Traders Purchase Large Volume of Charles Schwab Put Options (NYSE:SCHW)

The Charles Schwab Co. (NYSE:SCHW) was the target of some unusual options trading on Tuesday. Stock traders purchased 97,570 put options on the company. This is an increase of approximately 64% compared to the typical daily volume of 59,335 put options.

Insider Activity at Charles Schwab

In other news, CFO Peter B. Crawford sold 3,114 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $56.19, for a total transaction of $174,975.66. Following the sale, the chief financial officer now owns 41,611 shares in the company, valued at approximately $2,338,122.09. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Peter B. Crawford sold 3,114 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $56.19, for a total transaction of $174,975.66. Following the transaction, the chief financial officer now directly owns 41,611 shares in the company, valued at approximately $2,338,122.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Peter J. Morgan III sold 8,000 shares of the company’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $59.61, for a total transaction of $476,880.00. Following the completion of the sale, the general counsel now directly owns 8,014 shares in the company, valued at $477,714.54. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,824 shares of company stock valued at $1,214,937. 6.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Charles Schwab

Several hedge funds and other institutional investors have recently bought and sold shares of SCHW. Allen Mooney & Barnes Investment Advisors LLC bought a new position in Charles Schwab in the third quarter worth approximately $9,598,000. Comerica Bank grew its position in Charles Schwab by 3,002.3% in the 3rd quarter. Comerica Bank now owns 345,188 shares of the financial services provider’s stock valued at $18,951,000 after purchasing an additional 334,061 shares during the period. Kampmann Melissa S. bought a new stake in Charles Schwab during the 3rd quarter valued at $1,347,000. Diversified Trust Co raised its holdings in Charles Schwab by 20.2% during the third quarter. Diversified Trust Co now owns 12,778 shares of the financial services provider’s stock worth $702,000 after buying an additional 2,149 shares during the last quarter. Finally, Twin Lakes Capital Management LLC lifted its stake in shares of Charles Schwab by 0.4% in the third quarter. Twin Lakes Capital Management LLC now owns 77,639 shares of the financial services provider’s stock valued at $4,262,000 after buying an additional 282 shares in the last quarter. 81.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SCHW has been the subject of several recent research reports. JPMorgan Chase & Co. reduced their price target on Charles Schwab from $92.00 to $85.00 and set an “overweight” rating for the company in a research note on Tuesday, October 17th. JMP Securities restated a “market outperform” rating and issued a $77.00 price target on shares of Charles Schwab in a research note on Tuesday, October 17th. Jefferies Financial Group dropped their price objective on shares of Charles Schwab from $66.00 to $62.00 in a research note on Tuesday, October 10th. Piper Sandler decreased their target price on shares of Charles Schwab from $86.00 to $75.00 and set an “overweight” rating on the stock in a research report on Monday, October 9th. Finally, Morgan Stanley lowered their target price on shares of Charles Schwab from $71.00 to $64.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 11th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $69.91.

Charles Schwab Trading Down 1.0 %

Shares of SCHW traded down $0.55 during mid-day trading on Tuesday, reaching $56.01. 3,382,786 shares of the company were exchanged, compared to its average volume of 15,391,843. The business has a 50 day simple moving average of $53.96 and a two-hundred day simple moving average of $56.35. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.66 and a current ratio of 0.66. The stock has a market capitalization of $99.23 billion, a PE ratio of 18.67, a PEG ratio of 2.46 and a beta of 0.94. Charles Schwab has a 52 week low of $45.00 and a 52 week high of $86.63.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Monday, October 16th. The financial services provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. The business had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.62 billion. Charles Schwab had a net margin of 30.14% and a return on equity of 24.58%. Charles Schwab’s quarterly revenue was down 16.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.10 earnings per share. On average, analysts predict that Charles Schwab will post 3.16 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Friday, November 10th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, November 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.79%. Charles Schwab’s payout ratio is presently 33.33%.

About Charles Schwab

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. The company operates in two segments, Investor Services and Advisor Services.