The Charles Schwab Corporation (NYSE:SCHW - Get Free Report) Chairman Walter Bettinger sold 74,388 shares of the company's stock in a transaction on Friday, August 28th. The stock was sold at an average price of $110.91, for a total value of $8,250,373.08. Following the transaction, the chairman directly owned 610,360 shares in the company, valued at approximately $67,695,027.60. This represents a 10.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Charles Schwab Stock Down 0.2%
NYSE SCHW opened at $109.96 on Tuesday. The stock has a fifty day moving average of $103.78 and a 200-day moving average of $96.39. The stock has a market capitalization of $190.16 billion, a P/E ratio of 19.99, a price-to-earnings-growth ratio of 0.83 and a beta of 0.76. The Charles Schwab Corporation has a 52 week low of $83.96 and a 52 week high of $114.53. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.64 and a current ratio of 0.64.
Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.06. Charles Schwab had a return on equity of 24.53% and a net margin of 38.79%.The business had revenue of $7.07 billion for the quarter, compared to analyst estimates of $6.90 billion. During the same quarter in the prior year, the firm posted $1.14 earnings per share. The firm's revenue for the quarter was up 20.9% compared to the same quarter last year. On average, equities research analysts forecast that The Charles Schwab Corporation will post 6.46 EPS for the current year.
Charles Schwab Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, August 14th. Charles Schwab's payout ratio is currently 23.27%.
Hedge Funds Weigh In On Charles Schwab
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of Nova Scotia bought a new stake in shares of Charles Schwab in the second quarter worth about $3,780,000. Geode Capital Management LLC raised its position in shares of Charles Schwab by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 37,667,640 shares of the financial services provider's stock worth $3,747,646,000 after purchasing an additional 98,242 shares during the period. Swiss Life Asset Management Ltd lifted its holdings in shares of Charles Schwab by 4.2% during the 4th quarter. Swiss Life Asset Management Ltd now owns 407,179 shares of the financial services provider's stock valued at $40,681,000 after purchasing an additional 16,482 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new position in shares of Charles Schwab during the 4th quarter valued at about $35,233,000. Finally, Norges Bank acquired a new position in shares of Charles Schwab in the 4th quarter valued at approximately $1,994,189,000. Institutional investors own 84.38% of the company's stock.
Analyst Ratings Changes
Several brokerages have recently issued reports on SCHW. Piper Sandler set a $118.00 target price on shares of Charles Schwab in a research note on Tuesday, July 21st. Weiss Ratings reissued a "buy (b-)" rating on shares of Charles Schwab in a research note on Thursday, June 18th. TD Cowen increased their price objective on shares of Charles Schwab from $108.00 to $109.00 and gave the company a "buy" rating in a report on Friday, May 15th. Barclays raised their price objective on shares of Charles Schwab from $122.00 to $125.00 and gave the company an "overweight" rating in a research note on Wednesday, July 22nd. Finally, Wolfe Research reaffirmed an "outperform" rating and set a $127.00 target price on shares of Charles Schwab in a report on Tuesday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Charles Schwab has a consensus rating of "Moderate Buy" and an average target price of $121.17.
Check Out Our Latest Research Report on Charles Schwab
About Charles Schwab
(
Get Free Report)
Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.
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