The Charles Schwab Corp. (SCHW) Chairman Charles R. Schwab Sells 32,210 Shares of Stock
The Charles Schwab Corp. (NYSE:SCHW) Chairman Charles R. Schwab sold 32,210 shares of the business’s stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $32.50, for a total value of $1,046,825.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
The Charles Schwab Corp. (NYSE:SCHW) traded up 5.40% during mid-day trading on Thursday, hitting $35.53. The company’s stock had a trading volume of 2,380,370 shares. The firm has a market cap of $47.01 billion, a price-to-earnings ratio of 28.65 and a beta of 1.68. The firm has a 50 day moving average of $31.77 and a 200-day moving average of $29.58. The Charles Schwab Corp. has a 52-week low of $21.51 and a 52-week high of $35.55.
The Charles Schwab Corp. (NYSE:SCHW) last issued its quarterly earnings results on Monday, October 17th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.02. The Charles Schwab Corp. had a net margin of 24.77% and a return on equity of 13.89%. The company earned $1.91 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter last year, the business posted $0.27 EPS. The Charles Schwab Corp.’s quarterly revenue was up 19.8% compared to the same quarter last year. On average, equities research analysts expect that The Charles Schwab Corp. will post $1.29 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 28th. Investors of record on Monday, November 14th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.83%. The ex-dividend date is Wednesday, November 9th. The Charles Schwab Corp.’s dividend payout ratio (DPR) is presently 22.95%.
SCHW has been the topic of several analyst reports. Morgan Stanley initiated coverage on The Charles Schwab Corp. in a report on Monday, September 26th. They set an “overweight” rating and a $37.00 price objective on the stock. Bank of America Corp. upgraded The Charles Schwab Corp. from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $21.51 to $38.00 in a report on Thursday, October 13th. Credit Suisse Group AG restated a “buy” rating and set a $32.00 price objective on shares of The Charles Schwab Corp. in a report on Monday, October 10th. Zacks Investment Research upgraded The Charles Schwab Corp. from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a report on Monday, September 26th. Finally, Jefferies Group boosted their price target on The Charles Schwab Corp. from $34.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, October 11th. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $33.69.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ruane Cunniff & Goldfarb Inc. acquired a new position in The Charles Schwab Corp. during the second quarter valued at approximately $231,722,000. Ameriprise Financial Inc. increased its position in The Charles Schwab Corp. by 391.5% in the second quarter. Ameriprise Financial Inc. now owns 9,562,757 shares of the company’s stock valued at $241,891,000 after buying an additional 7,617,032 shares during the period. Massachusetts Financial Services Co. MA increased its position in The Charles Schwab Corp. by 52.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 14,010,963 shares of the company’s stock valued at $354,616,000 after buying an additional 4,837,623 shares during the period. BlackRock Group LTD increased its position in The Charles Schwab Corp. by 37.6% in the third quarter. BlackRock Group LTD now owns 14,013,889 shares of the company’s stock valued at $442,418,000 after buying an additional 3,827,497 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its position in The Charles Schwab Corp. by 8.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 32,659,249 shares of the company’s stock valued at $826,606,000 after buying an additional 2,620,553 shares during the period. 76.32% of the stock is owned by institutional investors.
About The Charles Schwab Corp.
The Charles Schwab Corporation is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.
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