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

Key Points

• Charles Schwab insider Nigel Murtagh sold 24,778 shares at an average price of $109.01, generating approximately $2.70 million. The transaction, conducted under a pre-arranged Rule 10b5-1 plan, reduced his ownership by 29.94%.
• Schwab reported quarterly EPS of $1.62, exceeding estimates of $1.56, while revenue rose 20.9% year over year to $7.07 billion. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $121.17.
• The company declared a quarterly dividend of $0.32 per share, equivalent to $1.28 annually and a 1.2% yield; the dividend is payable August 28 to shareholders of record August 14.

The Charles Schwab Corporation (NYSE:SCHW - Get Free Report) insider Nigel Murtagh sold 24,778 shares of the firm's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $109.01, for a total value of $2,701,049.78. Following the transaction, the insider owned 57,972 shares in the company, valued at $6,319,527.72. This trade represents a 29.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Charles Schwab Stock Performance

SCHW stock traded up $0.35 during trading on Monday, hitting $107.95. 6,748,893 shares of the company's stock traded hands, compared to its average volume of 8,412,359. The stock has a market capitalization 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 Charles Schwab Corporation has a 52 week low of $83.96 and a 52 week high of $109.32. The stock has a fifty day moving average price of $97.67 and a two-hundred day moving average price of $95.65. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.48.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.62 EPS for the quarter, beating the consensus estimate of $1.56 by $0.06. The business had revenue of $7.07 billion during the quarter, compared to analyst estimates of $6.90 billion. Charles Schwab had a net margin of 38.79% and a return on equity of 24.73%. The company's quarterly revenue was up 20.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.14 EPS. As a group, equities analysts anticipate that The Charles Schwab Corporation will post 6.46 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be issued 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 is 23.27%.

Analysts Set New Price Targets

A number of research analysts recently commented on SCHW shares. Citigroup restated a "market outperform" rating on shares of Charles Schwab in a research note on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Charles Schwab in a report on Wednesday, July 22nd. Barclays increased their price objective on shares of Charles Schwab from $122.00 to $125.00 and gave the stock an "overweight" rating in a report on Wednesday, July 22nd. Morgan Stanley upped their target price on shares of Charles Schwab from $133.00 to $136.00 and gave the stock an "overweight" rating in a research report on Monday, July 27th. Finally, Zacks Research raised Charles Schwab from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 9th. Two equities 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 issued a Sell rating to the company. According to data from MarketBeat, Charles Schwab presently has a consensus rating of "Moderate Buy" and a consensus target price of $121.17.

Institutional Trading of Charles Schwab

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dogwood Wealth Management LLC lifted its position in Charles Schwab by 99.2% in the fourth quarter. Dogwood Wealth Management LLC now owns 247 shares of the financial services provider's stock worth $25,000 after purchasing an additional 123 shares during the period. Optima Capital LLC bought a new stake in shares of Charles Schwab in the 4th quarter worth $30,000. Scarborough Advisors LLC acquired a new stake in shares of Charles Schwab in the first quarter valued at $29,000. McIlrath & Eck LLC boosted its stake in Charles Schwab by 143.2% during the fourth quarter. McIlrath & Eck LLC now owns 321 shares of the financial services provider's stock valued at $32,000 after buying an additional 189 shares in the last quarter. Finally, Main Street Group LTD acquired a new position in Charles Schwab during the first quarter worth about $33,000. 84.38% of the stock is currently owned by institutional investors.

Charles Schwab Company Profile

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.

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