Charles Schwab (NYSE:SCHW) Insider Nigel Murtagh Sells 24,778 Shares of Stock

The Charles Schwab Corporation (NYSE:SCHW) insider Nigel Murtagh sold 24,778 shares of Charles Schwab stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $109.01, for a total transaction of $2,701,049.78. Following the completion of the transaction, the insider directly owned 57,972 shares in the company, valued at $6,319,527.72. This represents a 29.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Charles Schwab Price Performance

Shares of NYSE SCHW traded up $0.35 during midday trading on Monday, reaching $107.95. The company’s stock had a trading volume of 6,748,893 shares, compared to its average volume of 8,412,359. The Charles Schwab Corporation has a one year low of $83.96 and a one year high of $109.32. The company has a market cap of $187.74 billion, a price-to-earnings ratio of 19.63, a price-to-earnings-growth ratio of 0.82 and a beta of 0.76. The company has a 50 day moving average price of $97.67 and a 200 day moving average price of $95.65. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.48.

Charles Schwab (NYSE:SCHW) last issued its earnings results 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. The firm had revenue of $7.07 billion during the quarter, compared to analysts’ expectations of $6.90 billion. Charles Schwab had a net margin of 38.79% and a return on equity of 24.73%. The firm’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same period last year, the firm posted $1.14 earnings per share. On average, equities research analysts expect that The Charles Schwab Corporation will post 6.46 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.28 annualized dividend and a dividend yield of 1.2%. Charles Schwab’s dividend payout ratio (DPR) is currently 23.27%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SCHW shares. Wolfe Research reaffirmed an “outperform” rating and set a $127.00 target price on shares of Charles Schwab in a research report on Tuesday, July 21st. Citigroup reiterated a “market outperform” rating on shares of Charles Schwab in a research report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Charles Schwab in a report on Wednesday, July 22nd. Zacks Research raised shares of Charles Schwab from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 9th. Finally, UBS Group set a $135.00 target price on shares of Charles Schwab in a report on Monday, August 3rd. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Charles Schwab currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.17.

Institutional Trading of Charles Schwab

A number of hedge funds have recently modified their holdings of SCHW. NewEdge Wealth LLC acquired a new position in Charles Schwab during the second quarter valued at $247,000. Flossbach Von Storch SE acquired a new stake in Charles Schwab during the 2nd quarter worth about $987,930,000. Empirical Asset Management LLC purchased a new position in Charles Schwab during the 2nd quarter valued at about $344,000. Great Lakes Advisors LLC acquired a new position in shares of Charles Schwab in the 2nd quarter valued at about $7,200,000. Finally, Danske Bank A S purchased a new stake in shares of Charles Schwab in the second quarter worth approximately $145,950,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

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.