The Charles Schwab Co. (NYSE:SCHW – Get Rating) announced a quarterly dividend on Wednesday, April 27th, Zacks reports. Shareholders of record on Friday, May 13th will be paid a dividend of 0.20 per share by the financial services provider on Friday, May 27th. This represents a $0.80 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Thursday, May 12th.
Charles Schwab has increased its dividend payment by an average of 16.1% annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Charles Schwab has a dividend payout ratio of 15.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Charles Schwab to earn $5.31 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 15.1%.
Shares of SCHW opened at $68.75 on Friday. The stock has a market capitalization of $124.85 billion, a P/E ratio of 25.04, a PEG ratio of 0.75 and a beta of 1.00. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.41. The firm has a fifty day simple moving average of $82.01 and a two-hundred day simple moving average of $83.91. Charles Schwab has a twelve month low of $65.73 and a twelve month high of $96.24.
Several brokerages have commented on SCHW. UBS Group decreased their price objective on shares of Charles Schwab from $80.00 to $72.00 in a report on Sunday, April 24th. Morgan Stanley decreased their price objective on shares of Charles Schwab from $132.00 to $123.00 and set an “overweight” rating for the company in a report on Monday. Zacks Investment Research lowered shares of Charles Schwab from a “buy” rating to a “hold” rating and set a $91.00 price objective for the company. in a report on Monday, February 21st. Piper Sandler decreased their price objective on shares of Charles Schwab from $110.00 to $100.00 and set an “overweight” rating for the company in a report on Friday, April 22nd. Finally, Argus increased their price target on shares of Charles Schwab from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, January 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $94.25.
In other news, President Richard A. Wurster sold 61,423 shares of the firm’s stock in a transaction dated Wednesday, February 9th. The shares were sold at an average price of $94.62, for a total transaction of $5,811,844.26. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Charles R. Schwab sold 156,860 shares of the firm’s stock in a transaction dated Tuesday, February 22nd. The shares were sold at an average price of $85.93, for a total transaction of $13,478,979.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 574,625 shares of company stock valued at $51,649,366. 7.50% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Silvercrest Asset Management Group LLC boosted its holdings in shares of Charles Schwab by 4.4% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 3,014 shares of the financial services provider’s stock worth $253,000 after buying an additional 127 shares during the last quarter. Horizon Investments LLC raised its stake in Charles Schwab by 4.8% during the 4th quarter. Horizon Investments LLC now owns 11,414 shares of the financial services provider’s stock worth $958,000 after acquiring an additional 526 shares during the period. EverSource Wealth Advisors LLC bought a new stake in Charles Schwab during the 4th quarter worth approximately $99,000. EP Wealth Advisors LLC raised its stake in Charles Schwab by 8.9% during the 4th quarter. EP Wealth Advisors LLC now owns 14,720 shares of the financial services provider’s stock worth $1,238,000 after acquiring an additional 1,201 shares during the period. Finally, Kingsview Wealth Management LLC raised its stake in Charles Schwab by 23.5% during the 4th quarter. Kingsview Wealth Management LLC now owns 9,090 shares of the financial services provider’s stock worth $765,000 after acquiring an additional 1,727 shares during the period. 71.58% of the stock is currently owned by hedge funds and other institutional investors.
Charles Schwab Company Profile (Get Rating)
The Charles Schwab Corporation, together with its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates in two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage, investment advisory, banking and trust, retirement plan, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor and mutual fund clearing services, as well as compliance solutions.
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