The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund cut its holdings in The Charles Schwab Co. (NYSE:SCHW) by 7.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,089 shares of the financial services provider’s stock after selling 3,141 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Charles Schwab were worth $3,041,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its holdings in Charles Schwab by 0.7% during the 3rd quarter. State Street Corp now owns 62,076,447 shares of the financial services provider’s stock worth $4,023,175,000 after buying an additional 414,949 shares during the period. Geode Capital Management LLC increased its holdings in shares of Charles Schwab by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 30,141,441 shares of the financial services provider’s stock valued at $1,945,614,000 after purchasing an additional 445,304 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Charles Schwab by 6.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock valued at $1,858,706,000 after buying an additional 1,711,312 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Charles Schwab by 15.0% in the 3rd quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock valued at $1,644,674,000 after buying an additional 3,157,923 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in shares of Charles Schwab by 2.5% in the 3rd quarter. Fisher Asset Management LLC now owns 20,189,558 shares of the financial services provider’s stock valued at $1,308,485,000 after buying an additional 493,264 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

Charles Schwab Stock Down 1.5 %

NYSE:SCHW opened at $80.32 on Tuesday. The firm has a market capitalization of $142.94 billion, a price-to-earnings ratio of 26.86, a price-to-earnings-growth ratio of 1.02 and a beta of 0.99. The Charles Schwab Co. has a twelve month low of $61.01 and a twelve month high of $84.50. The stock’s 50 day moving average price is $78.03 and its two-hundred day moving average price is $72.45. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.90 by $0.11. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The company had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the previous year, the company posted $0.68 EPS. The firm’s revenue for the quarter was up 19.5% compared to the same quarter last year. Equities research analysts expect that The Charles Schwab Co. will post 4.18 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a $0.27 dividend. The ex-dividend date is Friday, February 14th. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 1.34%. Charles Schwab’s payout ratio is 33.44%.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, Director Arun Sarin sold 8,548 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total value of $699,397.36. Following the completion of the transaction, the director now directly owns 18,617 shares in the company, valued at approximately $1,523,242.94. This represents a 31.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Walter W. Bettinger sold 464,629 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the completion of the transaction, the chairman now owns 827,377 shares of the company’s stock, valued at approximately $67,770,450.07. This trade represents a 35.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 502,859 shares of company stock valued at $41,161,496 in the last three months. Corporate insiders own 6.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SCHW shares. Wells Fargo & Company raised Charles Schwab from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $89.00 to $93.00 in a research report on Wednesday, January 22nd. Barclays upped their target price on Charles Schwab from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Citigroup increased their price objective on Charles Schwab from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft increased their price objective on Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Finally, Piper Sandler increased their price objective on Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. 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 company. According to MarketBeat.com, Charles Schwab presently has a consensus rating of “Hold” and an average price target of $84.56.

Charles Schwab Company 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.