Carolyn Schwab-Pomerantz Sells 12,320 Shares of The Charles Schwab Co. (NYSE:SCHW) Stock

The Charles Schwab Co. (NYSE:SCHW) Director Carolyn Schwab-Pomerantz sold 12,320 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $65.10, for a total transaction of $802,032.00. Following the completion of the sale, the director now directly owns 562,129 shares of the company’s stock, valued at $36,594,597.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, July 19th, Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock. The stock was sold at an average price of $61.96, for a total transaction of $557,640.00.
• On Thursday, June 20th, Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock. The stock was sold at an average price of $72.49, for a total transaction of $652,410.00.

Charles Schwab Price Performance

NYSE SCHW traded up $0.03 during mid-day trading on Monday, hitting $65.58. The stock had a trading volume of 4,258,727 shares, compared to its average volume of 8,001,281. The firm’s 50 day moving average is $68.97 and its 200 day moving average is $70.05. The Charles Schwab Co. has a twelve month low of $48.66 and a twelve month high of $79.49. 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 stock has a market capitalization of $116.63 billion, a price-to-earnings ratio of 27.44, a PEG ratio of 1.23 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.68 billion. During the same period last year, the company earned $0.75 EPS. The company’s revenue for the quarter was up .7% on a year-over-year basis. Equities research analysts forecast that The Charles Schwab Co. will post 3.06 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, August 23rd. Shareholders of record on Friday, August 9th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Friday, August 9th. Charles Schwab’s dividend payout ratio (DPR) is presently 41.84%.

Institutional Trading of Charles Schwab

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Morningstar Investment Services LLC increased its position in shares of Charles Schwab by 98.0% during the 4th quarter. Morningstar Investment Services LLC now owns 4,691,362 shares of the financial services provider’s stock worth $326,284,000 after purchasing an additional 2,322,156 shares during the last quarter. Brown Advisory Inc. boosted its holdings in shares of Charles Schwab by 24.3% in the fourth quarter. Brown Advisory Inc. now owns 4,393,223 shares of the financial services provider’s stock valued at $302,254,000 after acquiring an additional 857,734 shares during the period. M&G Plc purchased a new stake in shares of Charles Schwab during the first quarter worth approximately $11,452,000. Retirement Systems of Alabama raised its stake in shares of Charles Schwab by 13.0% during the fourth quarter. Retirement Systems of Alabama now owns 1,329,388 shares of the financial services provider’s stock worth $91,462,000 after purchasing an additional 152,967 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in Charles Schwab by 19.7% in the fourth quarter. Franklin Resources Inc. now owns 9,472,698 shares of the financial services provider’s stock worth $651,722,000 after acquiring an additional 1,558,975 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SCHW shares. Keefe, Bruyette & Woods upgraded shares of Charles Schwab from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $76.00 to $84.00 in a report on Monday, July 8th. Piper Sandler downgraded shares of Charles Schwab from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $80.00 to $64.00 in a report on Monday, July 29th. Morgan Stanley cut their price target on shares of Charles Schwab from $71.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday. Jefferies Financial Group increased their price target on shares of Charles Schwab from $85.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, July 8th. Finally, TD Cowen reiterated a “hold” rating and issued a $71.00 price target (down previously from $88.00) on shares of Charles Schwab in a report on Wednesday, July 17th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Charles Schwab presently has a consensus rating of “Hold” and an average price target of $74.27.

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 in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.