Insider Selling: Charles Schwab (NYSE:SCHW) Chairman Sells $8,250,373.08 in Stock

The Charles Schwab Corporation (NYSE:SCHW) Chairman Walter Bettinger sold 74,388 shares of the firm’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $110.91, for a total value of $8,250,373.08. Following the sale, the chairman owned 610,360 shares of the company’s stock, valued at $67,695,027.60. This represents a 10.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Charles Schwab Stock Down 0.2%

Shares of NYSE SCHW traded down $0.20 during midday trading on Monday, reaching $109.96. 6,160,409 shares of the company’s stock were exchanged, compared to its average volume of 7,480,484. The Charles Schwab Corporation has a 52-week low of $83.96 and a 52-week high of $114.53. The stock has a market capitalization of $190.16 billion, a PE ratio of 19.99, a price-to-earnings-growth ratio of 0.83 and a beta of 0.76. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.64 and a current ratio of 0.64. The business’s fifty day moving average price is $103.78 and its two-hundred day moving average price is $96.39.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data 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 return on equity of 24.53% and a net margin of 38.79%.The firm had revenue of $7.07 billion during the quarter, compared to analyst estimates of $6.90 billion. During the same quarter last year, the firm earned $1.14 EPS. Charles Schwab’s quarterly revenue was up 20.9% on a year-over-year basis. Analysts forecast that The Charles Schwab Corporation will post 6.46 EPS for the current year.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, August 14th. Charles Schwab’s dividend payout ratio is 23.27%.

Analyst Ratings Changes

A number of brokerages recently issued reports on SCHW. UBS Group set a $135.00 price target on shares of Charles Schwab in a research note on Monday, August 3rd. Piper Sandler set a $118.00 price objective on shares of Charles Schwab in a research note on Tuesday, July 21st. Weiss Ratings reissued a “buy (b-)” rating on shares of Charles Schwab in a report on Thursday, June 18th. Zacks Research raised shares of Charles Schwab from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 9th. Finally, Argus upped their target price on shares of Charles Schwab from $108.00 to $114.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $121.17.

Institutional Trading of Charles Schwab

Several hedge funds have recently made changes to their positions in the stock. Dogwood Wealth Management LLC boosted its position in Charles Schwab by 99.2% during the 4th quarter. Dogwood Wealth Management LLC now owns 247 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 123 shares during the period. Compass Financial Management LLC acquired a new stake in Charles Schwab in the second quarter worth $27,000. Scarborough Advisors LLC bought a new stake in Charles Schwab in the first quarter valued at $29,000. McIlrath & Eck LLC boosted its holdings in shares of Charles Schwab by 143.2% during the fourth quarter. McIlrath & Eck LLC now owns 321 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 189 shares during the period. Finally, Main Street Group LTD acquired a new position in shares of Charles Schwab during the first quarter valued at $33,000. Institutional investors own 84.38% of the company’s stock.

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.