Kentucky Retirement Systems Has $6.75 Million Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Kentucky Retirement Systems cut its holdings in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 7.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 104,073 shares of the financial services provider's stock after selling 8,428 shares during the period. Kentucky Retirement Systems' holdings in Charles Schwab were worth $6,745,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Kingsview Wealth Management LLC increased its stake in Charles Schwab by 26.3% during the 1st quarter. Kingsview Wealth Management LLC now owns 6,245 shares of the financial services provider's stock valued at $452,000 after buying an additional 1,302 shares during the period. M&G Plc acquired a new position in shares of Charles Schwab during the first quarter valued at approximately $11,452,000. Pinnacle Wealth Planning Services Inc. lifted its position in Charles Schwab by 4.4% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 4,983 shares of the financial services provider's stock worth $360,000 after purchasing an additional 211 shares during the period. Allstate Corp boosted its stake in Charles Schwab by 5.0% during the 1st quarter. Allstate Corp now owns 4,521 shares of the financial services provider's stock valued at $327,000 after purchasing an additional 214 shares in the last quarter. Finally, Patten & Patten Inc. TN increased its position in shares of Charles Schwab by 9.8% during the 1st quarter. Patten & Patten Inc. TN now owns 40,270 shares of the financial services provider's stock valued at $2,913,000 after purchasing an additional 3,610 shares during the period. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Charles Schwab Stock Up 0.6 %

Charles Schwab stock traded up $0.45 during trading hours on Friday, hitting $80.64. The company had a trading volume of 9,372,796 shares, compared to its average volume of 8,107,237. The firm's fifty day moving average is $68.74 and its 200-day moving average is $69.66. The firm has a market capitalization of $143.51 billion, a P/E ratio of 31.50, a price-to-earnings-growth ratio of 1.71 and a beta of 0.96. The Charles Schwab Co. has a fifty-two week low of $55.09 and a fifty-two week high of $82.50. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.42.

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

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Friday, November 8th. Charles Schwab's dividend payout ratio is 39.06%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Cowen raised their target price on Charles Schwab from $69.00 to $75.00 and gave the company a "hold" rating in a research note on Tuesday, October 15th. Jefferies Financial Group dropped their target price on shares of Charles Schwab from $79.00 to $73.00 and set a "buy" rating on the stock in a report on Friday, October 4th. Bank of America decreased their price target on shares of Charles Schwab from $63.00 to $61.00 and set an "underperform" rating on the stock in a research report on Wednesday, October 16th. Raymond James cut their price objective on Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. Finally, JMP Securities increased their price objective on Charles Schwab from $82.00 to $84.00 and gave the company a "market outperform" rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $74.18.

Insider Transactions at Charles Schwab

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company's stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total transaction of $576,450.00. Following the completion of the sale, the director now owns 554,929 shares of the company's stock, valued at $35,543,202.45. This represents a 1.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $4,521,259.40. Following the completion of the sale, the chairman now owns 60,619,371 shares of the company's stock, valued at $4,396,116,784.92. The trade was a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 103,645 shares of company stock worth $7,440,627 in the last 90 days. 6.60% of the stock is owned by insiders.

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.