Insider Selling: The Charles Schwab Co. (NYSE:SCHW) Insider Sells 3,380 Shares of Stock

The Charles Schwab Co. (NYSE:SCHW) insider Paul V. Woolway sold 3,380 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $77.43, for a total value of $261,713.40. Following the completion of the sale, the insider now owns 45,824 shares in the company, valued at approximately $3,548,152.32. The trade was a 6.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Charles Schwab Stock Up 1.3 %

Shares of Charles Schwab stock opened at $78.67 on Thursday. The Charles Schwab Co. has a 52-week low of $61.01 and a 52-week high of $84.50. The firm’s 50 day moving average price is $79.48 and its 200-day moving average price is $75.69. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The company has a market cap of $142.67 billion, a P/E ratio of 26.31, a PEG ratio of 0.99 and a beta of 0.91.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. The business had revenue of $5.33 billion for the quarter, compared to the consensus estimate of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. During the same period in the prior year, the firm posted $0.68 earnings per share. The business’s quarterly revenue was up 19.5% on a year-over-year basis. On average, sell-side analysts predict that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a dividend of $0.27 per share. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.37%. Charles Schwab’s payout ratio is presently 36.12%.

Hedge Funds Weigh In On Charles Schwab

Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new position in Charles Schwab during the 4th quarter valued at approximately $1,289,544,000. Kovitz Investment Group Partners LLC increased its position in shares of Charles Schwab by 354.5% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 11,005,881 shares of the financial services provider’s stock valued at $814,545,000 after acquiring an additional 8,584,173 shares during the period. FMR LLC raised its stake in Charles Schwab by 69.4% in the 4th quarter. FMR LLC now owns 9,700,013 shares of the financial services provider’s stock worth $717,898,000 after acquiring an additional 3,974,940 shares during the last quarter. Marshall Wace LLP lifted its position in Charles Schwab by 742.0% during the 4th quarter. Marshall Wace LLP now owns 4,181,202 shares of the financial services provider’s stock worth $309,451,000 after acquiring an additional 3,684,640 shares during the period. Finally, Primecap Management Co. CA grew its stake in Charles Schwab by 310.3% during the 4th quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider’s stock valued at $314,716,000 after purchasing an additional 3,216,000 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SCHW has been the subject of several research analyst reports. Piper Sandler lifted their target price on Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Truist Financial lifted their price objective on shares of Charles Schwab from $90.00 to $91.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. JPMorgan Chase & Co. upped their target price on shares of Charles Schwab from $87.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Wells Fargo & Company raised shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $89.00 to $93.00 in a research note on Wednesday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $87.28.

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.