Carolyn Schwab-Pomerantz Sells 29,800 Shares of The Charles Schwab Co. (NYSE:SCHW) Stock

The Charles Schwab Co. (NYSE:SCHW) Director Carolyn Schwab-Pomerantz sold 29,800 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $72.16, for a total transaction of $2,150,368.00. Following the transaction, the director now owns 551,329 shares in the company, valued at approximately $39,783,900.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Carolyn Schwab-Pomerantz also recently made the following trade(s):

• On Tuesday, September 17th, Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock. The stock was sold at an average price of $64.05, for a total transaction of $576,450.00.
• On Thursday, August 15th, Carolyn Schwab-Pomerantz sold 12,320 shares of Charles Schwab stock. The shares were sold at an average price of $65.10, for a total transaction of $802,032.00.

Charles Schwab Stock Performance

NYSE SCHW opened at $71.36 on Friday. The business has a 50 day moving average price of $64.97 and a 200 day moving average price of $69.51. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42. The company has a market capitalization of $126.91 billion, a P/E ratio of 29.61, a PEG ratio of 1.47 and a beta of 0.97. The Charles Schwab Co. has a 1-year low of $48.66 and a 1-year high of $79.49.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.02. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.77 EPS. Sell-side analysts expect that The Charles Schwab Co. will post 3.06 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a $0.25 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.40%. Charles Schwab’s dividend payout ratio is presently 41.49%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SCHW. Vanguard Group Inc. increased its position in Charles Schwab by 0.9% during the first quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider’s stock worth $8,750,473,000 after buying an additional 1,042,823 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Charles Schwab by 4.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock valued at $5,230,657,000 after acquiring an additional 2,946,327 shares during the last quarter. Legal & General Group Plc increased its position in Charles Schwab by 2.1% during the 2nd quarter. Legal & General Group Plc now owns 10,886,058 shares of the financial services provider’s stock worth $802,193,000 after purchasing an additional 225,397 shares in the last quarter. Allen Investment Management LLC raised its stake in Charles Schwab by 3.0% in the 2nd quarter. Allen Investment Management LLC now owns 8,712,364 shares of the financial services provider’s stock valued at $642,014,000 after purchasing an additional 251,485 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its holdings in Charles Schwab by 8.9% in the 1st quarter. Lazard Asset Management LLC now owns 7,305,050 shares of the financial services provider’s stock valued at $528,445,000 after purchasing an additional 596,589 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SCHW has been the subject of several analyst reports. Cowen upped their price objective on Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Piper Sandler upped their price target on Charles Schwab from $64.00 to $65.00 and gave the stock a “neutral” rating in a research note on Wednesday. StockNews.com upgraded shares of Charles Schwab from a “sell” rating to a “hold” rating in a research report on Wednesday. Bank of America cut their price objective on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company in a research report on Wednesday. Finally, Wells Fargo & Company lifted their target price on shares of Charles Schwab from $70.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $73.59.

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.