Peter J. Morgan III Sells 24,520 Shares of The Charles Schwab Co. (NYSE:SCHW) Stock

The Charles Schwab Co. (NYSE:SCHW) General Counsel Peter J. Morgan III sold 24,520 shares of Charles Schwab stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $72.23, for a total transaction of $1,771,079.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Charles Schwab Stock Performance

Shares of SCHW traded up $0.42 during trading hours on Thursday, hitting $72.92. The company’s stock had a trading volume of 8,207,565 shares, compared to its average volume of 7,756,188. The business has a 50 day simple moving average of $68.38 and a two-hundred day simple moving average of $62.89. The Charles Schwab Co. has a 52-week low of $45.65 and a 52-week high of $73.88. The company has a market cap of $129.51 billion, a price-to-earnings ratio of 30.51, a PEG ratio of 1.10 and a beta of 1.01. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.43 and a quick ratio of 0.43.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.68 EPS for the quarter, topping the consensus estimate of $0.64 by $0.04. Charles Schwab had a return on equity of 19.86% and a net margin of 26.14%. The firm had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.49 billion. During the same quarter in the previous year, the business earned $1.07 earnings per share. The company’s quarterly revenue was down 18.9% on a year-over-year basis. On average, equities analysts expect that The Charles Schwab Co. will post 3.41 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend was Thursday, February 8th. Charles Schwab’s payout ratio is presently 41.84%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Dodge & Cox boosted its position in Charles Schwab by 10.5% during the fourth quarter. Dodge & Cox now owns 86,421,986 shares of the financial services provider’s stock worth $5,945,833,000 after purchasing an additional 8,182,467 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Charles Schwab by 33.4% during the 4th 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. Massachusetts Financial Services Co. MA lifted its holdings in shares of Charles Schwab by 4.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 30,994,967 shares of the financial services provider’s stock valued at $2,132,454,000 after purchasing an additional 1,219,015 shares in the last quarter. Geode Capital Management LLC boosted its stake in Charles Schwab by 1.5% in the 1st quarter. Geode Capital Management LLC now owns 27,050,168 shares of the financial services provider’s stock worth $1,413,244,000 after buying an additional 391,238 shares during the last quarter. Finally, Morgan Stanley boosted its position in Charles Schwab by 62.5% during the 4th quarter. Morgan Stanley now owns 22,255,649 shares of the financial services provider’s stock worth $1,853,005,000 after purchasing an additional 8,563,389 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

SCHW has been the topic of several research reports. StockNews.com raised Charles Schwab from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Deutsche Bank Aktiengesellschaft boosted their target price on Charles Schwab from $75.00 to $77.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Piper Sandler upped their target price on shares of Charles Schwab from $75.00 to $78.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. Barclays upped their price target on Charles Schwab from $74.00 to $75.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. upped their price target on shares of Charles Schwab from $86.00 to $89.00 and gave the stock an “overweight” rating in a research note on Tuesday. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $74.47.

Charles Schwab Company Profile

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.