Treasurer of the State of North Carolina Grows Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Treasurer of the State of North Carolina boosted its holdings in The Charles Schwab Co. (NYSE:SCHW) by 0.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 674,166 shares of the financial services provider’s stock after acquiring an additional 4,880 shares during the period. Treasurer of the State of North Carolina’s holdings in Charles Schwab were worth $49,895,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Murphy & Mullick Capital Management Corp purchased a new position in Charles Schwab in the fourth quarter valued at about $38,000. Atala Financial Inc acquired a new position in shares of Charles Schwab in the 4th quarter worth approximately $41,000. Knuff & Co LLC boosted its holdings in shares of Charles Schwab by 1,309.3% in the 4th quarter. Knuff & Co LLC now owns 606 shares of the financial services provider’s stock valued at $45,000 after buying an additional 563 shares during the period. Financial Life Planners bought a new position in shares of Charles Schwab during the fourth quarter valued at approximately $46,000. Finally, Whipplewood Advisors LLC acquired a new stake in Charles Schwab in the fourth quarter worth $46,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Paul V. Woolway sold 3,380 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $79.32, for a total value of $268,101.60. Following the completion of the sale, the insider now owns 57,818 shares in the company, valued at approximately $4,586,123.76. The trade was a 5.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Walter W. Bettinger sold 464,629 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the transaction, the chairman now owns 827,377 shares in the company, valued at approximately $67,770,450.07. This represents a 35.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 513,081 shares of company stock worth $41,903,066 in the last three months. Insiders own 6.60% of the company’s stock.

Charles Schwab Trading Up 7.9 %

NYSE SCHW opened at $75.48 on Thursday. The Charles Schwab Co. has a one year low of $61.01 and a one year high of $84.50. The stock has a market capitalization of $136.90 billion, a P/E ratio of 25.25, a P/E/G ratio of 0.99 and a beta of 0.91. The business has a 50 day simple moving average of $78.05 and a 200 day simple moving average of $75.99. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. The business had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. Charles Schwab’s revenue was up 19.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.68 EPS. Research analysts expect that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a $0.27 dividend. The ex-dividend date of this dividend was Friday, February 14th. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.43%. Charles Schwab’s dividend payout ratio is currently 36.12%.

Analyst Ratings Changes

A number of brokerages have recently commented on SCHW. Wells Fargo & Company lowered their price target on Charles Schwab from $93.00 to $87.00 and set an “overweight” rating on the stock in a report on Tuesday. Citigroup upgraded shares of Charles Schwab from a “neutral” rating to a “buy” rating and boosted their price target for the company from $85.00 to $102.00 in a report on Wednesday, April 2nd. UBS Group upped their price objective on shares of Charles Schwab from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Piper Sandler decreased their price objective on shares of Charles Schwab from $78.00 to $74.00 and set a “neutral” rating for the company in a report on Tuesday. Finally, Barclays decreased their target price on Charles Schwab from $96.00 to $84.00 and set an “overweight” rating for the company in a research note on Monday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $85.33.

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.