New Mexico Educational Retirement Board Sells 3,000 Shares of Charles Schwab Co. (NYSE:SCHW)

New Mexico Educational Retirement Board decreased its holdings in shares of Charles Schwab Co. (NYSE:SCHW) by 3.0% in the second quarter, HoldingsChannel reports. The firm owned 97,237 shares of the financial services provider’s stock after selling 3,000 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Charles Schwab were worth $3,908,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. FNY Investment Advisers LLC raised its position in shares of Charles Schwab by 133.3% in the 2nd quarter. FNY Investment Advisers LLC now owns 700 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 400 shares in the last quarter. Quantamental Technologies LLC purchased a new stake in shares of Charles Schwab in the 1st quarter worth approximately $32,000. Berman Capital Advisors LLC grew its stake in shares of Charles Schwab by 260.7% in the 1st quarter. Berman Capital Advisors LLC now owns 1,046 shares of the financial services provider’s stock worth $44,000 after buying an additional 756 shares during the last quarter. First PREMIER Bank purchased a new stake in shares of Charles Schwab in the 2nd quarter worth approximately $49,000. Finally, Field & Main Bank purchased a new stake in shares of Charles Schwab in the 1st quarter worth approximately $54,000. 80.30% of the stock is owned by institutional investors and hedge funds.

In related news, EVP Jonathan M. Craig sold 3,740 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $40.20, for a total value of $150,348.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mark A. Goldfarb bought 2,595 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average cost of $38.68 per share, for a total transaction of $100,374.60. Following the completion of the acquisition, the director now owns 3,771 shares in the company, valued at approximately $145,862.28. The disclosure for this purchase can be found here. 10.90% of the stock is owned by corporate insiders.

Several research firms recently weighed in on SCHW. Bank of America downgraded Charles Schwab from a “buy” rating to a “neutral” rating and cut their price target for the stock from $49.00 to $43.00 in a research note on Friday, July 12th. Compass Point set a $45.00 price target on Charles Schwab and gave the stock a “hold” rating in a research note on Tuesday, July 2nd. Deutsche Bank cut their price target on Charles Schwab from $37.00 to $36.00 and set a “hold” rating on the stock in a research note on Wednesday. Morgan Stanley cut their price target on Charles Schwab from $53.00 to $46.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th. Finally, Keefe, Bruyette & Woods downgraded Charles Schwab from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $51.00 to $43.50 in a research note on Friday, July 12th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $47.33.

Shares of NYSE SCHW traded up $0.24 during midday trading on Thursday, hitting $37.85. 230,034 shares of the stock traded hands, compared to its average volume of 11,123,750. The firm has a 50-day moving average of $40.26 and a two-hundred day moving average of $43.14. The firm has a market capitalization of $49.28 billion, a P/E ratio of 15.42, a PEG ratio of 2.49 and a beta of 1.25. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.31 and a current ratio of 0.31. Charles Schwab Co. has a one year low of $36.01 and a one year high of $52.70.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.01. The firm had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.68 billion. Charles Schwab had a return on equity of 20.52% and a net margin of 35.29%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.60 EPS. Equities analysts forecast that Charles Schwab Co. will post 2.67 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $0.68 annualized dividend and a dividend yield of 1.80%. Charles Schwab’s payout ratio is 27.76%.

Charles Schwab Company 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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