Insider Selling: The Charles Schwab Co. (NYSE:SCHW) Chairman Sells $5,000,649.75 in Stock (2024)

Posted by MarketBeat News on May 11th, 2024

The Charles Schwab Co. (NYSE:SCHW – Get Free Report) Chairman Charles R. Schwab sold 66,225 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $75.51, for a total value of $5,000,649.75. Following the transaction, the chairman now directly owns 60,972,476 shares of the company’s stock, valued at approximately $4,604,031,662.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Charles Schwab Stock Performance

NYSE:SCHW opened at $76.10 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.82. The Charles Schwab Co. has a twelve month low of $46.55 and a twelve month high of $77.05. The stock has a market cap of $135.16 billion, a P/E ratio of 31.84, a price-to-earnings-growth ratio of 1.13 and a beta of 0.98. The firm’s fifty day simple moving average is $71.59 and its 200 day simple moving average is $65.30.

Charles Schwab (NYSE:SCHW – Get Free Report) last announced its earnings results on Monday, April 15th. The financial services provider reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. Charles Schwab had a net margin of 26.14% and a return on equity of 19.86%. The firm had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.71 billion. As a group, research analysts predict that The Charles Schwab Co. will post 3.42 EPS for the current year.

Charles Schwab Announces Dividend

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The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend is Thursday, May 9th. Charles Schwab’s dividend payout ratio is currently 41.84%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Providence Capital Advisors LLC purchased a new position in Charles Schwab during the third quarter valued at $28,000. Sugarloaf Wealth Management LLC lifted its position in Charles Schwab by 60.0% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 165 shares during the period. Frazier Financial Advisors LLC bought a new stake in Charles Schwab during the fourth quarter worth about $30,000. Wetzel Investment Advisors Inc. purchased a new stake in Charles Schwab in the fourth quarter worth about $31,000. Finally, Tributary Capital Management LLC bought a new position in shares of Charles Schwab during the first quarter valued at approximately $31,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Analysts Set New Price Targets

SCHW has been the subject of several research analyst reports. Raymond James dropped their target price on shares of Charles Schwab from $78.00 to $75.00 and set an “outperform” rating for the company in a research report on Thursday, January 18th. JPMorgan Chase & Co. increased their target price on Charles Schwab from $86.00 to $89.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. Bank of America lifted their price target on Charles Schwab from $68.00 to $70.00 and gave the stock an “underperform” rating in a research note on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft increased their price objective on Charles Schwab from $75.00 to $77.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Finally, Piper Sandler boosted their target price on Charles Schwab from $75.00 to $78.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $74.47.

Read Our Latest Analysis on Charles Schwab

Charles Schwab Company Profile

(Get Free Report)

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.