Charles Schwab (NYSE:SCHW) Shares Down 0.3% After Insider Selling

The Charles Schwab Co. (NYSE:SCHW)’s share price was down 0.3% during mid-day trading on Friday after an insider sold shares in the company. The stock traded as low as $74.52 and last traded at $74.68. Approximately 1,552,065 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 7,679,373 shares. The stock had previously closed at $74.89.

Specifically, General Counsel Peter J. Morgan III sold 24,520 shares of the business’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $72.23, for a total transaction of $1,771,079.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, General Counsel Peter J. Morgan III sold 24,520 shares of the company’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $72.23, for a total value of $1,771,079.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Peter B. Crawford sold 5,481 shares of the company’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $75.51, for a total value of $413,870.31. Following the completion of the sale, the chief financial officer now directly owns 60,567 shares of the company’s stock, valued at approximately $4,573,414.17. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 394,648 shares of company stock valued at $27,400,905. Company insiders own 6.60% of the company’s stock.

Wall Street Analyst Weigh In

SCHW has been the subject of several analyst reports. Raymond James decreased their target price on Charles Schwab from $78.00 to $75.00 and set an “outperform” rating for the company in a research report on Thursday, January 18th. Deutsche Bank Aktiengesellschaft increased their price target on Charles Schwab from $75.00 to $77.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Piper Sandler increased their price target on Charles Schwab from $75.00 to $78.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Keefe, Bruyette & Woods increased 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, Citigroup increased their price target on Charles Schwab from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $74.47.

Charles Schwab Price Performance

The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.82. The company has a 50 day simple moving average of $69.68 and a 200-day simple moving average of $63.92. The stock has a market cap of $133.19 billion, a price-to-earnings ratio of 31.38, a PEG ratio of 1.10 and a beta of 1.01.

Charles Schwab Announces Dividend

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

Institutional Trading of Charles Schwab

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Sweet Financial Partners LLC raised its position in shares of Charles Schwab by 3.5% during the 1st quarter. Sweet Financial Partners LLC now owns 4,430 shares of the financial services provider’s stock worth $320,000 after purchasing an additional 150 shares during the period. Ironwood Financial llc raised its position in shares of Charles Schwab by 1.6% during the 1st quarter. Ironwood Financial llc now owns 10,186 shares of the financial services provider’s stock worth $737,000 after purchasing an additional 160 shares during the period. Courier Capital LLC increased its position in Charles Schwab by 0.4% in the 4th quarter. Courier Capital LLC now owns 45,539 shares of the financial services provider’s stock valued at $3,133,000 after acquiring an additional 161 shares during the period. Sugarloaf Wealth Management LLC increased its position in Charles Schwab by 60.0% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 165 shares during the period. Finally, Sculati Wealth Management LLC increased its position in Charles Schwab by 0.4% in the 4th quarter. Sculati Wealth Management LLC now owns 42,971 shares of the financial services provider’s stock valued at $2,956,000 after acquiring an additional 165 shares during the period. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Charles Schwab Company Profile

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.