Charles Schwab Co. (NYSE:SCHW) Chairman Charles R. Schwab Sells 30,873 Shares
Charles Schwab Co. (NYSE:SCHW) Chairman Charles R. Schwab sold 30,873 shares of the company in a trade dated Thursday, Feb. 10. The shares were sold at an average price of $95.50, for a total value of $2,948,371.50. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC’s website.
SCHW stock traded at $3.55 on Friday, hitting $89.30. The company had a trading volume of 1,233,597 shares, compared to an average volume of 9,282,155. The Charles Schwab Co. has a 12-month low of $55.41 and a 12-month high of 96, $24. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt ratio of 0.41. The stock’s 50-day simple moving average is $87.63 and its 200-day simple moving average is $79.98. The stock has a market capitalization of $161.75 billion, a price/earnings ratio of 32.93, a P/E/G ratio of 0.88 and a beta of 1.04.
Charles Schwab Inc (NYSE:SCHW) last reported earnings on Tuesday, January 18. The financial services provider reported earnings per share (EPS) of $0.86 for the quarter, missing Thomson Reuters consensus estimate of $0.88 per ($0.02). Charles Schwab had a return on equity of 14.01% and a net margin of 31.61%. In the same quarter a year earlier, the company posted earnings per share of $0.74. Research analysts expect The Charles Schwab Co. to post earnings per share of 3.99 for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 25. Shareholders of record on Friday, February 11 will receive a dividend of $0.20 per share. This represents an annualized dividend of $0.80 and a dividend yield of 0.90%. The ex-dividend date is Thursday, February 10. This is a boost from Charles Schwab’s previous quarterly dividend of $0.18. Charles Schwab’s dividend payout ratio (DPR) is currently 25.53%.
SCHW has been the subject of a number of recent research reports. Zacks Investment Research has downgraded Charles Schwab from a “buy” rating to a “hold” rating and has set a price target of $85.00 for the company. in a report on Tuesday, December 7. Jefferies Financial Group raised its price target on Charles Schwab from $89.00 to $96.00 and gave the company a “buy” rating in a Friday, October 22 research note. Morgan Stanley raised its price target on Charles Schwab from $130.00 to $132.00 and gave the company an “overweight” rating in a Tuesday, Feb. 1 research note. Bank of America began covering Charles Schwab shares in a report on Thursday, December 16. They set a “buy” rating on the stock. Finally, UBS Group raised its price target on Charles Schwab shares from $83.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, January 4. Five research analysts gave the stock a hold rating and fourteen gave the company a buy rating. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $96.44.
Several institutional investors have recently changed their stake in the company. First Trust Advisors LP bought a new stock position in Charles Schwab during Q1 worth $1,805,000. LPL Financial LLC increased its stake in Charles Schwab by 15.0% in the second quarter. LPL Financial LLC now owns 321,924 shares of the financial services provider valued at $23,439,000 after acquiring an additional 41,870 shares in the last quarter. Sigma Planning Corp bought a new stake in Charles Schwab in Q2 worth $551,000. Lincoln National Corp increased its stake in Charles Schwab by 7.4% in the second quarter. Lincoln National Corp now owns 4,274 shares of the financial services provider valued at $311,000 after acquiring 296 additional shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its stake in Charles Schwab by 9.2% in the second quarter. Brown Brothers Harriman & Co. now owns 20,337 shares of the financial services provider valued at $1,481,000 after acquiring 1,711 additional shares in the last quarter. Institutional investors and hedge funds own 71.35% of the company’s shares.
About Charles Schwab
The Charles Schwab Corp. is a savings and loans holding company, which provides wealth management, securities brokerage, banking, asset management, custody and financial advisory services. It operates through Investor Services and Advisor Services segments. The Investor Services segment includes retail brokerage and banking services to individual investors, as well as pension plan services, as well as other brokerage services to companies, businesses and their employees.
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