Insider Selling: The Charles Schwab Co. (NYSE:SCHW) Chairman Sells 120,000 Shares of Stock

view original post

The Charles Schwab Co. (NYSE:SCHWGet Rating) Chairman Charles R. Schwab sold 120,000 shares of the business’s stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $62.70, for a total value of $7,524,000.00. Following the completion of the sale, the chairman now directly owns 71,083,305 shares in the company, valued at approximately $4,456,923,223.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Charles Schwab Stock Performance

Shares of NYSE SCHW opened at $63.13 on Friday. The business’s 50-day moving average price is $64.23 and its two-hundred day moving average price is $76.88. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.44 and a quick ratio of 0.44. The Charles Schwab Co. has a one year low of $59.35 and a one year high of $96.24. The company has a market capitalization of $114.71 billion, a P/E ratio of 20.77, a price-to-earnings-growth ratio of 0.73 and a beta of 1.10.

Charles Schwab (NYSE:SCHWGet Rating) last released its quarterly earnings results on Monday, July 18th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.06. The company had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.04 billion. Charles Schwab had a return on equity of 15.86% and a net margin of 33.09%. The firm’s revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.70 EPS. Analysts anticipate that The Charles Schwab Co. will post 3.87 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 27th. Stockholders of record on Friday, May 13th were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, May 12th. This represents a $0.80 annualized dividend and a dividend yield of 1.27%. Charles Schwab’s dividend payout ratio (DPR) is presently 26.32%.

Institutional Trading of Charles Schwab

Large investors have recently made changes to their positions in the stock. Steph & Co. bought a new stake in shares of Charles Schwab during the 4th quarter worth about $25,000. SBK Financial Inc. acquired a new position in shares of Charles Schwab during the 4th quarter worth about $25,000. Princeton Global Asset Management LLC lifted its position in shares of Charles Schwab by 104.5% during the 1st quarter. Princeton Global Asset Management LLC now owns 321 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 164 shares during the last quarter. Horan Securities Inc. acquired a new position in shares of Charles Schwab during the 4th quarter worth about $27,000. Finally, Sierra Capital LLC acquired a new position in shares of Charles Schwab during the 4th quarter worth about $28,000. Institutional investors own 87.13% of the company’s stock.

Analyst Ratings Changes

SCHW has been the topic of a number of recent analyst reports. Redburn Partners initiated coverage on Charles Schwab in a research report on Thursday, June 23rd. They set a “neutral” rating on the stock. Piper Sandler cut their target price on Charles Schwab from $110.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, April 22nd. Compass Point raised Charles Schwab from a “neutral” rating to a “buy” rating and set a $98.00 target price on the stock in a research report on Tuesday, April 12th. Citigroup boosted their target price on Charles Schwab from $87.50 to $90.00 and gave the stock a “buy” rating in a research report on Friday, April 22nd. Finally, Jefferies Financial Group lowered their price target on Charles Schwab to $95.00 in a report on Friday, April 22nd. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $91.08.

About Charles Schwab

(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.

See Also

Receive News & Ratings for Charles Schwab Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Charles Schwab and related companies with MarketBeat.com’s FREE daily email newsletter.