Insider Buying: The Charles Schwab Co. (NYSE:SCHW) CEO Acquires 25,000 Shares of Stock

The Charles Schwab Co. (NYSE:SCHW) CEO Walter W. Bettinger acquired 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The shares were bought at an average price of $66.26 per share, with a total value of $1,656,500.00. Following the completion of the purchase, the chief executive officer now directly owns 827,377 shares in the company, valued at $54,822,000.02. The acquisition was disclosed in a document filed with the SEC, which is available through this link.

Charles Schwab Price Performance

Shares of NYSE:SCHW opened at $62.08 on Monday. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.69. The Charles Schwab Co. has a twelve month low of $48.66 and a twelve month high of $79.49. The company’s 50 day moving average is $73.30 and its 200 day moving average is $70.11. The company has a market cap of $110.33 billion, a PE ratio of 25.98, a price-to-earnings-growth ratio of 1.05 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.01. The firm had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.68 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.65%. The firm’s revenue was up .7% compared to the same quarter last year. During the same quarter last year, the company posted $0.75 earnings per share. On average, sell-side analysts forecast that The Charles Schwab Co. will post 3.09 EPS for the current year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.61%. Charles Schwab’s payout ratio is 41.84%.

Institutional Trading of Charles Schwab

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Country Trust Bank acquired a new stake in shares of Charles Schwab during the 2nd quarter worth approximately $26,000. Fortitude Family Office LLC grew its position in Charles Schwab by 97.5% during the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after buying an additional 192 shares during the period. CGC Financial Services LLC purchased a new position in Charles Schwab in the second quarter valued at $29,000. Frazier Financial Advisors LLC acquired a new position in shares of Charles Schwab in the fourth quarter worth about $30,000. Finally, Wetzel Investment Advisors Inc. purchased a new stake in shares of Charles Schwab during the 4th quarter worth about $31,000. 84.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on SCHW shares. Citigroup increased their price target on shares of Charles Schwab from $70.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Piper Sandler raised their target price on shares of Charles Schwab from $75.00 to $78.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. UBS Group reduced their price target on Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. JMP Securities reissued a “market outperform” rating and issued a $80.00 price objective on shares of Charles Schwab in a research report on Tuesday, May 28th. Finally, Morgan Stanley reduced their target price on Charles Schwab from $73.00 to $71.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 11th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Charles Schwab has a consensus rating of “Hold” and a consensus target price of $75.07.

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.