Walter W. Bettinger Sells 464,629 Shares of The Charles Schwab Co. (NYSE:SCHW) Stock

The Charles Schwab Co. (NYSE:SCHW) Chairman Walter W. Bettinger sold 464,629 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total value of $38,057,761.39. Following the sale, the chairman now directly owns 827,377 shares in the company, valued at $67,770,450.07. This represents a 35.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Charles Schwab Stock Down 1.5 %

Shares of NYSE:SCHW opened at $80.32 on Friday. The firm has a market cap of $142.94 billion, a P/E ratio of 26.86, a P/E/G ratio of 1.02 and a beta of 0.99. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $84.50. The business has a fifty day simple moving average of $78.03 and a 200 day simple moving average of $72.35.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.11. The business had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. Charles Schwab’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period last year, the company earned $0.68 EPS. Analysts predict that The Charles Schwab Co. will post 4.18 earnings per share for the current year.

Charles Schwab Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a dividend of $0.27 per share. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 1.34%. The ex-dividend date is Friday, February 14th. Charles Schwab’s dividend payout ratio (DPR) is currently 33.44%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Washington Trust Advisors Inc. raised its position in shares of Charles Schwab by 62.6% in the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 149 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Charles Schwab in the 3rd quarter worth about $25,000. Prospera Private Wealth LLC bought a new position in shares of Charles Schwab in the 3rd quarter worth about $31,000. Hazlett Burt & Watson Inc. bought a new position in shares of Charles Schwab in the 3rd quarter worth about $33,000. Finally, Planning Capital Management Corp bought a new position in shares of Charles Schwab in the 3rd quarter worth about $33,000. 84.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SCHW has been the topic of a number of analyst reports. JMP Securities reissued a “market outperform” rating and set a $94.00 price target (up previously from $84.00) on shares of Charles Schwab in a research report on Monday, December 9th. Piper Sandler increased their price target on Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Barclays increased their price target on Charles Schwab from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Wells Fargo & Company raised Charles Schwab from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $89.00 to $93.00 in a report on Wednesday, January 22nd. Finally, Morgan Stanley raised their target price on Charles Schwab from $84.00 to $91.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Charles Schwab has an average rating of “Hold” and a consensus target price of $84.56.

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.