The Charles Schwab Co. (NYSE:SCHW) COO Joseph R. Martinetto Sells 43,000 Shares of Stock

The Charles Schwab Co. (NYSE:SCHW) COO Joseph R. Martinetto sold 43,000 shares of the firm’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $70.83, for a total transaction of $3,045,690.00. Following the completion of the transaction, the chief operating officer now directly owns 41,414 shares of the company’s stock, valued at $2,933,353.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Charles Schwab Stock Up 0.6 %

SCHW opened at $72.92 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 Charles Schwab Co. has a fifty-two week low of $45.65 and a fifty-two week high of $73.88. The company has a market capitalization of $129.51 billion, a P/E ratio of 30.51, a P/E/G ratio of 1.06 and a beta of 1.01. The stock has a fifty day moving average of $68.38 and a 200-day moving average of $62.89.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. Charles Schwab had a return on equity of 19.86% and a net margin of 26.14%. The company had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $4.49 billion. During the same quarter last year, the business earned $1.07 earnings per share. Charles Schwab’s revenue was down 18.9% on a year-over-year basis. On average, equities analysts expect that The Charles Schwab Co. will post 3.43 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend was Thursday, February 8th. Charles Schwab’s payout ratio is currently 41.84%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Investment Research & Advisory Group Inc. increased its position in shares of Charles Schwab by 1.0% in the fourth quarter. Investment Research & Advisory Group Inc. now owns 58,979 shares of the financial services provider’s stock worth $4,058,000 after purchasing an additional 607 shares during the period. Bamco Inc. NY grew its position in Charles Schwab by 0.5% in the third quarter. Bamco Inc. NY now owns 8,102,475 shares of the financial services provider’s stock valued at $444,826,000 after acquiring an additional 42,588 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Charles Schwab by 43.2% in the third quarter. Nisa Investment Advisors LLC now owns 551,682 shares of the financial services provider’s stock valued at $30,287,000 after acquiring an additional 166,316 shares during the last quarter. Wright Investors Service Inc. grew its position in Charles Schwab by 9.3% in the fourth quarter. Wright Investors Service Inc. now owns 47,164 shares of the financial services provider’s stock valued at $3,245,000 after acquiring an additional 4,001 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Charles Schwab by 22.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 883,379 shares of the financial services provider’s stock valued at $60,776,000 after acquiring an additional 160,719 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Analysts Set New Price Targets

SCHW has been the subject of several analyst reports. The Goldman Sachs Group reissued a “neutral” rating and issued a $71.00 target price (up from $70.00) on shares of Charles Schwab in a research note on Wednesday, January 3rd. Keefe, Bruyette & Woods raised their price target on Charles Schwab from $75.00 to $76.00 and gave the company a “market perform” rating in a report on Tuesday. Citigroup raised their price target on Charles Schwab from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Barclays raised their price target on Charles Schwab from $74.00 to $75.00 and gave the company an “equal weight” rating in a report on Tuesday. Finally, Piper Sandler raised their price target on Charles Schwab from $75.00 to $78.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Three equities research 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $74.47.

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.