Arun Sarin Sells 10,000 Shares of The Charles Schwab Corp. (SCHW) Stock
The Charles Schwab Corp. (NYSE:SCHW) Director Arun Sarin sold 10,000 shares of the business’s stock in a transaction dated Tuesday, November 29th. The stock was sold at an average price of $38.60, for a total value of $386,000.00. Following the sale, the director now owns 5,493 shares in the company, valued at approximately $212,029.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Shares of The Charles Schwab Corp. (NYSE:SCHW) traded up 0.29% on Tuesday, hitting $38.46. The company had a trading volume of 6,958,551 shares. The firm has a 50-day moving average price of $33.85 and a 200 day moving average price of $30.39. The company has a market capitalization of $50.99 billion, a P/E ratio of 31.02 and a beta of 1.68. The Charles Schwab Corp. has a 12-month low of $21.51 and a 12-month high of $39.22.
The Charles Schwab Corp. (NYSE:SCHW) last posted its quarterly earnings results on Monday, October 17th. The company reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.02. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.89 billion. The Charles Schwab Corp. had a return on equity of 13.64% and a net margin of 24.77%. The business’s quarterly revenue was up 19.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.27 EPS. Equities analysts expect that The Charles Schwab Corp. will post $1.29 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, November 28th. Shareholders of record on Monday, November 14th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.73%. The ex-dividend date was Wednesday, November 9th. The Charles Schwab Corp.’s dividend payout ratio (DPR) is 22.95%.
A number of equities analysts have recently weighed in on SCHW shares. Citigroup Inc. upgraded The Charles Schwab Corp. from a “neutral” rating to a “buy” rating in a report on Tuesday, November 22nd. Morgan Stanley started coverage on The Charles Schwab Corp. in a report on Monday, September 26th. They issued an “overweight” rating and a $37.00 target price on the stock. Bank of America Corp. upgraded The Charles Schwab Corp. from a “neutral” rating to a “buy” rating and upped their target price for the company from $21.51 to $38.00 in a report on Thursday, October 13th. Credit Suisse Group AG reiterated a “buy” rating and issued a $32.00 target price on shares of The Charles Schwab Corp. in a report on Monday, October 10th. Finally, SunTrust Banks Inc. upgraded The Charles Schwab Corp. from a “neutral” rating to a “buy” rating and upped their target price for the company from $32.00 to $33.00 in a report on Tuesday, October 18th. Two research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $33.69.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Ladenburg Thalmann Financial Services Inc. raised its position in The Charles Schwab Corp. by 14.9% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 23,221 shares of the company’s stock valued at $652,000 after buying an additional 3,014 shares during the period. First Republic Investment Management Inc. raised its position in The Charles Schwab Corp. by 11.4% in the first quarter. First Republic Investment Management Inc. now owns 416,137 shares of the company’s stock valued at $11,660,000 after buying an additional 42,647 shares during the period. Integrated Investment Consultants LLC raised its position in The Charles Schwab Corp. by 33.9% in the second quarter. Integrated Investment Consultants LLC now owns 4,943 shares of the company’s stock valued at $125,000 after buying an additional 1,252 shares during the period. Stock Yards Bank & Trust Co. bought a new position in The Charles Schwab Corp. during the second quarter valued at $7,352,000. Finally, Cullinan Associates Inc. bought a new position in The Charles Schwab Corp. during the second quarter valued at $2,642,000. 76.52% of the stock is currently owned by hedge funds and other 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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