The Charles Schwab Co. (NYSE:SCHW) Chairman Charles R. Schwab Sells 62,345 Shares

The Charles Schwab Co. (NYSE:SCHW) Chairman Charles R. Schwab sold 62,345 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the completion of the transaction, the chairman now owns 60,619,371 shares in the company, valued at $4,396,116,784.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Charles Schwab Stock Down 0.2 %

Charles Schwab stock opened at $71.90 on Friday. The firm has a market capitalization of $127.87 billion, a P/E ratio of 29.83, a P/E/G ratio of 1.47 and a beta of 0.97. The company has a 50-day simple moving average of $64.80 and a 200-day simple moving average of $69.53. The Charles Schwab Co. has a one year low of $48.66 and a one year high of $79.49. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.75 by $0.02. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. Charles Schwab’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.77 earnings per share. As a group, equities analysts expect that The Charles Schwab Co. will post 3.06 earnings per share for the current year.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.00 dividend on an annualized basis and a yield of 1.39%. Charles Schwab’s dividend payout ratio (DPR) is presently 41.49%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on SCHW shares. Barclays upped their target price on Charles Schwab from $64.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Cowen upped their target price on shares of Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research note on Tuesday. Wells Fargo & Company lifted their price target on shares of Charles Schwab from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Citigroup dropped their target price on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a research report on Friday, September 27th. Finally, Piper Sandler lifted their price objective on Charles Schwab from $64.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Charles Schwab has a consensus rating of “Hold” and a consensus target price of $73.59.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Country Trust Bank bought a new position in Charles Schwab in the 2nd quarter valued at about $26,000. American Capital Advisory LLC bought a new position in shares of Charles Schwab in the second quarter valued at approximately $27,000. Fortitude Family Office LLC increased its stake in shares of Charles Schwab by 97.5% during the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 192 shares during the period. CGC Financial Services LLC bought a new stake in Charles Schwab during the second quarter worth approximately $29,000. Finally, Mizuho Securities Co. Ltd. acquired a new stake in Charles Schwab in the second quarter worth approximately $29,000. Institutional investors own 84.38% of the company’s stock.

About Charles Schwab

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.