New Mexico Educational Retirement Board Sells 1,800 Shares of The Charles Schwab Co. (NYSE:SCHW)

New Mexico Educational Retirement Board cut its holdings in The Charles Schwab Co. (NYSE:SCHW) by 2.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,187 shares of the financial services provider’s stock after selling 1,800 shares during the period. New Mexico Educational Retirement Board’s holdings in Charles Schwab were worth $5,269,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Valeo Financial Advisors LLC raised its position in shares of Charles Schwab by 0.8% in the fourth quarter. Valeo Financial Advisors LLC now owns 38,565 shares of the financial services provider’s stock worth $2,854,000 after buying an additional 303 shares in the last quarter. AustralianSuper Pty Ltd grew its stake in shares of Charles Schwab by 11.6% during the fourth quarter. AustralianSuper Pty Ltd now owns 1,905,316 shares of the financial services provider’s stock valued at $141,012,000 after buying an additional 197,545 shares during the last quarter. Kanawha Capital Management LLC bought a new position in shares of Charles Schwab during the fourth quarter valued at about $934,000. Asset Planning Inc bought a new position in shares of Charles Schwab during the fourth quarter valued at about $99,000. Finally, Banque Pictet & Cie SA grew its stake in shares of Charles Schwab by 0.3% during the fourth quarter. Banque Pictet & Cie SA now owns 153,030 shares of the financial services provider’s stock valued at $11,326,000 after buying an additional 510 shares during the last quarter. 84.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on SCHW shares. Wells Fargo & Company raised Charles Schwab from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $89.00 to $93.00 in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. lifted their price objective on Charles Schwab from $87.00 to $93.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft lifted their price objective on Charles Schwab from $98.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Barclays lifted their target price on shares of Charles Schwab from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Finally, UBS Group lifted their target price on shares of Charles Schwab from $90.00 to $95.00 and gave the company a “buy” rating in a report on Monday, January 27th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Charles Schwab currently has an average rating of “Hold” and a consensus price target of $84.56.

Charles Schwab Price Performance

Shares of SCHW opened at $80.32 on Friday. The firm has a market cap of $142.94 billion, a PE ratio of 26.86, a P/E/G ratio of 1.02 and a beta of 0.99. 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 firm has a fifty day simple moving average of $78.06 and a two-hundred day simple moving average of $72.25. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $84.50.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The business had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same period in the previous year, the business earned $0.68 EPS. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. On average, equities analysts anticipate that The Charles Schwab Co. will post 4.18 EPS for the current year.

Charles Schwab Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a dividend of $0.27 per share. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.34%. Charles Schwab’s payout ratio is presently 33.44%.

Insider Activity

In other Charles Schwab news, Chairman Walter W. Bettinger sold 464,629 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total value of $38,057,761.39. Following the completion of the sale, the chairman now owns 827,377 shares in the company, valued at approximately $67,770,450.07. This represents a 35.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 value of $188,623.00. Following the completion of the sale, the insider now owns 18,069 shares of the company’s stock, valued at $1,481,838.69. The trade was a 11.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 512,143 shares of company stock valued at $41,917,493 in the last 90 days. Company insiders own 6.60% of the company’s stock.

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.