Teacher Retirement System of Texas Purchases 84,297 Shares of The Charles Schwab Co. (NYSE:SCHW)

Teacher Retirement System of Texas grew its position in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 833.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 94,412 shares of the financial services provider's stock after buying an additional 84,297 shares during the period. Teacher Retirement System of Texas' holdings in Charles Schwab were worth $6,987,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp boosted its position in Charles Schwab by 0.7% during the third quarter. State Street Corp now owns 62,076,447 shares of the financial services provider's stock worth $4,023,175,000 after purchasing an additional 414,949 shares during the period. Geode Capital Management LLC increased its position in shares of Charles Schwab by 1.5% during the third 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 buying an additional 445,304 shares during the period. Franklin Resources Inc. boosted its stake in Charles Schwab by 15.0% during the third 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 during the period. Fisher Asset Management LLC grew its position in Charles Schwab by 1.3% during the fourth quarter. Fisher Asset Management LLC now owns 20,455,266 shares of the financial services provider's stock worth $1,513,894,000 after buying an additional 265,708 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Charles Schwab by 0.6% during the 4th quarter. Bank of New York Mellon Corp now owns 10,438,852 shares of the financial services provider's stock valued at $772,579,000 after acquiring an additional 60,683 shares during the last quarter. Institutional investors own 84.38% of the company's stock.

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Insider Buying and Selling at Charles Schwab

In related news, Chairman Walter W. Bettinger sold 464,629 shares of the stock in a transaction dated 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 sale, the chairman now directly owns 827,377 shares of the company's stock, valued at approximately $67,770,450.07. This represents a 35.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul V. Woolway sold 9,887 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $75.38, for a total transaction of $745,282.06. Following the completion of the transaction, the insider now owns 47,931 shares in the company, valued at approximately $3,613,038.78. This represents a 17.10 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 501,087 shares of company stock valued at $40,952,233. 6.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Piper Sandler raised their target price on shares of Charles Schwab from $65.00 to $70.00 and gave the company a "neutral" rating in a research note on Tuesday, January 7th. Redburn Partners dropped their price target on Charles Schwab from $70.00 to $68.00 and set a "sell" rating for the company in a research note on Friday, January 17th. Barclays boosted their target price on Charles Schwab from $95.00 to $96.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 22nd. Morgan Stanley boosted their price objective on shares of Charles Schwab from $84.00 to $91.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Finally, Truist Financial lifted their target price on shares of Charles Schwab from $90.00 to $91.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, Charles Schwab currently has an average rating of "Hold" and a consensus price target of $86.33.

Charles Schwab Trading Up 0.9 %

SCHW stock traded up $0.71 on Tuesday, reaching $80.67. The company's stock had a trading volume of 3,031,002 shares, compared to its average volume of 8,442,138. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The business has a fifty day simple moving average of $79.14 and a two-hundred day simple moving average of $74.98. The firm has a market cap of $146.29 billion, a PE ratio of 26.98, a PEG ratio of 0.99 and a beta of 0.98. The Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $84.50.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, beating analysts' consensus estimates of $0.90 by $0.11. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The firm had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the previous year, the firm posted $0.68 EPS. The company's revenue for the quarter was up 19.5% compared to the same quarter last year. As a group, research analysts forecast that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a $0.27 dividend. This is an increase from Charles Schwab's previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.34%. Charles Schwab's dividend payout ratio is 36.12%.

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.