Charles Schwab Corp (NYSE:SCHW) shares traded down 1.2% on Friday following insider selling activity. The company traded as low as $48.90 and last traded at $48.33. 5,336,153 shares changed hands during trading, a decline of 31% from the average session volume of 7,789,213 shares. The stock had previously closed at $48.90.
Specifically, EVP Terri R. Kallsen sold 2,026 shares of Charles Schwab stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $51.94, for a total transaction of $105,230.44. Following the completion of the sale, the executive vice president now directly owns 1,706 shares in the company, valued at $88,609.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Charles R. Schwab sold 350,000 shares of Charles Schwab stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $44.65, for a total transaction of $15,627,500.00. The disclosure for this sale can be found here. Insiders sold 2,008,944 shares of company stock worth $101,205,520 over the last ninety days. Corporate insiders own 12.00% of the company’s stock.
SCHW has been the subject of several research reports. Citigroup reiterated a “neutral” rating on shares of Charles Schwab in a research note on Friday, January 19th. BidaskClub downgraded shares of Charles Schwab from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 17th. Credit Suisse Group lowered their price objective on shares of Charles Schwab from $70.00 to $69.00 and set an “outperform” rating for the company in a research note on Wednesday. Nomura reiterated a “neutral” rating and set a $54.00 price objective (up from $50.00) on shares of Charles Schwab in a research note on Thursday, January 18th. Finally, Deutsche Bank lifted their price objective on shares of Charles Schwab from $46.00 to $47.00 and gave the stock a “hold” rating in a research note on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $53.88.
The firm has a market capitalization of $68,870.00, a PE ratio of 31.13, a price-to-earnings-growth ratio of 1.21 and a beta of 1.63. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.21.
Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. The business had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.24 billion. Charles Schwab had a net margin of 27.32% and a return on equity of 16.31%. The company’s revenue was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.36 earnings per share. equities research analysts anticipate that Charles Schwab Corp will post 2.37 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Friday, February 9th will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.80%. This is an increase from Charles Schwab’s previous quarterly dividend of $0.08. Charles Schwab’s dividend payout ratio is 24.84%.
Several institutional investors have recently modified their holdings of SCHW. Tudor Investment Corp ET AL acquired a new position in shares of Charles Schwab in the second quarter worth about $285,000. AHL Partners LLP acquired a new position in shares of Charles Schwab in the second quarter worth about $1,191,000. Raymond James Financial Services Advisors Inc. raised its position in shares of Charles Schwab by 26.2% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 75,231 shares of the financial services provider’s stock worth $3,232,000 after acquiring an additional 15,600 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of Charles Schwab by 2.3% in the second quarter. Public Employees Retirement System of Ohio now owns 868,956 shares of the financial services provider’s stock worth $37,330,000 after acquiring an additional 19,286 shares during the period. Finally, Gofen & Glossberg LLC IL raised its position in shares of Charles Schwab by 3.7% in the second quarter. Gofen & Glossberg LLC IL now owns 175,712 shares of the financial services provider’s stock worth $7,549,000 after acquiring an additional 6,264 shares during the period. Institutional investors and hedge funds own 79.72% of the company’s stock.
Charles Schwab Company Profile
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.