Retirement Systems of Alabama Has $72.05 Million Position in The Charles Schwab Co. (NYSE:SCHW)

Retirement Systems of Alabama lowered its position in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 1.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,111,755 shares of the financial services provider's stock after selling 11,161 shares during the quarter. Retirement Systems of Alabama owned approximately 0.06% of Charles Schwab worth $72,053,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SCHW. Benjamin Edwards Inc. boosted its holdings in Charles Schwab by 2,840.7% in the third quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider's stock worth $398,000 after purchasing an additional 5,937 shares in the last quarter. Patten & Patten Inc. TN boosted its stake in shares of Charles Schwab by 155.9% during the 3rd quarter. Patten & Patten Inc. TN now owns 104,168 shares of the financial services provider's stock worth $6,751,000 after acquiring an additional 63,463 shares in the last quarter. Equity Investment Corp increased its holdings in shares of Charles Schwab by 9.4% during the 3rd quarter. Equity Investment Corp now owns 1,640,157 shares of the financial services provider's stock valued at $106,299,000 after acquiring an additional 140,643 shares during the last quarter. Teewinot Capital Advisers L.L.C. raised its stake in shares of Charles Schwab by 9.0% in the 2nd quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider's stock valued at $57,122,000 after acquiring an additional 64,041 shares in the last quarter. Finally, Iowa State Bank lifted its holdings in Charles Schwab by 37.9% in the 3rd quarter. Iowa State Bank now owns 28,476 shares of the financial services provider's stock worth $1,846,000 after purchasing an additional 7,829 shares during the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SCHW has been the topic of a number of recent analyst reports. JMP Securities reissued a "market outperform" rating and issued a $94.00 price target (up previously from $84.00) on shares of Charles Schwab in a research report on Monday. JPMorgan Chase & Co. boosted their target price on shares of Charles Schwab from $86.00 to $87.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 16th. Jefferies Financial Group raised their price target on Charles Schwab from $84.00 to $94.00 and gave the company a "buy" rating in a research report on Monday. The Goldman Sachs Group boosted their price objective on Charles Schwab from $67.00 to $74.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 16th. Finally, Cowen raised their target price on Charles Schwab from $69.00 to $75.00 and gave the company a "hold" rating in a report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $79.75.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total value of $576,450.00. Following the transaction, the director now directly owns 554,929 shares in the company, valued at approximately $35,543,202.45. This trade represents a 1.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Charles R. Schwab sold 62,345 shares of the business's stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total value of $4,521,259.40. Following the sale, the chairman now owns 60,619,371 shares of the company's stock, valued at approximately $4,396,116,784.92. The trade was a 0.10 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 127,968 shares of company stock worth $9,419,271. 6.60% of the stock is currently owned by insiders.

Charles Schwab Price Performance

SCHW stock traded down $3.31 during trading on Friday, hitting $79.54. The company had a trading volume of 12,660,087 shares, compared to its average volume of 8,017,958. The company has a fifty day moving average price of $75.55 and a two-hundred day moving average price of $70.41. The Charles Schwab Co. has a fifty-two week low of $59.67 and a fifty-two week high of $83.35. The company has a market cap of $141.55 billion, a P/E ratio of 32.36, a P/E/G ratio of 1.79 and a beta of 0.96. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.02. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The firm's quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.77 EPS. Equities research analysts expect that The Charles Schwab Co. will post 3.12 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.26%. Charles Schwab's dividend payout ratio is 39.06%.

About Charles Schwab

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.