value of $612,300.00. Following the completion of the sale, the insider now directly owns 121,666 shares in the company, valued at $9,124,950. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, President Richard A. Wurster acquired 10,000 shares of Charles Schwab stock in a transaction on Wednesday, July 17th. The stock was purchased at an average price of $62.05 per share, with a total value of $620,500.00. Following the completion of the purchase, the president now owns 144,228 shares of the company’s stock, valued at approximately $8,949,347.40. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Bernard J. Clark sold 8,164 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $75.00, for a total value of $612,300.00. Following the completion of the sale, the insider now directly owns 121,666 shares of the company’s stock, valued at approximately $9,124,950. The disclosure for this sale can be found here. Over the last three months, insiders sold 107,800 shares of company stock worth $7,145,364. 6.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on SCHW shares. Bank of America dropped their price objective on Charles Schwab from $72.00 to $66.00 and set an “underperform” rating for the company in a research report on Wednesday, July 17th. Piper Sandler downgraded Charles Schwab from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $80.00 to $64.00 in a research report on Monday, July 29th. Barclays lowered their target price on Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating for the company in a report on Wednesday, July 17th. Morgan Stanley lowered their target price on Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, August 16th. Finally, JMP Securities lowered their target price on Charles Schwab from $85.00 to $82.00 and set a “market outperform” rating for the company in a report on Tuesday, July 23rd. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $74.00.

About Charles Schwab

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.