The Charles Schwab Corporation (NYSE:SCHW) Shares Bought by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board raised its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 11.9% in the 1st quarter, HoldingsChannel reports. The fund owned 79,687 shares of the financial services provider’s stock after acquiring an additional 8,500 shares during the period. New Mexico Educational Retirement Board’s holdings in Charles Schwab were worth $6,238,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Westbourne Investment Advisors Inc. raised its holdings in Charles Schwab by 1.4% in the 1st quarter. Westbourne Investment Advisors Inc. now owns 125,500 shares of the financial services provider’s stock valued at $9,824,000 after acquiring an additional 1,769 shares during the last quarter. Cornerstone Planning Group LLC raised its holdings in Charles Schwab by 90.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 463 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 220 shares during the last quarter. Greenleaf Trust increased its holdings in shares of Charles Schwab by 6.2% during the 1st quarter. Greenleaf Trust now owns 57,657 shares of the financial services provider’s stock worth $4,513,000 after buying an additional 3,348 shares during the last quarter. Flossbach Von Storch SE increased its holdings in shares of Charles Schwab by 0.7% during the 1st quarter. Flossbach Von Storch SE now owns 10,810,644 shares of the financial services provider’s stock worth $846,257,000 after buying an additional 76,568 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of Charles Schwab by 5.9% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 419,318 shares of the financial services provider’s stock worth $32,360,000 after buying an additional 23,212 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Charles Schwab Stock Performance

NYSE:SCHW opened at $92.00 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.53 and a quick ratio of 0.53. The firm has a 50-day moving average of $87.91 and a two-hundred day moving average of $81.08. The stock has a market cap of $167.16 billion, a P/E ratio of 27.88, a PEG ratio of 0.99 and a beta of 0.93. The Charles Schwab Corporation has a 1-year low of $61.01 and a 1-year high of $92.80.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03. The company had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.46 billion. Charles Schwab had a net margin of 31.71% and a return on equity of 18.31%. During the same period in the prior year, the company posted $0.74 EPS. On average, research analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were given a $0.27 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.08 dividend on an annualized basis and a yield of 1.17%. Charles Schwab’s payout ratio is currently 32.73%.

Insider Buying and Selling

In other Charles Schwab news, insider Nigel J. Murtagh sold 20,872 shares of the company’s stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $90.01, for a total value of $1,878,688.72. Following the completion of the transaction, the insider directly owned 58,999 shares of the company’s stock, valued at $5,310,499.99. This represents a 26.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Paula A. Sneed sold 8,647 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $88.06, for a total transaction of $761,454.82. Following the transaction, the director directly owned 105,654 shares in the company, valued at $9,303,891.24. The trade was a 7.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 119,905 shares of company stock worth $10,530,833 over the last quarter. Company insiders own 6.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SCHW. Truist Financial upped their price objective on Charles Schwab from $97.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, June 16th. William Blair downgraded Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 3rd. JMP Securities restated a “market outperform” rating and set a $94.00 price objective on shares of Charles Schwab in a report on Monday, April 21st. Redburn Atlantic upgraded Charles Schwab from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $65.00 to $82.00 in a report on Monday, June 9th. Finally, Keefe, Bruyette & Woods upped their price objective on Charles Schwab from $90.00 to $93.00 and gave the stock an “outperform” rating in a report on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $89.55.

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.