Walter W. Bettinger Buys 50,000 Shares of The Charles Schwab Co. (NYSE:SCHW) Stock

The Charles Schwab Co. (NYSE:SCHW – Get Rating) CEO Walter W. Bettinger bought 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 14th. The stock was bought at an average price of $59.31 per share, with a total value of $2,965,500.00. Following the acquisition, the chief executive officer now directly owns 656,501 shares in the company, valued at approximately $38,937,074.31. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Charles Schwab Price Performance

Charles Schwab stock opened at $56.68 on Wednesday. The stock has a market cap of $101.54 billion, a P/E ratio of 16.19, a price-to-earnings-growth ratio of 0.91 and a beta of 0.93. The company has a fifty day simple moving average of $78.02 and a 200-day simple moving average of $76.94. The Charles Schwab Co. has a 12-month low of $45.00 and a 12-month high of $93.16. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.77.

Charles Schwab (NYSE:SCHW – Get Rating) last released its quarterly earnings data on Wednesday, January 18th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($0.03). The firm had revenue of $5.50 billion for the quarter, compared to analysts’ expectations of $5.55 billion. Charles Schwab had a return on equity of 24.94% and a net margin of 34.60%. Charles Schwab’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period last year, the firm posted $0.86 earnings per share. Equities analysts expect that The Charles Schwab Co. will post 4.35 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 24th. Investors of record on Friday, February 10th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, February 9th. This is a boost from Charles Schwab’s previous quarterly dividend of $0.22. This represents a $1.00 dividend on an annualized basis and a yield of 1.76%. Charles Schwab’s payout ratio is 28.57%.

Institutional Investors Weigh In On Charles Schwab

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Claro Advisors LLC lifted its position in Charles Schwab by 27.6% in the fourth quarter. Claro Advisors LLC now owns 9,662 shares of the financial services provider’s stock valued at $804,000 after acquiring an additional 2,090 shares during the last quarter. Mather Group LLC. lifted its position in Charles Schwab by 7.8% in the fourth quarter. Mather Group LLC. now owns 3,933 shares of the financial services provider’s stock valued at $327,000 after acquiring an additional 283 shares during the last quarter. Great Lakes Retirement Inc. purchased a new stake in Charles Schwab in the fourth quarter valued at $806,000. Rockefeller Capital Management L.P. lifted its position in Charles Schwab by 306.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 626,076 shares of the financial services provider’s stock valued at $52,126,000 after acquiring an additional 472,150 shares during the last quarter. Finally, North Star Asset Management Inc. lifted its position in Charles Schwab by 0.5% in the fourth quarter. North Star Asset Management Inc. now owns 343,803 shares of the financial services provider’s stock valued at $28,625,000 after acquiring an additional 1,800 shares during the last quarter. 73.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SCHW has been the subject of several research reports. Citigroup upgraded shares of Charles Schwab from a “neutral” rating to a “buy” rating and dropped their target price for the company from $83.00 to $75.00 in a report on Monday. Piper Sandler dropped their target price on shares of Charles Schwab from $100.00 to $95.00 in a report on Tuesday. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Charles Schwab from $109.00 to $83.00 in a report on Tuesday. Bank of America dropped their target price on shares of Charles Schwab from $74.00 to $60.00 in a report on Monday. Finally, JPMorgan Chase & Co. assumed coverage on shares of Charles Schwab in a report on Friday, March 10th. They issued a “buy” rating and a $97.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Charles Schwab presently has an average rating of “Moderate Buy” and a consensus target price of $87.88.

Charles Schwab Company Profile

(Get Rating)

The Charles Schwab Corp. is a savings and loan holding company, which engages in the provision of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. It operates through the Investor Services and Advisor Services segments. The Investor Services segment includes retail brokerage and banking services to individual investors, and retirement plan services, as well as other corporate brokerage services, to businesses and their employees.