Charles Schwab Co. (NYSE:SCHW) EVP Peter J. Morgan III sold 624 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $49.70, for a total transaction of $31,012.80. Following the sale, the executive vice president now directly owns 13,556 shares of the company’s stock, valued at approximately $673,733.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
NYSE SCHW opened at $49.57 on Tuesday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.40. The company has a fifty day simple moving average of $43.55 and a 200 day simple moving average of $41.28. Charles Schwab Co. has a 12-month low of $34.58 and a 12-month high of $50.97. The company has a market cap of $63.47 billion, a P/E ratio of 20.23, a PEG ratio of 3.11 and a beta of 1.40.
Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.05. Charles Schwab had a return on equity of 20.81% and a net margin of 35.12%. The business had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.65 billion. During the same period last year, the business earned $0.65 EPS. The business’s revenue was up 5.1% on a year-over-year basis. Sell-side analysts predict that Charles Schwab Co. will post 2.73 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend was Thursday, November 7th. Charles Schwab’s dividend payout ratio (DPR) is presently 27.76%.
Several research firms recently issued reports on SCHW. JPMorgan Chase & Co. reduced their price target on shares of Charles Schwab from $48.00 to $44.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. UBS Group raised shares of Charles Schwab from a “sell” rating to a “neutral” rating and lifted their price target for the company from $35.00 to $50.00 in a research report on Monday. Wells Fargo & Co reissued a “hold” rating on shares of Charles Schwab in a research report on Tuesday, November 26th. Credit Suisse Group reduced their price target on shares of Charles Schwab from $55.00 to $49.00 and set an “outperform” rating for the company in a research report on Tuesday, October 1st. Finally, Sandler O’Neill set a $45.00 price target on shares of Charles Schwab and gave the company a “buy” rating in a research report on Tuesday, October 15th. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $45.78.
Large investors have recently modified their holdings of the business. Canada Pension Plan Investment Board raised its stake in shares of Charles Schwab by 5.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,195,391 shares of the financial services provider’s stock worth $48,043,000 after purchasing an additional 59,260 shares during the period. Comerica Bank raised its stake in shares of Charles Schwab by 2.1% during the 2nd quarter. Comerica Bank now owns 281,960 shares of the financial services provider’s stock worth $11,619,000 after purchasing an additional 5,665 shares during the period. Chemical Bank raised its stake in shares of Charles Schwab by 2.3% during the 2nd quarter. Chemical Bank now owns 54,203 shares of the financial services provider’s stock worth $2,179,000 after purchasing an additional 1,236 shares during the period. Steward Partners Investment Advisory LLC raised its stake in shares of Charles Schwab by 3.6% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 32,701 shares of the financial services provider’s stock worth $1,367,000 after purchasing an additional 1,150 shares during the period. Finally, Rathbone Brothers plc raised its stake in shares of Charles Schwab by 3.2% during the 2nd quarter. Rathbone Brothers plc now owns 15,943 shares of the financial services provider’s stock worth $641,000 after purchasing an additional 495 shares during the period. Institutional investors and hedge funds own 78.85% of the company’s stock.
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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