The Charles Schwab Corporation (SCHW) EVP Nigel J. Murtagh Sells 8,000 Shares of Stock

The Charles Schwab Corporation (NYSE:SCHW) EVP Nigel J. Murtagh sold 8,000 shares of the firm’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $45.15, for a total transaction of $361,200.00. Following the transaction, the executive vice president now directly owns 15,622 shares of the company’s stock, valued at approximately $705,333.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of The Charles Schwab Corporation (NYSE:SCHW) opened at 44.84 on Wednesday. The Charles Schwab Corporation has a 1-year low of $30.66 and a 1-year high of $46.21. The firm has a 50-day moving average of $43.53 and a 200 day moving average of $41.48. The company has a market capitalization of $60.04 billion, a P/E ratio of 28.56 and a beta of 1.68.

The Charles Schwab Corporation (NYSE:SCHW) last issued its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.01. The Charles Schwab Corporation had a net margin of 27.30% and a return on equity of 16.07%. The business had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same period in the prior year, the business earned $0.35 EPS. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. On average, equities research analysts expect that The Charles Schwab Corporation will post $1.62 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Friday, November 10th will be issued a $0.08 dividend. The ex-dividend date is Thursday, November 9th. This represents a $0.32 annualized dividend and a yield of 0.71%. The Charles Schwab Corporation’s dividend payout ratio (DPR) is presently 20.51%.

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Hedge funds and other institutional investors have recently modified their holdings of the business. American Century Companies Inc. raised its holdings in The Charles Schwab Corporation by 19.4% in the 2nd quarter. American Century Companies Inc. now owns 4,139,650 shares of the financial services provider’s stock worth $177,839,000 after purchasing an additional 673,011 shares in the last quarter. Principal Financial Group Inc. raised its holdings in The Charles Schwab Corporation by 17.3% in the 2nd quarter. Principal Financial Group Inc. now owns 3,100,144 shares of the financial services provider’s stock worth $133,182,000 after purchasing an additional 457,591 shares in the last quarter. Cubist Systematic Strategies LLC raised its holdings in The Charles Schwab Corporation by 317.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 51,701 shares of the financial services provider’s stock worth $2,221,000 after purchasing an additional 39,321 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its holdings in The Charles Schwab Corporation by 1.6% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,417,577 shares of the financial services provider’s stock worth $103,859,000 after purchasing an additional 38,306 shares in the last quarter. Finally, CIBC World Markets Inc. bought a new position in The Charles Schwab Corporation in the 2nd quarter worth $282,000. Institutional investors and hedge funds own 79.49% of the company’s stock.

Several equities analysts have recently issued reports on SCHW shares. Deutsche Bank AG dropped their price target on shares of The Charles Schwab Corporation from $47.00 to $46.00 and set a “buy” rating for the company in a research note on Tuesday, July 4th. Argus reaffirmed a “buy” rating and set a $48.00 price target (up previously from $46.00) on shares of The Charles Schwab Corporation in a research note on Friday, July 21st. Jefferies Group LLC reaffirmed a “buy” rating and set a $49.00 price target on shares of The Charles Schwab Corporation in a research note on Friday, September 15th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $47.00 price target on shares of The Charles Schwab Corporation in a research note on Friday, September 15th. Finally, BidaskClub raised shares of The Charles Schwab Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, September 26th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $47.07.

About The Charles Schwab Corporation

The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.

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