Public Employees Retirement System of Ohio Has $62.73 Million Position in The Charles Schwab Corporation $SCHW

Public Employees Retirement System of Ohio lowered its stake in The Charles Schwab Corporation (NYSE:SCHW) by 2.0% in the first quarter, HoldingsChannel.com reports. The firm owned 667,534 shares of the financial services provider’s stock after selling 13,753 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Charles Schwab were worth $62,735,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC boosted its position in Charles Schwab by 380.5% in the 4th quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock valued at $1,794,000 after buying an additional 19,195 shares during the last quarter. Sivia Capital Partners LLC raised its position in shares of Charles Schwab by 21.6% during the second quarter. Sivia Capital Partners LLC now owns 4,553 shares of the financial services provider’s stock worth $415,000 after acquiring an additional 809 shares during the last quarter. United Bank raised its position in shares of Charles Schwab by 7.1% during the second quarter. United Bank now owns 16,053 shares of the financial services provider’s stock worth $1,465,000 after acquiring an additional 1,070 shares during the last quarter. Nebula Research & Development LLC acquired a new position in shares of Charles Schwab during the second quarter valued at $552,000. Finally, Main Street Financial Solutions LLC lifted its stake in shares of Charles Schwab by 4.7% during the second quarter. Main Street Financial Solutions LLC now owns 6,828 shares of the financial services provider’s stock valued at $623,000 after acquiring an additional 305 shares during the period. Institutional investors own 84.38% of the company’s stock.

Key Charles Schwab News

Here are the key news stories impacting Charles Schwab this week:

• Positive Sentiment: Schwab beat Q2 estimates, with record daily average revenue trades, a 20%+ revenue increase, and management raising full-year guidance, signaling strong operating momentum. Schwab Beats 2Q Estimates as Retail Traders Pile Into Market
• Positive Sentiment: Analysts turned more bullish, with Argus lifting its price target to $114 and Barclays raising its target to $125, both with positive ratings. Analyst price target increases
• Positive Sentiment: Schwab was added to Zacks’ Rank #1 “Strong Buy” income stocks list, which can support investor sentiment around the name. Best Income Stocks to Buy for July 23rd
• Neutral Sentiment: Schwab declared its regular quarterly common stock dividend and preferred dividends, reinforcing its shareholder-return profile but not changing the core growth story. Schwab Declares Quarterly Common Stock Dividend and Declares Preferred Stock Dividends
• Negative Sentiment: Some coverage noted that SCHW shares fell despite the earnings surge, suggesting traders may be taking profits after the run-up or focusing on valuation near recent highs. Interactive Brokers, Charles Schwab Slide Despite Earnings Surge

Insider Buying and Selling

In related news, Director Frank C. Herringer sold 2,520 shares of the firm’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $90.60, for a total transaction of $228,312.00. Following the sale, the director directly owned 177,508 shares in the company, valued at $16,082,224.80. This trade represents a 1.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jonathan S. Beatty sold 2,000 shares of the business’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $100.01, for a total transaction of $200,020.00. Following the completion of the sale, the insider directly owned 13,738 shares in the company, valued at $1,373,937.38. This represents a 12.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 6,520 shares of company stock worth $622,392. Insiders own 6.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Truist Financial lowered their price objective on Charles Schwab from $122.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, April 1st. Jefferies Financial Group cut their target price on shares of Charles Schwab from $122.00 to $118.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. JPMorgan Chase & Co. raised their target price on shares of Charles Schwab from $128.00 to $131.00 and gave the company an “overweight” rating in a research note on Friday, April 17th. Barclays lifted their price target on shares of Charles Schwab from $122.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Citigroup reissued a “market outperform” rating on shares of Charles Schwab in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Charles Schwab has an average rating of “Moderate Buy” and an average price target of $119.76.

Charles Schwab Stock Up 0.8%

Shares of Charles Schwab stock opened at $101.62 on Friday. The company has a market capitalization of $176.73 billion, a P/E ratio of 18.48, a price-to-earnings-growth ratio of 0.83 and a beta of 0.77. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.62 and a quick ratio of 0.62. The business has a 50-day moving average of $93.71 and a two-hundred day moving average of $95.35. The Charles Schwab Corporation has a 1 year low of $83.96 and a 1 year high of $107.50.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.06. Charles Schwab had a return on equity of 24.73% and a net margin of 38.79%.The business had revenue of $7.07 billion for the quarter, compared to analysts’ expectations of $6.90 billion. During the same quarter in the previous year, the business posted $1.14 EPS. Charles Schwab’s revenue for the quarter was up 20.9% on a year-over-year basis. As a group, equities analysts predict that The Charles Schwab Corporation will post 6.34 EPS for the current year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, August 14th. Charles Schwab’s dividend payout ratio (DPR) is 25.40%.

Charles Schwab Company Profile

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.