Illinois Municipal Retirement Fund Buys 8,895 Shares of The Charles Schwab Corporation $SCHW

Illinois Municipal Retirement Fund raised its stake in The Charles Schwab Corporation (NYSE:SCHW) by 34.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,713 shares of the financial services provider’s stock after acquiring an additional 8,895 shares during the period. Illinois Municipal Retirement Fund’s holdings in Charles Schwab were worth $3,167,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of SCHW. Princeton Global Asset Management LLC bought a new stake in shares of Charles Schwab during the 2nd quarter worth approximately $25,000. RMG Wealth Management LLC acquired a new position in shares of Charles Schwab in the second quarter worth approximately $27,000. CBIZ Investment Advisory Services LLC boosted its stake in shares of Charles Schwab by 97.9% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 191 shares during the last quarter. Stone House Investment Management LLC acquired a new position in Charles Schwab in the first quarter valued at $31,000. Finally, Activest Wealth Management grew its holdings in Charles Schwab by 6,650.0% during the 1st quarter. Activest Wealth Management now owns 405 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 399 shares during the period. 84.38% of the stock is currently owned by institutional investors.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $97.71 on Thursday. The company has a market capitalization of $173.63 billion, a PE ratio of 22.88, a PEG ratio of 0.85 and a beta of 1.02. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The stock’s 50 day moving average price is $94.06 and its 200-day moving average price is $92.23. The Charles Schwab Corporation has a twelve month low of $65.88 and a twelve month high of $99.59.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.06. The company had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $5.93 billion. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.Charles Schwab’s revenue was up 26.6% on a year-over-year basis. During the same period last year, the business posted $0.71 earnings per share. On average, equities analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab declared that its Board of Directors has authorized a stock repurchase plan on Thursday, July 24th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 11.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, November 14th. Charles Schwab’s payout ratio is presently 25.29%.

Insider Buying and Selling

In other Charles Schwab news, insider Jonathan S. Beatty sold 6,144 shares of the business’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $96.81, for a total value of $594,800.64. Following the transaction, the insider directly owned 11,923 shares in the company, valued at $1,154,265.63. The trade was a 34.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul V. Woolway sold 3,205 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total transaction of $299,122.65. Following the sale, the insider owned 34,778 shares of the company’s stock, valued at approximately $3,245,830.74. The trade was a 8.44% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 65,866 shares of company stock valued at $6,370,897. 6.30% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SCHW shares. Raymond James Financial reiterated an “outperform” rating and issued a $99.00 target price on shares of Charles Schwab in a report on Friday, July 18th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $114.00 target price on shares of Charles Schwab in a research report on Friday, October 17th. Citigroup increased their target price on Charles Schwab from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, July 21st. Keefe, Bruyette & Woods raised their price objective on shares of Charles Schwab from $109.00 to $111.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Finally, Barclays lifted their price target on Charles Schwab from $114.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $106.45.

Charles Schwab Company 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.