Charles Schwab (NYSE:SCHW) Stock Price Down 1.1% on Insider Selling

The Charles Schwab Co. (NYSE:SCHW) shares dropped 1.1% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $73.65 and last traded at $73.72. Approximately 404,362 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 7,339,386 shares. The stock had previously closed at $74.53.

Specifically, CFO Peter B. Crawford sold 5,482 shares of the business’s stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $73.46, for a total value of $402,707.72. Following the completion of the transaction, the chief financial officer now owns 60,567 shares of the company’s stock, valued at approximately $4,449,251.82. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Peter B. Crawford sold 5,482 shares of the company’s stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $73.46, for a total value of $402,707.72. Following the completion of the transaction, the chief financial officer now owns 60,567 shares of the company’s stock, valued at approximately $4,449,251.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bernard J. Clark sold 77,431 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $70.94, for a total value of $5,492,955.14. Following the completion of the transaction, the insider now directly owns 121,666 shares of the company’s stock, valued at approximately $8,630,986.04. The disclosure for this sale can be found here. Insiders sold a total of 658,663 shares of company stock valued at $48,997,146 in the last quarter. 6.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

SCHW has been the subject of a number of analyst reports. Piper Sandler upped their price target on Charles Schwab from $75.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. TD Cowen reduced their price target on Charles Schwab from $92.00 to $88.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. Barclays boosted their price objective on Charles Schwab from $74.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 16th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $76.00 price objective on shares of Charles Schwab in a research note on Monday, June 17th. Finally, JMP Securities reiterated a “market outperform” rating and set a $80.00 price objective on shares of Charles Schwab in a research note on Tuesday, May 28th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $74.65.

Charles Schwab Stock Down 0.8 %

The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.69. The business has a 50-day moving average price of $74.39 and a 200-day moving average price of $69.66. The firm has a market capitalization of $131.36 billion, a PE ratio of 30.92, a price-to-earnings-growth ratio of 1.13 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Monday, April 15th. The financial services provider reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.01. The company had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.71 billion. Charles Schwab had a return on equity of 19.25% and a net margin of 26.14%. Equities research analysts forecast that The Charles Schwab Co. will post 3.25 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were given a $0.25 dividend. The ex-dividend date was Thursday, May 9th. This represents a $1.00 annualized dividend and a yield of 1.35%. Charles Schwab’s payout ratio is 41.84%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Charles Schwab by 0.9% in the first quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider’s stock worth $8,750,473,000 after acquiring an additional 1,042,823 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Charles Schwab by 4.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock worth $5,230,657,000 after purchasing an additional 2,946,327 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Charles Schwab by 4.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 30,994,967 shares of the financial services provider’s stock worth $2,132,454,000 after purchasing an additional 1,219,015 shares in the last quarter. Fisher Asset Management LLC lifted its stake in Charles Schwab by 1.6% during the fourth quarter. Fisher Asset Management LLC now owns 18,627,667 shares of the financial services provider’s stock worth $1,281,584,000 after purchasing an additional 296,317 shares in the last quarter. Finally, Norges Bank acquired a new position in Charles Schwab during the fourth quarter worth $950,192,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

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.