The Charles Schwab Corporation (NYSE:SCHW) Insider Sells $1,878,688.72 in Stock

The Charles Schwab Corporation (NYSE:SCHW) insider Nigel J. Murtagh sold 20,872 shares of the company’s stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $90.01, for a total value of $1,878,688.72. Following the sale, the insider now directly owns 58,999 shares in the company, valued at $5,310,499.99. This trade represents a 26.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Charles Schwab Stock Performance

SCHW stock opened at $89.25 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.53. The business’s fifty day simple moving average is $84.81 and its two-hundred day simple moving average is $80.12. The Charles Schwab Corporation has a twelve month low of $61.01 and a twelve month high of $90.60. The firm has a market cap of $162.16 billion, a price-to-earnings ratio of 27.04, a PEG ratio of 0.96 and a beta of 0.94.

Charles Schwab (NYSE:SCHW) last released its earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.03. Charles Schwab had a return on equity of 18.31% and a net margin of 31.71%. The business had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.46 billion. During the same quarter last year, the firm posted $0.74 earnings per share. Analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date was Friday, May 9th. Charles Schwab’s payout ratio is 32.73%.

Institutional Investors Weigh In On Charles Schwab

A number of institutional investors have recently added to or reduced their stakes in the stock. Voya Investment Management LLC boosted its position in Charles Schwab by 7.3% during the first quarter. Voya Investment Management LLC now owns 485,838 shares of the financial services provider’s stock valued at $38,031,000 after purchasing an additional 33,087 shares in the last quarter. eCIO Inc. purchased a new stake in Charles Schwab in the first quarter valued at about $110,000. First Hawaiian Bank raised its stake in Charles Schwab by 5.2% in the first quarter. First Hawaiian Bank now owns 104,185 shares of the financial services provider’s stock valued at $8,156,000 after buying an additional 5,135 shares during the last quarter. CBIZ Investment Advisory Services LLC raised its stake in Charles Schwab by 97.9% in the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock valued at $30,000 after buying an additional 191 shares during the last quarter. Finally, Anson Funds Management LP purchased a new stake in Charles Schwab in the first quarter valued at about $783,000. Institutional investors own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SCHW. The Goldman Sachs Group raised Charles Schwab from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a report on Friday, April 25th. JMP Securities reaffirmed a “market outperform” rating and set a $94.00 price objective on shares of Charles Schwab in a report on Monday, April 21st. Truist Financial upped their price objective on Charles Schwab from $97.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, June 16th. Morgan Stanley upped their price objective on Charles Schwab from $76.00 to $83.00 and gave the stock an “overweight” rating in a report on Tuesday, May 13th. Finally, Redburn Atlantic raised Charles Schwab from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $65.00 to $82.00 in a report on Monday, June 9th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $89.40.

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.