Jonathan Beatty Sells 3,072 Shares of Charles Schwab (NYSE:SCHW) Stock

The Charles Schwab Corporation (NYSE:SCHW) insider Jonathan Beatty sold 3,072 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $98.00, for a total transaction of $301,056.00. Following the completion of the transaction, the insider owned 11,923 shares of the company’s stock, valued at $1,168,454. This trade represents a 20.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Charles Schwab Price Performance

Shares of SCHW stock opened at $94.37 on Friday. The firm has a market cap of $167.70 billion, a price-to-earnings ratio of 22.10, a PEG ratio of 0.85 and a beta of 1.02. The Charles Schwab Corporation has a 12 month low of $65.88 and a 12 month high of $99.59. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The stock has a 50-day moving average price of $94.06 and a 200 day moving average price of $92.43.

Charles Schwab (NYSE:SCHW) last released its earnings results on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. The firm had revenue of $6.38 billion during the quarter, compared to analyst estimates of $5.93 billion. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The business’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.71 EPS. Research analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. Charles Schwab’s payout ratio is presently 25.29%.

Charles Schwab declared that its Board of Directors has authorized a share buyback program on Thursday, July 24th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 11.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages recently commented on SCHW. TD Cowen increased their target price on shares of Charles Schwab from $129.00 to $134.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Piper Sandler reaffirmed a “neutral” rating on shares of Charles Schwab in a research report on Tuesday, October 14th. JPMorgan Chase & Co. upped their price objective on Charles Schwab from $119.00 to $121.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Morgan Stanley raised their target price on shares of Charles Schwab from $130.00 to $139.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. Finally, Barclays boosted their target price on shares of Charles Schwab from $114.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $106.45.

Institutional Investors Weigh In On Charles Schwab

A number of large investors have recently added to or reduced their stakes in SCHW. Vanguard Group Inc. raised its position in shares of Charles Schwab by 0.3% in the third quarter. Vanguard Group Inc. now owns 151,585,214 shares of the financial services provider’s stock valued at $14,471,840,000 after purchasing an additional 403,133 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Charles Schwab by 12.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock worth $6,422,795,000 after acquiring an additional 8,954,248 shares during the last quarter. State Street Corp grew its position in shares of Charles Schwab by 0.7% in the second quarter. State Street Corp now owns 72,464,619 shares of the financial services provider’s stock valued at $6,611,672,000 after purchasing an additional 531,329 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Charles Schwab by 2.9% during the 2nd quarter. Geode Capital Management LLC now owns 37,381,183 shares of the financial services provider’s stock worth $3,399,181,000 after purchasing an additional 1,038,376 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in Charles Schwab by 2.8% in the 2nd quarter. Franklin Resources Inc. now owns 30,035,937 shares of the financial services provider’s stock valued at $2,740,479,000 after purchasing an additional 815,625 shares during the period. Institutional investors own 84.38% of the company’s stock.

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.