Illinois Municipal Retirement Fund Sells 8,142 Shares of The Charles Schwab Co. (NYSE:SCHW)

Illinois Municipal Retirement Fund lowered its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 24.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,818 shares of the financial services provider’s stock after selling 8,142 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Charles Schwab were worth $1,911,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in SCHW. Principal Securities Inc. boosted its position in Charles Schwab by 4.7% during the third quarter. Principal Securities Inc. now owns 128,180 shares of the financial services provider’s stock valued at $8,307,000 after purchasing an additional 5,798 shares in the last quarter. Lebenthal Global Advisors LLC boosted its position in Charles Schwab by 6.2% during the third quarter. Lebenthal Global Advisors LLC now owns 16,603 shares of the financial services provider’s stock valued at $1,076,000 after purchasing an additional 964 shares in the last quarter. Farther Finance Advisors LLC boosted its position in Charles Schwab by 2.8% during the third quarter. Farther Finance Advisors LLC now owns 27,350 shares of the financial services provider’s stock valued at $1,773,000 after purchasing an additional 751 shares in the last quarter. VELA Investment Management LLC boosted its position in Charles Schwab by 1.3% during the third quarter. VELA Investment Management LLC now owns 23,657 shares of the financial services provider’s stock valued at $1,533,000 after purchasing an additional 313 shares in the last quarter. Finally, Biechele Royce Advisors boosted its holdings in Charles Schwab by 10.0% in the third quarter. Biechele Royce Advisors now owns 210,531 shares of the financial services provider’s stock worth $13,644,000 after acquiring an additional 19,061 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SCHW. Truist Financial raised their price target on Charles Schwab from $90.00 to $91.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Wells Fargo & Company raised Charles Schwab from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $89.00 to $93.00 in a report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft raised their price target on Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Keefe, Bruyette & Woods raised their price target on Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. Finally, JPMorgan Chase & Co. raised their price target on Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $86.33.

Insider Activity at Charles Schwab

In other news, General Counsel Peter J. Morgan III sold 14,643 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total value of $1,181,690.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Walter W. Bettinger sold 464,629 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total value of $38,057,761.39. Following the completion of the sale, the chairman now owns 827,377 shares of the company’s stock, valued at $67,770,450.07. This trade represents a 35.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 487,820 shares of company stock worth $39,938,849. 6.60% of the stock is owned by corporate insiders.

Charles Schwab Stock Up 1.6 %

Shares of SCHW stock opened at $79.71 on Friday. The stock has a 50 day moving average of $78.37 and a 200 day moving average of $73.54. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The stock has a market cap of $141.99 billion, a P/E ratio of 26.66, a P/E/G ratio of 0.99 and a beta of 0.99. The Charles Schwab Co. has a twelve month low of $61.01 and a twelve month high of $84.50.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.11. The company had revenue of $5.33 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. Charles Schwab’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period last year, the business earned $0.68 earnings per share. As a group, sell-side analysts expect that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a dividend of $0.27 per share. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 1.35%. The ex-dividend date was Friday, February 14th. Charles Schwab’s dividend payout ratio (DPR) is currently 36.12%.

Charles Schwab Profile

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.