NJ State Employees Deferred Compensation Plan Buys 8,800 Shares of The Charles Schwab Co. (NYSE:SCHW)

NJ State Employees Deferred Compensation Plan increased its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 35.2% during the 4th quarter, HoldingsChannel reports. The fund owned 33,800 shares of the financial services provider’s stock after purchasing an additional 8,800 shares during the quarter. NJ State Employees Deferred Compensation Plan’s holdings in Charles Schwab were worth $2,325,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Courier Capital LLC raised its holdings in Charles Schwab by 0.4% in the fourth quarter. Courier Capital LLC now owns 45,539 shares of the financial services provider’s stock worth $3,133,000 after purchasing an additional 161 shares during the period. Sugarloaf Wealth Management LLC increased its holdings in shares of Charles Schwab by 60.0% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 165 shares in the last quarter. Red Spruce Capital LLC raised its position in shares of Charles Schwab by 0.4% during the fourth quarter. Red Spruce Capital LLC now owns 41,855 shares of the financial services provider’s stock worth $2,880,000 after purchasing an additional 172 shares during the period. Uncommon Cents Investing LLC lifted its holdings in shares of Charles Schwab by 1.2% during the 4th quarter. Uncommon Cents Investing LLC now owns 14,872 shares of the financial services provider’s stock valued at $1,023,000 after purchasing an additional 175 shares in the last quarter. Finally, Diligent Investors LLC grew its position in shares of Charles Schwab by 3.0% in the 4th quarter. Diligent Investors LLC now owns 5,959 shares of the financial services provider’s stock valued at $410,000 after purchasing an additional 176 shares during the period. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Performance

Shares of Charles Schwab stock traded up $0.10 during trading on Friday, hitting $74.99. 5,523,207 shares of the stock were exchanged, compared to its average volume of 7,709,147. The Charles Schwab Co. has a 1-year low of $45.65 and a 1-year high of $75.55. The stock has a market capitalization of $133.19 billion, a price-to-earnings ratio of 31.25, a price-to-earnings-growth ratio of 1.10 and a beta of 1.01. The company has a fifty day moving average price of $69.47 and a 200-day moving average price of $63.68. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.82.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.33%. Charles Schwab’s dividend payout ratio is currently 41.84%.

Analysts Set New Price Targets

A number of research analysts have weighed in on SCHW shares. Citigroup lifted their price target on shares of Charles Schwab from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. JPMorgan Chase & Co. upped their target price on shares of Charles Schwab from $86.00 to $89.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 16th. Keefe, Bruyette & Woods increased their target price on Charles Schwab from $75.00 to $76.00 and gave the stock a “market perform” rating in a report on Tuesday, April 16th. Piper Sandler boosted their price target on Charles Schwab from $75.00 to $78.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Finally, StockNews.com upgraded Charles Schwab from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $74.47.

Insider Buying and Selling at Charles Schwab

In other news, CFO Peter B. Crawford sold 8,000 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $64.76, for a total value of $518,080.00. Following the transaction, the chief financial officer now directly owns 29,611 shares of the company’s stock, valued at approximately $1,917,608.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Charles Schwab news, CFO Peter B. Crawford sold 8,000 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $64.76, for a total transaction of $518,080.00. Following the transaction, the chief financial officer now directly owns 29,611 shares in the company, valued at approximately $1,917,608.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Charles R. Schwab sold 89,275 shares of Charles Schwab stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $74.62, for a total transaction of $6,661,700.50. Following the completion of the sale, the chairman now owns 30,641,981 shares of the company’s stock, valued at approximately $2,286,504,622.22. The disclosure for this sale can be found here. Insiders have sold a total of 389,167 shares of company stock valued at $26,987,035 in the last ninety days. 6.60% of the stock is currently owned by corporate insiders.

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.