Charles Schwab (NYSE:SCHW) Insider Paul Woolway Sells 3,205 Shares

The Charles Schwab Corporation (NYSE:SCHW) insider Paul Woolway sold 3,205 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $95.20, for a total transaction of $305,116.00. Following the completion of the sale, the insider directly owned 37,983 shares of the company’s stock, valued at $3,615,981.60. The trade was a 7.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Charles Schwab Price Performance

Shares of NYSE:SCHW opened at $96.06 on Thursday. The company has a 50-day simple moving average of $94.99 and a 200-day simple moving average of $86.13. The Charles Schwab Corporation has a one year low of $61.16 and a one year high of $99.59. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55. The stock has a market capitalization of $174.36 billion, a price-to-earnings ratio of 25.82, a PEG ratio of 0.94 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The business had revenue of $5.85 billion during the quarter, compared to analysts’ expectations of $5.64 billion. During the same period in the prior year, the company earned $0.73 earnings per share. The business’s revenue was up 24.8% compared to the same quarter last year. On average, analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab declared that its Board of Directors has initiated a share repurchase program on Thursday, July 24th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 11.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, August 8th. Charles Schwab’s payout ratio is 29.03%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Citigroup boosted their price target on shares of Charles Schwab from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, July 21st. Piper Sandler boosted their price target on shares of Charles Schwab from $80.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 15th. Bank of America boosted their price target on shares of Charles Schwab from $83.00 to $84.00 and gave the stock an “underperform” rating in a research note on Monday, July 21st. William Blair lowered shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 3rd. Finally, Morgan Stanley upped their target price on shares of Charles Schwab from $117.00 to $131.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Sixteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $99.60.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Atwood & Palmer Inc. acquired a new stake in shares of Charles Schwab in the first quarter valued at approximately $25,000. Princeton Global Asset Management LLC acquired a new stake in shares of Charles Schwab in the second quarter valued at approximately $25,000. Westside Investment Management Inc. grew its position in shares of Charles Schwab by 75.0% in the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 150 shares during the last quarter. RMG Wealth Management LLC acquired a new stake in shares of Charles Schwab in the second quarter valued at approximately $27,000. Finally, CBIZ Investment Advisory Services LLC grew its position in shares of 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 purchasing an additional 191 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

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.