Charles Schwab Co. (SCHW) Position Raised by New York State Teachers Retirement System

New York State Teachers Retirement System grew its holdings in shares of Charles Schwab Co. (NYSE:SCHW) by 0.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,678,298 shares of the financial services provider’s stock after acquiring an additional 1,331 shares during the quarter. New York State Teachers Retirement System’s holdings in Charles Schwab were worth $71,764,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc raised its stake in shares of Charles Schwab by 0.9% during the third quarter. Vanguard Group Inc now owns 88,586,138 shares of the financial services provider’s stock worth $4,354,008,000 after acquiring an additional 820,257 shares in the last quarter. Northern Trust Corp raised its stake in shares of Charles Schwab by 2.1% during the fourth quarter. Northern Trust Corp now owns 16,655,792 shares of the financial services provider’s stock worth $691,715,000 after acquiring an additional 336,557 shares in the last quarter. Parnassus Investments CA raised its stake in shares of Charles Schwab by 22.3% during the fourth quarter. Parnassus Investments CA now owns 15,623,778 shares of the financial services provider’s stock worth $648,856,000 after acquiring an additional 2,850,678 shares in the last quarter. Harris Associates L P raised its stake in shares of Charles Schwab by 197.1% during the fourth quarter. Harris Associates L P now owns 13,940,097 shares of the financial services provider’s stock worth $578,932,000 after acquiring an additional 9,248,471 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Charles Schwab by 5.9% during the fourth quarter. Geode Capital Management LLC now owns 13,627,245 shares of the financial services provider’s stock worth $564,801,000 after acquiring an additional 758,069 shares in the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have commented on SCHW shares. UBS Group downgraded shares of Charles Schwab from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $48.00 to $42.00 in a research note on Wednesday, February 20th. ValuEngine downgraded shares of Charles Schwab from a “hold” rating to a “sell” rating in a research note on Friday, February 22nd. Zacks Investment Research raised shares of Charles Schwab from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Thursday, February 7th. Deutsche Bank decreased their price target on shares of Charles Schwab from $54.00 to $53.00 and set a “buy” rating on the stock in a research note on Friday, March 15th. Finally, Credit Suisse Group lifted their target price on shares of Charles Schwab from $50.00 to $54.00 and gave the stock an “outperform” rating in a research note on Thursday, January 17th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. Charles Schwab has an average rating of “Buy” and an average target price of $53.22.

In related news, EVP Terri R. Kallsen sold 41,285 shares of Charles Schwab stock in a transaction on Monday, March 4th. The shares were sold at an average price of $46.75, for a total value of $1,930,073.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Marie A. Chandoha sold 45,046 shares of Charles Schwab stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $45.48, for a total transaction of $2,048,692.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 939,897 shares of company stock worth $42,955,198. 10.90% of the stock is currently owned by company insiders.

Shares of NYSE SCHW traded up $1.07 during mid-day trading on Thursday, hitting $43.81. The stock had a trading volume of 99,949 shares, compared to its average volume of 6,571,616. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.36. Charles Schwab Co. has a 1 year low of $37.83 and a 1 year high of $60.22. The company has a market cap of $57.81 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 1.45 and a beta of 1.33.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Monday, April 15th. The financial services provider reported $0.69 EPS for the quarter, topping the consensus estimate of $0.66 by $0.03. Charles Schwab had a net margin of 35.27% and a return on equity of 20.47%. The company had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same period in the previous year, the firm earned $0.55 earnings per share. The firm’s revenue for the quarter was up 13.6% on a year-over-year basis. Equities research analysts anticipate that Charles Schwab Co. will post 2.77 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Investors of record on Wednesday, May 15th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.55%. The ex-dividend date is Tuesday, May 14th. Charles Schwab’s dividend payout ratio (DPR) is currently 27.76%.

Charles Schwab announced that its board has authorized a stock repurchase plan on Wednesday, January 30th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 6.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

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Charles Schwab Profile

The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.

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Institutional Ownership by Quarter for Charles Schwab (NYSE:SCHW)

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