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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Charles Schwab Stock Performance

Shares of SCHW opened at $73.42 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.43 and a current ratio of 0.43. The stock has a market capitalization of $130.40 billion, a P/E ratio of 30.72, a P/E/G ratio of 1.06 and a beta of 1.01. The company’s fifty day moving average is $68.58 and its two-hundred day moving average is $63.02. The Charles Schwab Co. has a 1 year low of $45.65 and a 1 year high of $73.88.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.04. The company had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $4.49 billion. Charles Schwab had a net margin of 26.14% and a return on equity of 19.86%. Charles Schwab’s revenue was down 18.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.07 EPS. On average, sell-side analysts predict that The Charles Schwab Co. will post 3.43 earnings per share for the current year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $1.00 annualized dividend and a yield of 1.36%. Charles Schwab’s dividend payout ratio is currently 41.84%.

Hedge Funds Weigh In On Charles Schwab

Several institutional investors have recently bought and sold shares of SCHW. Providence Capital Advisors LLC acquired a new position in Charles Schwab in the 3rd quarter valued at $28,000. Main Street Group LTD acquired a new position in shares of Charles Schwab during the 4th quarter worth $29,000. Sugarloaf Wealth Management LLC grew its stake in shares of Charles Schwab by 60.0% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 165 shares during the period. Frazier Financial Advisors LLC acquired a new position in shares of Charles Schwab during the 4th quarter worth $30,000. Finally, Wetzel Investment Advisors Inc. acquired a new position in shares of Charles Schwab during the 4th quarter worth $31,000. 84.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on SCHW shares. JPMorgan Chase & Co. lifted 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. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Charles Schwab from $75.00 to $77.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. StockNews.com upgraded shares of Charles Schwab from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. JMP Securities restated a “market outperform” rating and set a $80.00 price objective on shares of Charles Schwab in a research report on Tuesday. Finally, TD Cowen boosted their price objective on shares of Charles Schwab from $87.00 to $92.00 and gave the stock a “buy” rating in a research report on Tuesday. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus 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.