The Charles Schwab Co. (NYSE:SCHW – Get Rating) CEO Walter W. Bettinger purchased 63,188 shares of the stock in a transaction on Friday, April 29th. The stock was acquired at an average cost of $67.07 per share, for a total transaction of $4,238,019.16. Following the completion of the acquisition, the chief executive officer now owns 432,625 shares of the company’s stock, valued at approximately $29,016,158.75. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of SCHW stock opened at $66.33 on Friday. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.41. The Charles Schwab Co. has a 52 week low of $65.73 and a 52 week high of $96.24. The stock has a market capitalization of $120.46 billion, a PE ratio of 24.03, a P/E/G ratio of 0.75 and a beta of 1.00. The firm has a 50 day moving average of $81.62 and a two-hundred day moving average of $83.84.
Charles Schwab (NYSE:SCHW – Get Rating) last issued its quarterly earnings results on Monday, April 18th. The financial services provider reported $0.77 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.07). Charles Schwab had a net margin of 31.24% and a return on equity of 13.67%. The business had revenue of $4.67 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same period in the prior year, the business earned $0.84 EPS. The business’s quarterly revenue was down .9% on a year-over-year basis. Analysts expect that The Charles Schwab Co. will post 4.07 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 27th. Stockholders of record on Friday, May 13th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, May 12th. This represents a $0.80 annualized dividend and a dividend yield of 1.21%. Charles Schwab’s dividend payout ratio (DPR) is currently 28.99%.
Several research firms recently weighed in on SCHW. Zacks Investment Research downgraded shares of Charles Schwab from a “buy” rating to a “hold” rating and set a $91.00 price target for the company. in a research report on Monday, February 21st. Compass Point upgraded shares of Charles Schwab from a “neutral” rating to a “buy” rating and set a $98.00 price target for the company in a report on Tuesday, April 12th. UBS Group cut their price target on shares of Charles Schwab from $80.00 to $72.00 in a report on Sunday, April 24th. Citigroup increased their price objective on shares of Charles Schwab from $87.50 to $90.00 and gave the stock a “buy” rating in a research report on Friday, April 22nd. Finally, StockNews.com cut shares of Charles Schwab from a “hold” rating to a “sell” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $94.25.
Institutional investors have recently added to or reduced their stakes in the company. First Foundation Advisors lifted its position in shares of Charles Schwab by 5.1% during the 3rd quarter. First Foundation Advisors now owns 271,839 shares of the financial services provider’s stock worth $19,801,000 after purchasing an additional 13,292 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Charles Schwab during the 4th quarter worth $139,544,000. Franklin Resources Inc. lifted its position in shares of Charles Schwab by 0.7% during the 3rd quarter. Franklin Resources Inc. now owns 5,305,209 shares of the financial services provider’s stock worth $386,431,000 after purchasing an additional 36,423 shares during the last quarter. CIBC Asset Management Inc lifted its position in shares of Charles Schwab by 20.7% during the 3rd quarter. CIBC Asset Management Inc now owns 280,932 shares of the financial services provider’s stock worth $20,463,000 after purchasing an additional 48,254 shares during the last quarter. Finally, JustInvest LLC lifted its position in shares of Charles Schwab by 15.1% during the 3rd quarter. JustInvest LLC now owns 23,418 shares of the financial services provider’s stock worth $1,706,000 after purchasing an additional 3,065 shares during the last quarter. 71.58% of the stock is owned by institutional investors and hedge funds.
About Charles Schwab (Get Rating)
The Charles Schwab Corporation, together with its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates in two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage, investment advisory, banking and trust, retirement plan, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor and mutual fund clearing services, as well as compliance solutions.
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