The Charles Schwab Corporation (NYSE:SCHW) EVP Sells $4,868,528.20 in Stock

The Charles Schwab Corporation (NYSE:SCHW) EVP Joseph R. Martinetto sold 115,642 shares of the stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $42.10, for a total value of $4,868,528.20. Following the completion of the transaction, the executive vice president now directly owns 210,868 shares in the company, valued at $8,877,542.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

The Charles Schwab Corporation (NYSE:SCHW) opened at 40.93 on Wednesday. The firm has a market capitalization of $54.81 billion, a P/E ratio of 27.47 and a beta of 1.63. The Charles Schwab Corporation has a 1-year low of $29.86 and a 1-year high of $44.10. The company has a 50-day moving average price of $42.64 and a 200-day moving average price of $41.01.

The Charles Schwab Corporation (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.39 EPS for the quarter, meeting analysts’ consensus estimates of $0.39. The firm had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.13 billion. The Charles Schwab Corporation had a net margin of 26.73% and a return on equity of 15.41%. The company’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.30 earnings per share. On average, equities research analysts predict that The Charles Schwab Corporation will post $1.61 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Friday, August 11th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date is Wednesday, August 9th. The Charles Schwab Corporation’s dividend payout ratio is currently 21.48%.

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Several analysts recently issued reports on the company. Deutsche Bank AG downgraded The Charles Schwab Corporation from a “buy” rating to a “hold” rating and increased their price target for the company from $40.00 to $43.00 in a report on Tuesday, July 11th. Morgan Stanley reiterated an “overweight” rating and issued a $48.00 price target (up from $45.00) on shares of The Charles Schwab Corporation in a report on Monday, July 10th. Citigroup Inc. assumed coverage on The Charles Schwab Corporation in a report on Thursday, July 13th. They issued a “neutral” rating and a $46.00 price target for the company. Rosenblatt Securities assumed coverage on The Charles Schwab Corporation in a report on Thursday, July 13th. They issued a “neutral” rating and a $46.00 price target for the company. Finally, BidaskClub downgraded The Charles Schwab Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the stock. The Charles Schwab Corporation has a consensus rating of “Buy” and a consensus target price of $44.00.

A number of hedge funds have recently made changes to their positions in the stock. Quadrature Capital Ltd boosted its stake in shares of The Charles Schwab Corporation by 339.8% in the fourth quarter. Quadrature Capital Ltd now owns 512,425 shares of the financial services provider’s stock worth $20,231,000 after buying an additional 395,924 shares in the last quarter. Wealthfront Inc. boosted its stake in shares of The Charles Schwab Corporation by 6.7% in the fourth quarter. Wealthfront Inc. now owns 28,761 shares of the financial services provider’s stock worth $1,135,000 after buying an additional 1,813 shares in the last quarter. Perigon Wealth Management LLC boosted its stake in shares of The Charles Schwab Corporation by 58.7% in the fourth quarter. Perigon Wealth Management LLC now owns 16,470 shares of the financial services provider’s stock worth $699,000 after buying an additional 6,090 shares in the last quarter. Teachers Advisors LLC boosted its stake in shares of The Charles Schwab Corporation by 9.1% in the fourth quarter. Teachers Advisors LLC now owns 1,806,057 shares of the financial services provider’s stock worth $71,285,000 after buying an additional 151,173 shares in the last quarter. Finally, Kentucky Retirement Systems purchased a new stake in shares of The Charles Schwab Corporation during the fourth quarter worth approximately $3,455,000. Hedge funds and other institutional investors own 79.45% of the company’s stock.

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.