Texas Permanent School Fund Corp Increases Position in The Charles Schwab Co. (NYSE:SCHW)

Texas Permanent School Fund Corp lifted its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 0.3% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 343,437 shares of the financial services provider’s stock after buying an additional 1,178 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Charles Schwab were worth $24,844,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SCHW. Price T Rowe Associates Inc. MD raised its stake in Charles Schwab by 33.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 69,360,233 shares of the financial services provider’s stock valued at $4,771,985,000 after purchasing an additional 17,369,091 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Charles Schwab by 4.1% in the fourth 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 in the last quarter. Fisher Asset Management LLC boosted its position in shares of Charles Schwab by 1.6% during the fourth quarter. Fisher Asset Management LLC now owns 18,627,667 shares of the financial services provider’s stock worth $1,281,584,000 after acquiring an additional 296,317 shares during the last quarter. Norges Bank purchased a new position in Charles Schwab during the fourth quarter valued at $950,192,000. Finally, Putnam Investments LLC increased its holdings in Charles Schwab by 4.8% in the 4th quarter. Putnam Investments LLC now owns 12,237,705 shares of the financial services provider’s stock valued at $841,954,000 after acquiring an additional 560,110 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Citigroup raised their price objective on Charles Schwab from $70.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. JPMorgan Chase & Co. cut their price target on Charles Schwab from $89.00 to $81.00 and set an “overweight” rating for the company in a report on Friday, May 31st. Barclays upped their price objective on Charles Schwab from $72.00 to $77.00 and gave the stock an “equal weight” rating in a report on Wednesday. JMP Securities reissued a “market outperform” rating and issued a $80.00 target price on shares of Charles Schwab in a report on Tuesday, May 28th. Finally, Morgan Stanley decreased their price target on shares of Charles Schwab from $73.00 to $71.00 and set an “equal weight” rating on the stock in a research note on Thursday. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $77.75.

Charles Schwab Trading Up 1.9 %

SCHW stock traded up $1.44 during midday trading on Thursday, reaching $76.07. The company’s stock had a trading volume of 5,796,036 shares, compared to its average volume of 7,181,804. The Charles Schwab Co. has a 1 year low of $48.66 and a 1 year high of $79.49. The firm has a market capitalization of $135.20 billion, a price-to-earnings ratio of 31.76, a PEG ratio of 1.13 and a beta of 0.99. The stock has a fifty day simple moving average of $74.29 and a two-hundred day simple moving average of $70.09. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.42 and a current ratio of 0.42.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Monday, April 15th. The financial services provider reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The company had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.71 billion. Charles Schwab had a net margin of 26.14% and a return on equity of 19.25%. On average, equities research analysts predict that The Charles Schwab Co. will post 3.25 EPS for the current year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend was Thursday, May 9th. Charles Schwab’s dividend payout ratio (DPR) is presently 41.84%.

Insiders Place Their Bets

In other news, Director Mark A. Goldfarb sold 7,100 shares of the firm’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $70.86, for a total transaction of $503,106.00. Following the transaction, the director now owns 19,917 shares in the company, valued at $1,411,318.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Charles Schwab news, CFO Peter B. Crawford sold 5,481 shares of the company’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $75.51, for a total transaction of $413,870.31. Following the completion of the sale, the chief financial officer now owns 60,567 shares in the company, valued at $4,573,414.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Mark A. Goldfarb sold 7,100 shares of the business’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $70.86, for a total value of $503,106.00. Following the completion of the transaction, the director now directly owns 19,917 shares of the company’s stock, valued at $1,411,318.62. The disclosure for this sale can be found here. In the last ninety days, insiders sold 658,663 shares of company stock worth $48,997,146. 6.60% of the stock is currently owned by company insiders.

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.