Retirement Systems of Alabama Buys 152,967 Shares of The Charles Schwab Co. (NYSE:SCHW)

Retirement Systems of Alabama raised its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 13.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,329,388 shares of the financial services provider’s stock after acquiring an additional 152,967 shares during the quarter. Retirement Systems of Alabama owned approximately 0.08% of Charles Schwab worth $91,462,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Massachusetts Financial Services Co. MA boosted its position in shares of Charles Schwab by 26.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 29,775,952 shares of the financial services provider’s stock worth $1,634,700,000 after purchasing an additional 6,195,934 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Charles Schwab by 186.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 7,107,176 shares of the financial services provider’s stock worth $390,234,000 after acquiring an additional 4,624,302 shares during the last quarter. Van ECK Associates Corp raised its stake in Charles Schwab by 134.3% in the 3rd quarter. Van ECK Associates Corp now owns 5,300,286 shares of the financial services provider’s stock worth $290,986,000 after acquiring an additional 3,038,517 shares during the last quarter. Lazard Asset Management LLC raised its stake in Charles Schwab by 31.1% in the 3rd quarter. Lazard Asset Management LLC now owns 7,247,335 shares of the financial services provider’s stock worth $397,877,000 after acquiring an additional 1,717,137 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its stake in Charles Schwab by 3,123.9% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,360,400 shares of the financial services provider’s stock worth $74,686,000 after acquiring an additional 1,318,203 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SCHW. Bank of America raised their target price on Charles Schwab from $68.00 to $70.00 and gave the stock an “underperform” rating in a research note on Tuesday, April 16th. Raymond James reduced their target price on Charles Schwab from $78.00 to $75.00 and set an “outperform” rating for the company in a research note on Thursday, January 18th. Deutsche Bank Aktiengesellschaft lifted their price objective on Charles Schwab from $75.00 to $77.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Piper Sandler lifted their price objective on Charles Schwab from $75.00 to $78.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. Finally, TD Cowen lifted their price objective on Charles Schwab from $87.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and seven 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 target price of $74.47.

Charles Schwab Price Performance

SCHW stock traded up $0.10 during trading on Friday, hitting $74.99. The stock had a trading volume of 5,560,677 shares, compared to its average volume of 7,173,721. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.43 and a quick ratio of 0.43. The Charles Schwab Co. has a twelve month low of $45.65 and a twelve month high of $75.55. The stock has a market capitalization of $133.19 billion, a P/E ratio of 31.38, a PEG ratio of 1.10 and a beta of 1.01. The company’s 50-day moving average price is $69.68 and its two-hundred day moving average price is $63.92.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend is Thursday, May 9th. Charles Schwab’s dividend payout ratio is currently 41.84%.

Insider Transactions at Charles Schwab

In other news, Chairman Charles R. Schwab sold 58,500 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $64.60, for a total transaction of $3,779,100.00. Following the transaction, the chairman now directly owns 61,192,538 shares in the company, valued at approximately $3,953,037,954.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Jonathan M. Craig sold 4,977 shares of Charles Schwab stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $70.01, for a total transaction of $348,439.77. Following the sale, the insider now owns 81,446 shares of the company’s stock, valued at approximately $5,702,034.46. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Charles R. Schwab sold 58,500 shares of Charles Schwab stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $64.60, for a total transaction of $3,779,100.00. Following the sale, the chairman now directly owns 61,192,538 shares in the company, valued at approximately $3,953,037,954.80. The disclosure for this sale can be found here. Insiders have sold a total of 394,648 shares of company stock worth $27,400,905 in the last ninety days. Insiders own 6.60% of the company’s stock.

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.