Strs Ohio Sells 625,892 Shares of Charles Schwab Co. (SCHW)

Strs Ohio cut its holdings in shares of Charles Schwab Co. (NYSE:SCHW) by 45.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 747,104 shares of the financial services provider’s stock after selling 625,892 shares during the period. Strs Ohio owned about 0.06% of Charles Schwab worth $31,946,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of SCHW. Lathrop Investment Management Corp purchased a new stake in shares of Charles Schwab during the first quarter worth approximately $7,434,000. Sage Rhino Capital LLC purchased a new position in Charles Schwab in the first quarter valued at approximately $423,000. Eastern Bank increased its stake in Charles Schwab by 13.6% in the first quarter. Eastern Bank now owns 302,839 shares of the financial services provider’s stock valued at $12,949,000 after purchasing an additional 36,343 shares during the last quarter. Cozad Asset Management Inc. increased its stake in Charles Schwab by 14.9% in the first quarter. Cozad Asset Management Inc. now owns 73,479 shares of the financial services provider’s stock valued at $3,142,000 after purchasing an additional 9,530 shares during the last quarter. Finally, Cobiz Wealth LLC increased its stake in Charles Schwab by 3.1% in the first quarter. Cobiz Wealth LLC now owns 175,237 shares of the financial services provider’s stock valued at $7,493,000 after purchasing an additional 5,340 shares during the last quarter. Institutional investors own 80.07% of the company’s stock.

Several equities analysts have commented on the stock. Zacks Investment Research upgraded shares of Charles Schwab from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research note on Thursday, January 3rd. Credit Suisse Group increased their price target on shares of Charles Schwab from $50.00 to $54.00 and gave the company an “outperform” rating in a research note on Thursday, January 17th. ValuEngine upgraded shares of Charles Schwab from a “sell” rating to a “hold” rating in a research note on Wednesday, January 16th. UBS Group lowered shares of Charles Schwab from a “neutral” rating to a “sell” rating and dropped their price target for the company from $48.00 to $42.00 in a research note on Wednesday, February 20th. Finally, Wells Fargo & Co dropped their price target on shares of Charles Schwab from $48.00 to $47.00 and set a “market perform” rating on the stock in a research note on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company’s stock. Charles Schwab presently has an average rating of “Buy” and a consensus target price of $53.22.

In other news, Chairman Charles R. Schwab sold 250,000 shares of the stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $47.04, for a total value of $11,760,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jonathan M. Craig sold 3,740 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $46.52, for a total value of $173,984.80. Following the completion of the sale, the executive vice president now directly owns 66,190 shares of the company’s stock, valued at $3,079,158.80. The disclosure for this sale can be found here. Insiders sold 383,617 shares of company stock valued at $17,906,122 over the last three months. Corporate insiders own 10.90% of the company’s stock.

Shares of Charles Schwab stock opened at $45.55 on Friday. The company has a market capitalization of $60.77 billion, a price-to-earnings ratio of 18.59, a P/E/G ratio of 1.47 and a beta of 1.32. Charles Schwab Co. has a 52 week low of $37.83 and a 52 week high of $60.22. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.83 and a current ratio of 1.08.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Monday, April 15th. The financial services provider reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.03. The business had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.67 billion. Charles Schwab had a return on equity of 20.79% and a net margin of 35.27%. The company’s revenue was up 13.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.55 earnings per share. Analysts anticipate that Charles Schwab Co. will post 2.77 EPS for the current fiscal year.

Charles Schwab announced that its board has authorized a stock buyback plan on Wednesday, January 30th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 6.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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About Charles Schwab

The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.

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Institutional Ownership by Quarter for Charles Schwab (NYSE:SCHW)

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