Insider Selling: The Charles Schwab Co. (NYSE:SCHW) Chairman Sells $4,387,502.46 in Stock

The Charles Schwab Co. (NYSE:SCHW) Chairman Charles R. Schwab sold 67,386 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $65.11, for a total value of $4,387,502.46. Following the completion of the sale, the chairman now owns 60,619,371 shares of the company’s stock, valued at approximately $3,946,927,245.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Charles Schwab Price Performance

NYSE SCHW opened at $63.39 on Monday. The Charles Schwab Co. has a 1 year low of $48.66 and a 1 year high of $79.49. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.42 and a quick ratio of 0.42. The company has a market cap of $112.66 billion, a price-to-earnings ratio of 26.52, a PEG ratio of 1.19 and a beta of 0.99. The stock’s fifty day moving average price is $70.99 and its 200 day moving average price is $70.05.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, beating the consensus estimate of $0.72 by $0.01. Charles Schwab had a net margin of 26.30% and a return on equity of 18.65%. The company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.68 billion. During the same period in the prior year, the company earned $0.75 earnings per share. The firm’s revenue was up .7% on a year-over-year basis. As a group, equities research analysts forecast that The Charles Schwab Co. will post 3.09 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, August 9th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.58%. The ex-dividend date is Friday, August 9th. Charles Schwab’s payout ratio is 41.84%.

Institutional Investors Weigh In On Charles Schwab

Several hedge funds have recently added to or reduced their stakes in the business. Country Trust Bank purchased a new stake in shares of Charles Schwab during the 2nd quarter worth about $26,000. American Capital Advisory LLC purchased a new stake in shares of Charles Schwab during the 2nd quarter worth about $27,000. Fortitude Family Office LLC boosted its stake in shares of Charles Schwab by 97.5% during the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 192 shares in the last quarter. CGC Financial Services LLC acquired a new position in shares of Charles Schwab during the 2nd quarter worth about $29,000. Finally, Mizuho Securities Co. Ltd. acquired a new position in shares of Charles Schwab during the 2nd quarter worth about $29,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SCHW has been the subject of a number of research reports. Morgan Stanley lowered their price target on Charles Schwab from $73.00 to $71.00 and set an “equal weight” rating for the company in a report on Thursday, July 11th. StockNews.com downgraded shares of Charles Schwab from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. Bank of America reduced their price objective on shares of Charles Schwab from $72.00 to $66.00 and set an “underperform” rating for the company in a research note on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Charles Schwab from $84.00 to $79.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Finally, 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. Three equities research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $74.27.

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.