Retirement Systems of Alabama Trims Position in The Charles Schwab Corporation (SCHW)

Retirement Systems of Alabama reduced its position in The Charles Schwab Corporation (NYSE:SCHW) by 2.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 578,213 shares of the financial services provider’s stock after selling 11,755 shares during the quarter. Retirement Systems of Alabama’s holdings in The Charles Schwab Corporation were worth $25,291,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of SCHW. Vanguard Group Inc. raised its stake in The Charles Schwab Corporation by 3.2% during the second quarter. Vanguard Group Inc. now owns 81,925,586 shares of the financial services provider’s stock worth $3,519,523,000 after acquiring an additional 2,536,947 shares in the last quarter. BlackRock Inc. raised its stake in The Charles Schwab Corporation by 2.5% during the second quarter. BlackRock Inc. now owns 73,666,134 shares of the financial services provider’s stock worth $3,164,699,000 after acquiring an additional 1,790,015 shares in the last quarter. JPMorgan Chase & Co. raised its stake in The Charles Schwab Corporation by 1.3% during the second quarter. JPMorgan Chase & Co. now owns 39,576,199 shares of the financial services provider’s stock worth $1,700,193,000 after acquiring an additional 491,451 shares in the last quarter. FMR LLC raised its stake in The Charles Schwab Corporation by 11.3% during the second quarter. FMR LLC now owns 30,766,004 shares of the financial services provider’s stock worth $1,321,708,000 after acquiring an additional 3,128,532 shares in the last quarter. Finally, Capital Research Global Investors raised its stake in The Charles Schwab Corporation by 86.3% during the second quarter. Capital Research Global Investors now owns 24,237,199 shares of the financial services provider’s stock worth $1,041,230,000 after acquiring an additional 11,224,199 shares in the last quarter. 79.41% of the stock is owned by hedge funds and other institutional investors.

In other The Charles Schwab Corporation news, Chairman Charles R. Schwab sold 200,000 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $44.29, for a total transaction of $8,858,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Terri R. Kallsen sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $38.99, for a total value of $38,990.00. Following the transaction, the executive vice president now owns 5,212 shares in the company, valued at approximately $203,215.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 573,095 shares of company stock worth $25,552,240. 12.00% of the stock is owned by company insiders.

Several research analysts have issued reports on the company. Barclays PLC increased their price objective on The Charles Schwab Corporation from $48.00 to $51.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 10th. BidaskClub upgraded The Charles Schwab Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 10th. Deutsche Bank AG increased their price objective on The Charles Schwab Corporation from $46.00 to $47.00 and gave the stock a “hold” rating in a research note on Wednesday, October 25th. Morgan Stanley increased their price objective on The Charles Schwab Corporation from $51.00 to $53.00 and gave the stock an “overweight” rating in a research note on Thursday, October 5th. Finally, Instinet reiterated a “neutral” rating and set a $43.00 price objective (down from $46.00) on shares of The Charles Schwab Corporation in a research note on Monday, July 24th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The Charles Schwab Corporation currently has an average rating of “Buy” and a consensus target price of $47.07.

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The Charles Schwab Corporation (SCHW) opened at $44.45 on Tuesday. The stock has a market capitalization of $59,347.30, a PE ratio of 28.38, a P/E/G ratio of 1.88 and a beta of 1.74. The Charles Schwab Corporation has a 1-year low of $36.04 and a 1-year high of $46.21. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.21.

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

The company also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Friday, November 10th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend is Thursday, November 9th. The Charles Schwab Corporation’s dividend payout ratio is 20.51%.

The Charles Schwab Corporation 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.

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

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