Charles Schwab (NYSE:SCHW) Stock Price Down 0.5% After Insider Selling

The Charles Schwab Co. (NYSE:SCHW)’s share price was down 0.5% during mid-day trading on Tuesday following insider selling activity. The company traded as low as $73.62 and last traded at $74.17. Approximately 1,761,092 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 7,633,020 shares. The stock had previously closed at $74.56.

Specifically, CFO Peter B. Crawford sold 8,000 shares of Charles Schwab stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $64.76, for a total transaction of $518,080.00. Following the completion of the transaction, the chief financial officer now directly owns 29,611 shares in the company, valued at $1,917,608.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Chairman Charles R. Schwab sold 59,906 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $74.78, for a total transaction of $4,479,770.68. Following the sale, the chairman now directly owns 61,038,701 shares of the company’s stock, valued at approximately $4,564,474,060.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Peter B. Crawford sold 8,000 shares of Charles Schwab stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $64.76, for a total transaction of $518,080.00. Following the completion of the transaction, the chief financial officer now directly owns 29,611 shares of the company’s stock, valued at $1,917,608.36. The disclosure for this sale can be found here. Insiders sold a total of 514,459 shares of company stock valued at $36,371,155 in the last three months. Company insiders own 6.60% of the company’s stock.

Wall Street Analysts Forecast Growth

SCHW has been the subject of a number of research analyst reports. The Goldman Sachs Group reissued a “neutral” rating and issued a $71.00 target price (up previously from $70.00) on shares of Charles Schwab in a report on Wednesday, January 3rd. Morgan Stanley lifted their price target on shares of Charles Schwab from $65.00 to $71.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Piper Sandler upped their price target on Charles Schwab from $75.00 to $78.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. JMP Securities restated 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 increased their price objective on shares of Charles Schwab from $75.00 to $77.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Charles Schwab has an average rating of “Hold” and a consensus target price of $74.47.

Charles Schwab Stock Up 0.8 %

The company has a market capitalization of $132.39 billion, a P/E ratio of 31.19, a PEG ratio of 1.08 and a beta of 0.98. The company has a 50 day simple moving average of $70.30 and a two-hundred day simple moving average of $64.40. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.82.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be given a $0.25 dividend. The ex-dividend date is Thursday, May 9th. This represents a $1.00 dividend on an annualized basis and a yield of 1.34%. Charles Schwab’s dividend payout ratio is presently 41.84%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Tokio Marine Asset Management Co. Ltd. raised its position in Charles Schwab by 9.4% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 38,279 shares of the financial services provider’s stock worth $2,769,000 after purchasing an additional 3,285 shares during the period. Main Street Research LLC boosted its stake in shares of Charles Schwab by 5.5% during the first quarter. Main Street Research LLC now owns 391,354 shares of the financial services provider’s stock valued at $28,311,000 after purchasing an additional 20,441 shares during the period. Palisade Asset Management LLC increased its stake in Charles Schwab by 0.8% in the 1st quarter. Palisade Asset Management LLC now owns 26,295 shares of the financial services provider’s stock worth $1,902,000 after buying an additional 210 shares during the period. PDS Planning Inc boosted its position in Charles Schwab by 4.7% in the 1st quarter. PDS Planning Inc now owns 7,591 shares of the financial services provider’s stock valued at $549,000 after buying an additional 338 shares during the period. Finally, Kinsale Capital Group Inc. increased its position in shares of Charles Schwab by 22.3% during the first quarter. Kinsale Capital Group Inc. now owns 65,213 shares of the financial services provider’s stock worth $4,718,000 after acquiring an additional 11,896 shares during the period. 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.