Charles Schwab (NYSE:SCHW) Shares Down 1% on Insider Selling

The Charles Schwab Co. (NYSE:SCHW)’s stock price dropped 1% during trading on Thursday after an insider sold shares in the company. The company traded as low as $74.00 and last traded at $74.43. Approximately 1,174,740 shares changed hands during trading, a decline of 85% from the average daily volume of 7,692,344 shares. The stock had previously closed at $75.19.

Specifically, insider Jonathan M. Craig sold 4,977 shares of Charles Schwab stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $70.01, for a total transaction of $348,439.77. Following the completion of the transaction, the insider now owns 81,446 shares in the company, valued at $5,702,034.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Charles Schwab news, Chairman Charles R. Schwab sold 89,275 shares of the business’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $74.62, for a total transaction of $6,661,700.50. Following the completion of the sale, the chairman now owns 30,641,981 shares of the company’s stock, valued at $2,286,504,622.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan M. Craig sold 4,977 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $70.01, for a total value of $348,439.77. Following the sale, the insider now directly owns 81,446 shares of the company’s stock, valued at approximately $5,702,034.46. The disclosure for this sale can be found here. In the last three months, insiders have sold 389,167 shares of company stock worth $26,987,035. 6.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Morgan Stanley boosted their target price on Charles Schwab from $65.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Bank of America upped their target price on Charles Schwab from $68.00 to $70.00 and gave the company an “underperform” rating in a research note on Tuesday, April 16th. StockNews.com raised Charles Schwab from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. JMP Securities reaffirmed a “market outperform” rating and set a $80.00 target price on shares of Charles Schwab in a research note on Tuesday, April 16th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Charles Schwab from $75.00 to $77.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $74.47.

Charles Schwab Stock Performance

The firm has a fifty day moving average price of $69.27 and a 200 day moving average price of $63.60. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.43 and a current ratio of 0.43. The stock has a market cap of $132.12 billion, a PE ratio of 31.14, a price-to-earnings-growth ratio of 1.10 and a beta of 1.01.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.34%. Charles Schwab’s dividend payout ratio is presently 41.84%.

Hedge Funds Weigh In On Charles Schwab

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tributary Capital Management LLC purchased a new position in shares of Charles Schwab during the 1st quarter valued at about $31,000. Sugarloaf Wealth Management LLC raised its stake in shares of Charles Schwab by 60.0% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock valued at $30,000 after buying an additional 165 shares during the last quarter. Frazier Financial Advisors LLC purchased a new position in shares of Charles Schwab during the 4th quarter valued at about $30,000. Wetzel Investment Advisors Inc. purchased a new position in shares of Charles Schwab during the 4th quarter valued at about $31,000. Finally, Hall Laurie J Trustee acquired a new stake in shares of Charles Schwab during the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

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.