The Charles Schwab Corporation (SCHW) Stake Decreased by California State Teachers Retirement System

California State Teachers Retirement System lessened its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 8.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,007,542 shares of the financial services provider’s stock after selling 196,403 shares during the period. California State Teachers Retirement System owned approximately 0.15% of The Charles Schwab worth $87,810,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently modified their holdings of SCHW. American Century Companies Inc. lifted its stake in The Charles Schwab by 19.4% in the 2nd quarter. American Century Companies Inc. now owns 4,139,650 shares of the financial services provider’s stock valued at $177,839,000 after purchasing an additional 673,011 shares during the last quarter. Principal Financial Group Inc. increased its position in The Charles Schwab by 17.3% in the 2nd quarter. Principal Financial Group Inc. now owns 3,100,144 shares of the financial services provider’s stock valued at $133,182,000 after acquiring an additional 457,591 shares during the period. Cubist Systematic Strategies LLC increased its position in The Charles Schwab by 317.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 51,701 shares of the financial services provider’s stock valued at $2,221,000 after acquiring an additional 39,321 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its position in The Charles Schwab by 1.6% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,417,577 shares of the financial services provider’s stock valued at $103,859,000 after acquiring an additional 38,306 shares during the period. Finally, CIBC World Markets Inc. acquired a new position in The Charles Schwab in the 2nd quarter valued at approximately $282,000. 79.84% of the stock is owned by institutional investors.

The Charles Schwab Corporation (NYSE:SCHW) traded up $0.84 during trading hours on Wednesday, reaching $51.56. 7,251,100 shares of the company’s stock were exchanged, compared to its average volume of 7,072,047. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.31 and a quick ratio of 0.30. The firm has a market capitalization of $67,994.02, a PE ratio of 32.51, a price-to-earnings-growth ratio of 2.16 and a beta of 1.74. The Charles Schwab Corporation has a 1-year low of $37.16 and a 1-year high of $51.98.

The Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01. The business had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.18 billion. The Charles Schwab had a net margin of 27.30% and a return on equity of 15.77%. The business’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period last year, the company posted $0.35 earnings per share. research analysts forecast that The Charles Schwab Corporation will post 1.62 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, November 24th. Shareholders of record on Friday, November 10th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date was Thursday, November 9th. The Charles Schwab’s payout ratio is 20.51%.

Several equities analysts have issued reports on SCHW shares. BidaskClub cut shares of The Charles Schwab from a “sell” rating to a “strong sell” rating in a research report on Friday, September 8th. Morgan Stanley upped their price target on shares of The Charles Schwab from $51.00 to $53.00 and gave the company an “overweight” rating in a research report on Thursday, October 5th. Barclays increased their price objective on shares of The Charles Schwab from $48.00 to $51.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 10th. Deutsche Bank increased their price objective on shares of The Charles Schwab from $46.00 to $47.00 and gave the stock a “hold” rating in a research report on Wednesday, October 25th. Finally, Credit Suisse Group began coverage on shares of The Charles Schwab in a research report on Thursday, November 30th. They set an “outperform” rating and a $55.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $47.56.

In related news, insider Walter W. Bettinger purchased 72,510 shares of The Charles Schwab stock in a transaction on Tuesday, November 7th. The stock was acquired at an average cost of $27.21 per share, for a total transaction of $1,972,997.10. Following the completion of the acquisition, the insider now owns 41,330 shares of the company’s stock, valued at approximately $1,124,589.30. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Peter B. Crawford sold 12,459 shares of the firm’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $51.58, for a total transaction of $642,635.22. Following the completion of the sale, the chief financial officer now owns 7,652 shares of the company’s stock, valued at $394,690.16. The disclosure for this sale can be found here. Insiders sold 1,778,324 shares of company stock valued at $82,710,964 over the last 90 days. Corporate insiders own 12.00% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “The Charles Schwab Corporation (SCHW) Stake Decreased by California State Teachers Retirement System” was published by Week Herald and is owned by of Week Herald. If you are accessing this piece on another domain, it was stolen and republished in violation of US & international copyright & trademark laws. The original version of this piece can be read at https://weekherald.com/2017/12/13/the-charles-schwab-corporation-schw-stake-decreased-by-california-state-teachers-retirement-system.html.

The Charles Schwab Company Profile

The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.

Institutional Ownership by Quarter for The Charles Schwab (NYSE:SCHW)

Receive News & Ratings for The Charles Schwab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Charles Schwab and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply