New York State Teachers Retirement System Sells 31,030 Shares of The Charles Schwab Co. (NYSE:SCHW)

New York State Teachers Retirement System trimmed its stake in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,262,384 shares of the financial services provider's stock after selling 31,030 shares during the quarter. New York State Teachers Retirement System owned 0.07% of Charles Schwab worth $93,429,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SCHW. Gladstone Institutional Advisory LLC increased its holdings in shares of Charles Schwab by 2.0% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 6,247 shares of the financial services provider's stock worth $462,000 after purchasing an additional 124 shares during the period. N.E.W. Advisory Services LLC grew its position in Charles Schwab by 1.7% during the fourth quarter. N.E.W. Advisory Services LLC now owns 7,522 shares of the financial services provider's stock worth $557,000 after buying an additional 125 shares in the last quarter. Stablepoint Partners LLC increased its stake in Charles Schwab by 1.1% in the 4th quarter. Stablepoint Partners LLC now owns 12,486 shares of the financial services provider's stock worth $924,000 after acquiring an additional 141 shares during the last quarter. Alliance Wealth Advisors LLC raised its holdings in shares of Charles Schwab by 2.7% in the 3rd quarter. Alliance Wealth Advisors LLC now owns 5,358 shares of the financial services provider's stock valued at $347,000 after acquiring an additional 142 shares in the last quarter. Finally, Index Fund Advisors Inc. boosted its position in shares of Charles Schwab by 1.6% during the 4th quarter. Index Fund Advisors Inc. now owns 8,847 shares of the financial services provider's stock valued at $655,000 after acquiring an additional 143 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company's stock.

Analyst Upgrades and Downgrades

SCHW has been the topic of several research analyst reports. Jefferies Financial Group upped their price objective on shares of Charles Schwab from $84.00 to $94.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Keefe, Bruyette & Woods increased their price target on shares of Charles Schwab from $81.00 to $93.00 and gave the stock an "outperform" rating in a report on Friday, December 20th. Citigroup raised their price objective on shares of Charles Schwab from $80.00 to $85.00 and gave the company a "neutral" rating in a research report on Wednesday, January 22nd. Morgan Stanley upped their target price on shares of Charles Schwab from $84.00 to $91.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. Finally, Piper Sandler increased their target price on Charles Schwab from $65.00 to $70.00 and gave the company a "neutral" rating in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Charles Schwab currently has an average rating of "Hold" and a consensus target price of $84.56.

Charles Schwab Trading Down 1.5 %

Shares of SCHW stock traded down $1.25 during mid-day trading on Monday, reaching $80.32. The stock had a trading volume of 9,582,857 shares, compared to its average volume of 8,230,443. The firm has a market capitalization of $142.94 billion, a PE ratio of 26.86, a price-to-earnings-growth ratio of 1.02 and a beta of 0.99. 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 current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The Charles Schwab Co. has a 52-week low of $61.01 and a 52-week high of $84.50.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the previous year, the business earned $0.68 EPS. Charles Schwab's revenue was up 19.5% compared to the same quarter last year. Equities analysts expect that The Charles Schwab Co. will post 4.18 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

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

Insider Buying and Selling

In other news, Director Arun Sarin sold 8,548 shares of the stock in a transaction that occurred on Thursday, January 23rd. The stock was 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 owns 18,617 shares of the company's stock, 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan S. Beatty sold 2,300 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $82.01, for a total value of $188,623.00. Following the completion of the transaction, the insider now owns 18,069 shares of the company's stock, valued at approximately $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 502,859 shares of company stock valued at $41,161,496 over the last quarter. 6.60% of the stock is owned by company insiders.

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.