The Charles Schwab Co. (NYSE:SCHW) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky cut its holdings in The Charles Schwab Co. (NYSE:SCHW - Free Report) by 54.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 111,984 shares of the financial services provider's stock after selling 131,902 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Charles Schwab were worth $7,257,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Washington Trust Advisors Inc. increased its stake in Charles Schwab by 62.6% during the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider's stock worth $25,000 after buying an additional 149 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Charles Schwab during the third quarter worth approximately $25,000. American Capital Advisory LLC acquired a new position in Charles Schwab in the 2nd quarter valued at $27,000. Mizuho Securities Co. Ltd. purchased a new position in Charles Schwab in the 2nd quarter valued at $29,000. Finally, Prospera Private Wealth LLC acquired a new stake in Charles Schwab during the 3rd quarter worth $31,000. 84.38% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total transaction of $576,450.00. Following the completion of the transaction, the director now directly owns 554,929 shares of the company's stock, valued at $35,543,202.45. This trade represents a 1.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jonathan S. Beatty sold 2,300 shares of the stock in a transaction 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 sale, the insider now owns 18,069 shares in the company, valued at approximately $1,481,838.69. This trade represents a 11.29 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 127,968 shares of company stock worth $9,419,271. Company insiders own 6.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SCHW shares. Raymond James decreased their price target on shares of Charles Schwab from $76.00 to $73.00 in a research note on Tuesday, October 15th. Piper Sandler raised their target price on shares of Charles Schwab from $64.00 to $65.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 16th. Morgan Stanley increased their price target on Charles Schwab from $68.00 to $74.00 and gave the company an "equal weight" rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods boosted their price objective on Charles Schwab from $76.00 to $81.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 16th. Finally, Barclays raised Charles Schwab from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $74.00 to $95.00 in a research note on Monday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $79.75.

Charles Schwab Stock Performance

Charles Schwab stock traded down $3.31 during mid-day trading on Friday, reaching $79.54. 12,660,087 shares of the company were exchanged, compared to its average volume of 8,017,958. The firm's 50-day simple moving average is $75.55 and its two-hundred day simple moving average is $70.41. The Charles Schwab Co. has a twelve month low of $59.67 and a twelve month high of $83.35. The firm has a market cap of $141.55 billion, a PE ratio of 32.36, a price-to-earnings-growth ratio of 1.79 and a beta of 0.96. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47.

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

Charles Schwab Dividend Announcement

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

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.