Insider Selling: Charles Schwab (NYSE:SCHW) Insider Sells 2,000 Shares

The Charles Schwab Corporation (NYSE:SCHW) insider Jonathan Beatty sold 2,000 shares of the stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $104.21, for a total transaction of $208,420.00. Following the sale, the insider directly owned 11,738 shares in the company, valued at approximately $1,223,216.98. This represents a 14.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Charles Schwab Trading Up 1.6%

NYSE:SCHW traded up $1.68 on Tuesday, hitting $105.86. 2,646,804 shares of the stock were exchanged, compared to its average volume of 10,851,087. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.62 and a current ratio of 0.62. The stock has a market capitalization of $184.10 billion, a price-to-earnings ratio of 19.25, a P/E/G ratio of 0.83 and a beta of 0.77. The company’s 50-day moving average price is $94.17 and its 200 day moving average price is $95.34. The Charles Schwab Corporation has a 52 week low of $83.96 and a 52 week high of $107.50.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.06. Charles Schwab had a net margin of 38.79% and a return on equity of 24.73%. The business had revenue of $7.07 billion for the quarter, compared to the consensus estimate of $6.90 billion. During the same period last year, the company posted $1.14 EPS. Charles Schwab’s revenue for the quarter was up 20.9% on a year-over-year basis. On average, equities research analysts forecast that The Charles Schwab Corporation will post 6.43 earnings per share for the current year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.28 dividend on an annualized basis and a yield of 1.2%. Charles Schwab’s dividend payout ratio is currently 23.27%.

Analyst Ratings Changes

A number of brokerages recently weighed in on SCHW. Morgan Stanley boosted their price objective on Charles Schwab from $133.00 to $136.00 and gave the stock an “overweight” rating in a research report on Monday. Barclays boosted their target price on shares of Charles Schwab from $122.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. lifted their price target on shares of Charles Schwab from $128.00 to $131.00 and gave the company an “overweight” rating in a research report on Friday, April 17th. Jefferies Financial Group decreased their price target on Charles Schwab from $122.00 to $118.00 and set a “buy” rating for the company in a report on Monday, April 6th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Charles Schwab in a report on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $119.94.

Institutional Trading of Charles Schwab

A number of institutional investors have recently modified their holdings of SCHW. Trust Asset Management LLC boosted its holdings in shares of Charles Schwab by 9.5% during the 2nd quarter. Trust Asset Management LLC now owns 18,377 shares of the financial services provider’s stock valued at $1,696,000 after buying an additional 1,596 shares in the last quarter. Whitener Capital Management Inc. increased its position in Charles Schwab by 17.0% during the 2nd quarter. Whitener Capital Management Inc. now owns 24,877 shares of the financial services provider’s stock valued at $2,295,000 after buying an additional 3,608 shares in the last quarter. Tema ETFs LLC boosted its holdings in Charles Schwab by 10.6% in the second quarter. Tema ETFs LLC now owns 31,695 shares of the financial services provider’s stock worth $2,924,000 after acquiring an additional 3,045 shares in the last quarter. Lederer & Associates Investment Counsel CA bought a new position in shares of Charles Schwab during the second quarter valued at $1,624,000. Finally, Peoples Bank KS raised its position in shares of Charles Schwab by 2.7% in the 2nd quarter. Peoples Bank KS now owns 4,331 shares of the financial services provider’s stock worth $400,000 after purchasing an additional 113 shares during the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

About Charles Schwab

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.