California State Teachers Retirement System Sells 107,627 Shares of The Charles Schwab Corporation $SCHW

California State Teachers Retirement System reduced its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 4.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,598,908 shares of the financial services provider’s stock after selling 107,627 shares during the quarter. California State Teachers Retirement System’s holdings in Charles Schwab were worth $244,245,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Regal Partners Ltd bought a new position in shares of Charles Schwab in the 1st quarter worth $33,412,000. Empowered Funds LLC increased its stake in Charles Schwab by 145.2% during the 1st quarter. Empowered Funds LLC now owns 205,719 shares of the financial services provider’s stock valued at $19,333,000 after purchasing an additional 121,837 shares in the last quarter. Quantinno Capital Management LP raised its holdings in Charles Schwab by 21.9% during the first quarter. Quantinno Capital Management LP now owns 991,262 shares of the financial services provider’s stock worth $93,159,000 after buying an additional 178,161 shares during the last quarter. SummitTX Capital L.P. acquired a new position in Charles Schwab during the first quarter worth $2,523,000. Finally, Lazard Asset Management LLC lifted its stake in shares of Charles Schwab by 9.5% in the first quarter. Lazard Asset Management LLC now owns 2,863,815 shares of the financial services provider’s stock valued at $269,141,000 after buying an additional 248,789 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on SCHW. Wolfe Research reissued an “outperform” rating and set a $127.00 target price on shares of Charles Schwab in a research report on Tuesday, July 21st. Citigroup reaffirmed a “market outperform” rating on shares of Charles Schwab in a research report on Wednesday, July 22nd. Morgan Stanley boosted their price objective on Charles Schwab from $133.00 to $136.00 and gave the stock an “overweight” rating in a report on Monday. Piper Sandler set a $118.00 price objective on Charles Schwab in a research note on Tuesday, July 21st. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Charles Schwab in a report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Charles Schwab presently has an average rating of “Moderate Buy” and an average target price of $119.94.

Insider Buying and Selling at Charles Schwab

In related news, insider Jonathan S. Beatty sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $104.21, for a total value of $208,420.00. Following the completion of the sale, the insider owned 11,738 shares in the company, valued at $1,223,216.98. The trade was a 14.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Peter J. Morgan III sold 6,952 shares of the business’s stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $102.03, for a total transaction of $709,312.56. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 17,005 shares of company stock worth $1,733,892 over the last three months. 6.30% of the stock is owned by insiders.

Charles Schwab Stock Up 1.9%

SCHW opened at $106.17 on Wednesday. The Charles Schwab Corporation has a twelve month low of $83.96 and a twelve month high of $107.50. The company’s 50-day moving average price is $94.46 and its two-hundred day moving average price is $95.37. The stock has a market cap of $184.65 billion, a price-to-earnings ratio of 19.30, a PEG ratio of 0.84 and a beta of 0.77. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.48.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.06. Charles Schwab had a net margin of 38.79% and a return on equity of 24.73%. The company 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 firm posted $1.14 EPS. Charles Schwab’s revenue was up 20.9% on a year-over-year basis. As a group, equities analysts expect that The Charles Schwab Corporation will post 6.45 earnings per share for the current year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, August 14th. Charles Schwab’s dividend payout ratio (DPR) is currently 23.27%.

Key Stories Impacting Charles Schwab

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

• Positive Sentiment: Planned $20 billion share repurchase: Charles Schwab reportedly plans to buy back $20 billion of its stock, a substantial capital-allocation commitment that could reduce shares outstanding, support earnings per share and signal management’s confidence in the company’s valuation and cash-generation outlook. Charles Schwab to buy back $20 billion of stock
• Positive Sentiment: Analysts continue to favor SCHW as a growth stock: Charles Schwab was included among analysts’ preferred growth names, reflecting confidence in demand trends and longer-term catalysts. The view is consistent with the company’s latest quarterly performance, which included earnings and revenue above consensus and 20.9% year-over-year revenue growth. Best Growth Stocks to Buy This Week
• Positive Sentiment: Retail investor sentiment is improving: Schwab executive James Kostulias said bullishness among retail traders is rising. Greater investor participation and trading activity could support Schwab’s brokerage-related revenue and asset-gathering trends. Charles Schwab executive discusses rising retail bullishness
• Positive Sentiment: Potential cryptocurrency-regulation tailwind: Schwab reportedly backed the CLARITY Act ahead of an August deadline. Clearer digital-asset rules could help established financial firms expand crypto-related products and services, although the legislation remains subject to the legislative process. Charles Schwab backs the CLARITY Act
• Neutral Sentiment: Commentary highlighting “three big reasons” to favor SCHW and a report on billionaire investor Andreas Halvorsen’s holdings add to positive market attention, but these opinions are not new company fundamentals or formal analyst actions. Three big reasons to favor Charles Schwab Andreas Halvorsen’s top picks
• Negative Sentiment: Several insiders sold shares, including General Counsel Peter J. Morgan III and executives Jonathan S. Beatty and Nigel J. Murtagh. The transactions were made under pre-arranged Rule 10b5-1 plans, reducing their significance as a bearish signal, but they may still create limited investor caution.

Charles Schwab 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.