Nigel Murtagh Sells 1,897 Shares of Charles Schwab (NYSE:SCHW) Stock

The Charles Schwab Corporation (NYSE:SCHW) insider Nigel Murtagh sold 1,897 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $109.00, for a total value of $206,773.00. Following the completion of the sale, the insider owned 57,972 shares of the company’s stock, valued at $6,318,948. The trade was a 3.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Charles Schwab Price Performance

NYSE:SCHW traded up $0.35 on Monday, reaching $107.95. 6,748,893 shares of the company’s stock traded hands, compared to its average volume of 8,412,359. The stock has a 50-day simple moving average of $97.67 and a 200-day simple moving average of $95.65. The Charles Schwab Corporation has a 12 month low of $83.96 and a 12 month high of $109.32. The firm has a market cap of $187.74 billion, a PE ratio of 19.63, a P/E/G ratio of 0.82 and a beta of 0.76. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.48.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.56 by $0.06. Charles Schwab had a return on equity of 24.73% and a net margin of 38.79%.The firm had revenue of $7.07 billion during the quarter, compared to analyst estimates of $6.90 billion. During the same quarter in the prior year, the company posted $1.14 earnings per share. The business’s quarterly revenue was up 20.9% compared to the same quarter last year. Equities research analysts forecast that The Charles Schwab Corporation will post 6.46 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.28 dividend on an annualized basis and a yield of 1.2%. Charles Schwab’s payout ratio is currently 23.27%.

Institutional Trading of Charles Schwab

Several hedge funds have recently modified their holdings of the company. Brighton Jones LLC grew its position in Charles Schwab by 380.5% in the fourth quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock worth $1,794,000 after acquiring an additional 19,195 shares in the last quarter. Sivia Capital Partners LLC lifted its stake in Charles Schwab by 21.6% in the second quarter. Sivia Capital Partners LLC now owns 4,553 shares of the financial services provider’s stock worth $415,000 after purchasing an additional 809 shares during the last quarter. United Bank boosted its position in shares of Charles Schwab by 7.1% during the second quarter. United Bank now owns 16,053 shares of the financial services provider’s stock valued at $1,465,000 after buying an additional 1,070 shares during the period. Nebula Research & Development LLC bought a new position in shares of Charles Schwab during the second quarter valued at approximately $552,000. Finally, Main Street Financial Solutions LLC grew its stake in shares of Charles Schwab by 4.7% during the second quarter. Main Street Financial Solutions LLC now owns 6,828 shares of the financial services provider’s stock valued at $623,000 after buying an additional 305 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SCHW has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Charles Schwab from $128.00 to $131.00 and gave the company an “overweight” rating in a report on Friday, April 17th. UBS Group set a $135.00 target price on shares of Charles Schwab in a report on Monday, August 3rd. TD Cowen upped their target price on shares of Charles Schwab from $108.00 to $109.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. BMO Capital Markets cut shares of Charles Schwab from an “outperform” rating to a “market perform” rating and set a $105.00 target price for the company. in a research note on Monday, July 20th. Finally, Zacks Research upgraded shares of Charles Schwab from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $121.17.

About Charles Schwab

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.