Charles R. Schwab Sells 66,225 Shares of The Charles Schwab Co. (NYSE:SCHW) Stock (2024)

Posted by ABMN Staff on May 10th, 2024

The Charles Schwab Co. (NYSE:SCHW – Get Free Report) Chairman Charles R. Schwab sold 66,225 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $75.51, for a total transaction of $5,000,649.75. Following the completion of the sale, the chairman now directly owns 60,972,476 shares of the company’s stock, valued at approximately $4,604,031,662.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Charles Schwab Trading Down 0.9 %

Charles Schwab stock opened at $75.44 on Friday. The Charles Schwab Co. has a one year low of $46.55 and a one year high of $77.05. The company has a market cap of $133.99 billion, a price-to-earnings ratio of 31.56, a P/E/G ratio of 1.11 and a beta of 0.98. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.43 and a quick ratio of 0.43. The firm has a 50-day moving average of $71.42 and a 200-day moving average of $65.23.

Charles Schwab (NYSE:SCHW – Get Free Report) last posted its quarterly earnings results on Monday, April 15th. The financial services provider reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.01. Charles Schwab had a return on equity of 19.86% and a net margin of 26.14%. The firm had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.71 billion. On average, equities analysts expect that The Charles Schwab Co. will post 3.42 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend is Thursday, May 9th. Charles Schwab’s dividend payout ratio is 41.84%.

Institutional Investors Weigh In On Charles Schwab

A number of institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD increased its holdings in shares of Charles Schwab by 33.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 69,360,233 shares of the financial services provider’s stock worth $4,771,985,000 after purchasing an additional 17,369,091 shares during the period. Norges Bank bought a new position in Charles Schwab during the 4th quarter worth $950,192,000. Massachusetts Financial Services Co. MA lifted its position in shares of Charles Schwab by 26.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 29,775,952 shares of the financial services provider’s stock valued at $1,634,700,000 after acquiring an additional 6,195,934 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Charles Schwab by 186.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 7,107,176 shares of the financial services provider’s stock worth $390,234,000 after purchasing an additional 4,624,302 shares in the last quarter. Finally, Boston Partners raised its stake in Charles Schwab by 424.7% in the fourth quarter. Boston Partners now owns 4,451,090 shares of the financial services provider’s stock valued at $305,400,000 after purchasing an additional 3,602,830 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SCHW. Barclays boosted their target price on Charles Schwab from $74.00 to $75.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 16th. TD Cowen increased their target price on Charles Schwab from $87.00 to $92.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Charles Schwab from $75.00 to $77.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Citigroup increased their price objective on shares of Charles Schwab from $70.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Finally, Piper Sandler boosted their price objective on shares of Charles Schwab from $75.00 to $78.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $74.47.

Check Out Our Latest Analysis on SCHW

About Charles Schwab

(Get Free Report)

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.

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