Maryland State Retirement & Pension System Has $5.93 Million Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Maryland State Retirement & Pension System cut its position in The Charles Schwab Co. (NYSE:SCHW) by 6.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 80,053 shares of the financial services provider’s stock after selling 5,946 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Charles Schwab were worth $5,925,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Prospera Private Wealth LLC acquired a new position in shares of Charles Schwab during the third quarter worth approximately $31,000. Atala Financial Inc acquired a new position in Charles Schwab during the 4th quarter valued at $41,000. Knuff & Co LLC boosted its holdings in Charles Schwab by 1,309.3% in the 4th quarter. Knuff & Co LLC now owns 606 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 563 shares during the period. Financial Life Planners acquired a new stake in Charles Schwab in the 4th quarter worth $46,000. Finally, Whipplewood Advisors LLC bought a new position in shares of Charles Schwab during the 4th quarter worth about $46,000. Institutional investors own 84.38% of the company’s stock.

Insider Buying and Selling

In other news, insider Paul V. Woolway sold 3,380 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $79.32, for a total transaction of $268,101.60. Following the completion of the sale, the insider now owns 57,818 shares in the company, valued at $4,586,123.76. The trade was a 5.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Walter W. Bettinger sold 464,629 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total value of $38,057,761.39. Following the completion of the transaction, the chairman now owns 827,377 shares in the company, valued at approximately $67,770,450.07. This represents a 35.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 501,087 shares of company stock worth $40,952,233 in the last quarter. Insiders own 6.60% of the company’s stock.

Analyst Ratings Changes

SCHW has been the topic of a number of recent research reports. Piper Sandler lifted their target price on Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. TD Cowen upgraded Charles Schwab from a “hold” rating to a “buy” rating and boosted their price objective for the company from $88.00 to $103.00 in a research report on Tuesday, February 18th. Morgan Stanley raised their target price on Charles Schwab from $84.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Keefe, Bruyette & Woods boosted their price target on shares of Charles Schwab from $81.00 to $93.00 and gave the company an “outperform” rating in a report on Friday, December 20th. Finally, Barclays raised their price objective on shares of Charles Schwab from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $86.33.

Charles Schwab Price Performance

Charles Schwab stock opened at $78.72 on Thursday. The business’s fifty day moving average is $78.76 and its two-hundred day moving average is $74.60. 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 firm has a market cap of $142.76 billion, a P/E ratio of 26.33, a P/E/G ratio of 0.99 and a beta of 0.98. The Charles Schwab Co. has a 52 week low of $61.01 and a 52 week high of $84.50.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.11. The business had revenue of $5.33 billion for the quarter, compared to the consensus estimate of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The firm’s quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.68 EPS. Equities research analysts forecast that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a $0.27 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.37%. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio (DPR) is currently 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.