Insider Selling: The Charles Schwab Co. (NYSE:SCHW) Chairman Sells $6,661,700.50 in Stock

The Charles Schwab Co. (NYSE:SCHW) Chairman Charles R. Schwab sold 89,275 shares of Charles Schwab stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $74.62, for a total value of $6,661,700.50. Following the completion of the transaction, the chairman now owns 30,641,981 shares in the company, valued at $2,286,504,622.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Charles Schwab Price Performance

NYSE SCHW opened at $74.99 on Friday. The Charles Schwab Co. has a twelve month low of $45.65 and a twelve month high of $75.55. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.43 and a current ratio of 0.43. The stock has a market capitalization of $133.19 billion, a PE ratio of 31.38, a P/E/G ratio of 1.10 and a beta of 1.01. The stock has a 50-day simple moving average of $69.68 and a 200 day simple moving average of $63.84.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.33%. Charles Schwab’s dividend payout ratio is presently 41.84%.

Hedge Funds Weigh In On Charles Schwab

Large investors have recently made changes to their positions in the business. Capital Investment Advisors LLC increased its stake in Charles Schwab by 5.1% during the third quarter. Capital Investment Advisors LLC now owns 5,239 shares of the financial services provider’s stock valued at $288,000 after acquiring an additional 256 shares during the period. Cedar Brook Financial Partners LLC increased its stake in Charles Schwab by 10.8% during the third quarter. Cedar Brook Financial Partners LLC now owns 4,128 shares of the financial services provider’s stock valued at $227,000 after acquiring an additional 403 shares during the period. GHP Investment Advisors Inc. increased its stake in Charles Schwab by 0.6% during the third quarter. GHP Investment Advisors Inc. now owns 61,627 shares of the financial services provider’s stock valued at $3,163,000 after acquiring an additional 350 shares during the period. Meridian Wealth Management LLC increased its stake in Charles Schwab by 109.3% during the third quarter. Meridian Wealth Management LLC now owns 13,470 shares of the financial services provider’s stock valued at $739,000 after acquiring an additional 7,034 shares during the period. Finally, Riverview Trust Co increased its stake in Charles Schwab by 173.1% during the third quarter. Riverview Trust Co now owns 1,931 shares of the financial services provider’s stock valued at $106,000 after acquiring an additional 1,224 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SCHW. Piper Sandler lifted their target price on Charles Schwab from $75.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Bank of America lifted their price target on Charles Schwab from $68.00 to $70.00 and gave the company an “underperform” rating in a report on Tuesday, April 16th. Raymond James lowered their price target on Charles Schwab from $78.00 to $75.00 and set an “outperform” rating on the stock in a report on Thursday, January 18th. Keefe, Bruyette & Woods lifted their price target on Charles Schwab from $75.00 to $76.00 and gave the company a “market perform” rating in a report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. lifted their price target on Charles Schwab from $86.00 to $89.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Charles Schwab currently has an average rating of “Hold” and an average price target of $74.47.

About Charles Schwab

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.