State of New Jersey Common Pension Fund D Has $36.07 Million Holdings in The Charles Schwab Co. (NYSE:SCHW)

State of New Jersey Common Pension Fund D boosted its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 0.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 556,502 shares of the financial services provider’s stock after purchasing an additional 236 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Charles Schwab were worth $36,067,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Charles Schwab by 0.9% during the first quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider’s stock worth $8,750,473,000 after buying an additional 1,042,823 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Charles Schwab by 4.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock valued at $5,230,657,000 after purchasing an additional 2,946,327 shares during the period. Legal & General Group Plc increased its position in shares of Charles Schwab by 2.1% during the second quarter. Legal & General Group Plc now owns 10,886,058 shares of the financial services provider’s stock valued at $802,193,000 after purchasing an additional 225,397 shares during the period. Allen Investment Management LLC lifted its position in Charles Schwab by 3.0% in the second quarter. Allen Investment Management LLC now owns 8,712,364 shares of the financial services provider’s stock worth $642,014,000 after purchasing an additional 251,485 shares during the period. Finally, Lazard Asset Management LLC boosted its stake in Charles Schwab by 8.9% during the first quarter. Lazard Asset Management LLC now owns 7,305,050 shares of the financial services provider’s stock worth $528,445,000 after buying an additional 596,589 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on SCHW shares. JPMorgan Chase & Co. increased their price objective on shares of Charles Schwab from $86.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Bank of America decreased their price objective on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a report on Wednesday, October 16th. Cowen increased their target price on Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. TD Cowen restated a “hold” rating and set a $71.00 target price (down previously from $88.00) on shares of Charles Schwab in a research report on Wednesday, July 17th. Finally, Morgan Stanley upped their price target on Charles Schwab from $68.00 to $74.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $73.94.

Insiders Place Their Bets

In other news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the firm’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $72.16, for a total value of $2,150,368.00. Following the transaction, the director now directly owns 551,329 shares in the company, valued at $39,783,900.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the business’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $72.16, for a total transaction of $2,150,368.00. Following the completion of the transaction, the director now owns 551,329 shares in the company, valued at approximately $39,783,900.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Charles R. Schwab sold 62,345 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the completion of the sale, the chairman now owns 60,619,371 shares in the company, valued at approximately $4,396,116,784.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,465 shares of company stock valued at $8,050,109. Company insiders own 6.60% of the company’s stock.

Charles Schwab Trading Up 1.3 %

SCHW traded up $0.98 during mid-day trading on Friday, reaching $73.90. The stock had a trading volume of 8,728,207 shares, compared to its average volume of 8,154,551. The firm’s fifty day simple moving average is $67.24 and its two-hundred day simple moving average is $69.48. The stock has a market capitalization of $131.43 billion, a P/E ratio of 28.87, a P/E/G ratio of 1.69 and a beta of 0.96. The Charles Schwab Co. has a 52 week low of $53.49 and a 52 week high of $79.49. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. Charles Schwab had a return on equity of 17.52% and a net margin of 27.47%. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period last year, the company earned $0.77 earnings per share. The company’s revenue was up 5.2% on a year-over-year basis. On average, equities analysts predict that The Charles Schwab Co. will post 3.11 EPS for the current year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be paid a $0.25 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.35%. Charles Schwab’s payout ratio is presently 39.06%.

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.