Insider Selling: Charles Schwab Corp (SCHW) EVP Sells 8,046 Shares of Stock
Charles Schwab Corp (NYSE:SCHW) EVP Jonathan M. Craig sold 8,046 shares of the company’s stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $54.31, for a total value of $436,978.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Charles Schwab Corp (NYSE:SCHW) opened at $57.70 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.31 and a quick ratio of 0.30. The firm has a market capitalization of $77,691.49, a price-to-earnings ratio of 35.18, a P/E/G ratio of 1.41 and a beta of 1.58. Charles Schwab Corp has a 52-week low of $37.16 and a 52-week high of $57.73.
Charles Schwab (NYSE:SCHW) last issued its earnings results on Wednesday, January 17th. The financial services provider reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.03. The business had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.24 billion. Charles Schwab had a return on equity of 16.03% and a net margin of 27.32%. The business’s quarterly revenue was up 13.7% on a year-over-year basis. During the same period last year, the company posted $0.36 EPS. analysts predict that Charles Schwab Corp will post 2.4 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently modified their holdings of the stock. Bogart Wealth LLC increased its holdings in Charles Schwab by 1,100.0% in the 4th quarter. Bogart Wealth LLC now owns 2,040 shares of the financial services provider’s stock valued at $105,000 after purchasing an additional 1,870 shares in the last quarter. Pinnacle Wealth Planning Services Inc. acquired a new stake in Charles Schwab in the 4th quarter valued at $118,000. Zions Bancorporation increased its holdings in Charles Schwab by 1,545.3% in the 3rd quarter. Zions Bancorporation now owns 3,817 shares of the financial services provider’s stock valued at $167,000 after purchasing an additional 3,585 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Charles Schwab in the 4th quarter valued at $187,000. Finally, Lourd Capital LLC acquired a new stake in Charles Schwab in the 4th quarter valued at $208,000. 79.98% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have weighed in on SCHW. Zacks Investment Research lowered Charles Schwab from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. SunTrust Banks reissued a “buy” rating on shares of Charles Schwab in a research note on Wednesday, February 14th. Credit Suisse Group reduced their price target on Charles Schwab from $70.00 to $69.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. Citigroup lowered Charles Schwab from a “neutral” rating to a “sell” rating and set a $49.00 price target on the stock. in a research note on Wednesday, February 7th. Finally, Morgan Stanley increased their price target on Charles Schwab from $61.00 to $63.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company. Charles Schwab presently has an average rating of “Buy” and an average target price of $54.33.
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About Charles Schwab
The Charles Schwab Corporation (CSC) 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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