The Charles Schwab Co. (NYSE:SCHW) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System cut its stake in The Charles Schwab Co. (NYSE:SCHW) by 3.8% during the 4th quarter, HoldingsChannel reports. The fund owned 2,690,088 shares of the financial services provider’s stock after selling 105,216 shares during the period. California Public Employees Retirement System’s holdings in Charles Schwab were worth $185,078,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its position in shares of Charles Schwab by 49.0% during the third quarter. International Assets Investment Management LLC now owns 10,382 shares of the financial services provider’s stock worth $565,000 after acquiring an additional 3,412 shares during the last quarter. Ritholtz Wealth Management grew its position in shares of Charles Schwab by 81.9% during the third quarter. Ritholtz Wealth Management now owns 13,596 shares of the financial services provider’s stock worth $746,000 after acquiring an additional 6,121 shares during the last quarter. Capital Investment Advisors LLC grew its position in Charles Schwab by 5.1% in the 3rd quarter. Capital Investment Advisors LLC now owns 5,239 shares of the financial services provider’s stock valued at $288,000 after buying an additional 256 shares in the last quarter. Kozak & Associates Inc. grew its position in Charles Schwab by 44.0% in the 3rd quarter. Kozak & Associates Inc. now owns 99,879 shares of the financial services provider’s stock valued at $5,146,000 after buying an additional 30,501 shares in the last quarter. Finally, Leonard Rickey Investment Advisors P.L.L.C. grew its position in Charles Schwab by 14.9% in the 3rd quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 5,451 shares of the financial services provider’s stock valued at $299,000 after buying an additional 708 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Charles Schwab

In other news, General Counsel Peter J. Morgan III sold 24,520 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $72.23, for a total value of $1,771,079.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, General Counsel Peter J. Morgan III sold 24,520 shares of the stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $72.23, for a total value of $1,771,079.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Peter B. Crawford sold 8,000 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $64.76, for a total value of $518,080.00. Following the completion of the transaction, the chief financial officer now owns 29,611 shares in the company, valued at approximately $1,917,608.36. The disclosure for this sale can be found here. Insiders sold 316,282 shares of company stock valued at $21,373,311 over the last three months. 6.60% of the stock is owned by corporate insiders.

Charles Schwab Stock Up 0.4 %

Shares of NYSE SCHW traded up $0.29 during mid-day trading on Tuesday, reaching $74.55. The company had a trading volume of 1,624,380 shares, compared to its average volume of 7,697,167. The stock has a fifty day moving average of $68.77 and a two-hundred day moving average of $63.35. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market capitalization of $132.41 billion, a price-to-earnings ratio of 31.07, a PEG ratio of 1.07 and a beta of 1.01. The Charles Schwab Co. has a 12-month low of $45.65 and a 12-month high of $74.98.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date was Thursday, February 8th. Charles Schwab’s dividend payout ratio (DPR) is 41.84%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. The Goldman Sachs Group reiterated a “neutral” rating and issued a $71.00 target price (up previously from $70.00) on shares of Charles Schwab in a research report on Wednesday, January 3rd. Keefe, Bruyette & Woods increased their target price on shares of Charles Schwab from $75.00 to $76.00 and gave the company a “market perform” rating in a research report on Tuesday, April 16th. JMP Securities reiterated a “market outperform” rating and issued a $80.00 target price on shares of Charles Schwab in a research report on Tuesday, April 16th. JPMorgan Chase & Co. increased their target price on shares of Charles Schwab from $86.00 to $89.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Finally, Bank of America upped their price target on shares of Charles Schwab from $68.00 to $70.00 and gave the company an “underperform” rating in a report on Tuesday, April 16th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $74.47.

About Charles Schwab

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.