Insider Selling: Charles Schwab (NYSE:SCHW) Insider Sells $2,701,049.78 in Stock

The Charles Schwab Corporation (NYSE:SCHW) insider Nigel Murtagh sold 24,778 shares of Charles Schwab stock in a transaction on Monday, August 10th. The stock was sold at an average price of $109.01, for a total transaction of $2,701,049.78. Following the sale, the insider directly owned 57,972 shares of the company’s stock, valued at $6,319,527.72. This represents a 29.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Charles Schwab Stock Up 1.5%

SCHW opened at $109.28 on Thursday. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.48. The business’s fifty day simple moving average is $98.52 and its 200 day simple moving average is $95.73. The Charles Schwab Corporation has a 52 week low of $83.96 and a 52 week high of $109.66. The stock has a market cap of $188.98 billion, a PE ratio of 19.87, a P/E/G ratio of 0.82 and a beta of 0.76.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.62 EPS for the quarter, beating the consensus estimate of $1.56 by $0.06. The firm had revenue of $7.07 billion for the quarter, compared to analyst estimates of $6.90 billion. Charles Schwab had a return on equity of 24.73% and a net margin of 38.79%.The company’s revenue was up 20.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.14 EPS. As a group, research analysts expect that The Charles Schwab Corporation will post 6.46 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on SCHW. Piper Sandler set a $118.00 price objective on shares of Charles Schwab in a research note on Tuesday, July 21st. Raymond James Financial reissued an “outperform” rating and issued a $145.00 price target on shares of Charles Schwab in a research note on Wednesday, July 22nd. Weiss Ratings restated a “buy (b-)” rating on shares of Charles Schwab in a research report on Thursday, June 18th. Citigroup reaffirmed a “market outperform” rating on shares of Charles Schwab in a research note on Wednesday, July 22nd. Finally, UBS Group set a $135.00 target price on Charles Schwab in a research note on Monday, August 3rd. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $121.17.

Institutional Investors Weigh In On Charles Schwab

A number of large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in shares of Charles Schwab by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 37,667,640 shares of the financial services provider’s stock worth $3,747,646,000 after buying an additional 98,242 shares during the last quarter. Juno Financial Group LLC bought a new position in shares of Charles Schwab during the fourth quarter valued at approximately $2,591,000. Swiss Life Asset Management Ltd lifted its stake in Charles Schwab by 4.2% in the fourth quarter. Swiss Life Asset Management Ltd now owns 407,179 shares of the financial services provider’s stock worth $40,681,000 after acquiring an additional 16,482 shares during the period. Busey Bank lifted its stake in Charles Schwab by 15.5% in the fourth quarter. Busey Bank now owns 258,962 shares of the financial services provider’s stock worth $25,873,000 after acquiring an additional 34,745 shares during the period. Finally, Directional Asset Management bought a new stake in Charles Schwab in the fourth quarter valued at $1,409,000. 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.