Great Lakes Retirement Inc. Has $9.11 Million Holdings in The Charles Schwab Co. (NYSE:SCHW)

Great Lakes Retirement Inc. raised its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 10.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 132,431 shares of the financial services provider’s stock after buying an additional 12,518 shares during the quarter. Charles Schwab comprises 1.5% of Great Lakes Retirement Inc.’s investment portfolio, making the stock its 17th largest holding. Great Lakes Retirement Inc.’s holdings in Charles Schwab were worth $9,111,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. State Street Corp lifted its holdings in shares of Charles Schwab by 0.7% during the second quarter. State Street Corp now owns 60,391,016 shares of the financial services provider’s stock worth $3,422,963,000 after buying an additional 398,367 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Charles Schwab by 26.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 29,775,952 shares of the financial services provider’s stock valued at $1,634,700,000 after purchasing an additional 6,195,934 shares during the period. Geode Capital Management LLC increased its position in shares of Charles Schwab by 1.5% during the first quarter. Geode Capital Management LLC now owns 27,050,168 shares of the financial services provider’s stock valued at $1,413,244,000 after purchasing an additional 391,238 shares during the period. Morgan Stanley increased its position in shares of Charles Schwab by 62.5% during the fourth quarter. Morgan Stanley now owns 22,255,649 shares of the financial services provider’s stock valued at $1,853,005,000 after purchasing an additional 8,563,389 shares during the period. Finally, Norges Bank bought a new stake in shares of Charles Schwab during the fourth quarter valued at approximately $1,325,555,000. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Peter B. Crawford sold 4,000 shares of the business’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $64.49, for a total transaction of $257,960.00. Following the sale, the chief financial officer now owns 37,611 shares in the company, valued at approximately $2,425,533.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Charles Schwab news, insider Nigel J. Murtagh sold 29,991 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $67.80, for a total value of $2,033,389.80. Following the sale, the insider now owns 81,446 shares in the company, valued at approximately $5,522,038.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Peter B. Crawford sold 4,000 shares of the business’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $64.49, for a total value of $257,960.00. Following the completion of the transaction, the chief financial officer now directly owns 37,611 shares in the company, valued at $2,425,533.39. The disclosure for this sale can be found here. Insiders have sold 216,584 shares of company stock worth $14,200,769 in the last 90 days. Insiders own 6.60% of the company’s stock.

Charles Schwab Price Performance

NYSE SCHW traded up $1.41 during midday trading on Wednesday, hitting $72.41. The company had a trading volume of 7,356,362 shares, compared to its average volume of 7,839,497. The company has a market capitalization of $128.42 billion, a PE ratio of 28.32, a P/E/G ratio of 1.37 and a beta of 1.00. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.82. The firm has a 50-day moving average price of $65.43 and a 200-day moving average price of $61.18. The Charles Schwab Co. has a twelve month low of $45.65 and a twelve month high of $72.94.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.04. The firm had revenue of $4.46 billion during the quarter, compared to analysts’ expectations of $4.49 billion. Charles Schwab had a return on equity of 21.33% and a net margin of 26.90%. The company’s quarterly revenue was down 18.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.07 EPS. As a group, analysts anticipate that The Charles Schwab Co. will post 3.33 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.38%. Charles Schwab’s dividend payout ratio is currently 39.37%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Raymond James lowered their price target on Charles Schwab from $78.00 to $75.00 and set an “outperform” rating on the stock in a research report on Thursday, January 18th. Redburn Atlantic started coverage on Charles Schwab in a research report on Friday, December 1st. They issued a “sell” rating and a $52.00 price target on the stock. UBS Group increased their target price on Charles Schwab from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 15th. JMP Securities restated a “market outperform” rating and set a $77.00 target price on shares of Charles Schwab in a report on Thursday, January 18th. Finally, Citigroup lowered Charles Schwab from a “buy” rating to a “neutral” rating and cut their price target for the company from $75.00 to $70.00 in a research note on Wednesday, January 10th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $71.12.

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.