Insider Selling: Charles Schwab (NYSE:SCHW) Insider Sells 4,053 Shares

Key Points

• Charles Schwab insider Nigel Murtagh sold 4,053 shares for approximately $422,079 under a pre-arranged Rule 10b5-1 trading plan, reducing his ownership by 6.53% to 57,972 shares.
• SCHW reported quarterly EPS of $1.62, beating estimates of $1.56, while revenue reached $7.07 billion, up 20.9% year over year and above expectations.
• The company declared a quarterly dividend of $0.32 per share, equivalent to a 1.2% annualized yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $119.94 versus the reported share price of $105.84.

The Charles Schwab Corporation (NYSE:SCHW - Get Free Report) insider Nigel Murtagh sold 4,053 shares of the business's stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $104.14, for a total value of $422,079.42. Following the sale, the insider owned 57,972 shares of the company's stock, valued at $6,037,204.08. The trade was a 6.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Charles Schwab Price Performance

SCHW stock traded up $1.66 during midday trading on Tuesday, reaching $105.84. The stock had a trading volume of 2,347,075 shares, compared to its average volume of 10,849,993. The Charles Schwab Corporation has a 52-week low of $83.96 and a 52-week high of $107.50. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.48. The company's fifty day simple moving average is $94.17 and its 200 day simple moving average is $95.34. The company has a market cap of $184.08 billion, a price-to-earnings ratio of 19.25, a price-to-earnings-growth ratio of 0.83 and a beta of 0.77.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $1.62 EPS for the quarter, beating analysts' consensus estimates of $1.56 by $0.06. The business had revenue of $7.07 billion during the quarter, compared to analysts' expectations of $6.90 billion. Charles Schwab had a net margin of 38.79% and a return on equity of 24.73%. The company's quarterly revenue was up 20.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.14 earnings per share. As a group, sell-side analysts predict that The Charles Schwab Corporation will post 6.43 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, August 14th. Charles Schwab's dividend payout ratio (DPR) is 23.27%.

Institutional Trading of Charles Schwab

A number of institutional investors and hedge funds have recently bought and sold shares of SCHW. Dogwood Wealth Management LLC increased its position in shares of Charles Schwab by 99.2% during the fourth quarter. Dogwood Wealth Management LLC now owns 247 shares of the financial services provider's stock worth $25,000 after purchasing an additional 123 shares in the last quarter. Piscataqua Savings Bank purchased a new position in shares of Charles Schwab in the fourth quarter valued at $26,000. Scarborough Advisors LLC acquired a new position in shares of Charles Schwab during the 1st quarter worth approximately $29,000. Optima Capital LLC acquired a new position in Charles Schwab in the 4th quarter valued at about $30,000. Finally, McIlrath & Eck LLC raised its holdings in Charles Schwab by 143.2% in the 4th quarter. McIlrath & Eck LLC now owns 321 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 189 shares during the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SCHW has been the subject of several recent research reports. Piper Sandler set a $118.00 price target on Charles Schwab in a report on Tuesday, July 21st. Morgan Stanley upped their price objective on shares of Charles Schwab from $133.00 to $136.00 and gave the company an "overweight" rating in a report on Monday. JPMorgan Chase & Co. lifted their target price on shares of Charles Schwab from $128.00 to $131.00 and gave the stock an "overweight" rating in a research note on Friday, April 17th. UBS Group boosted their target price on shares of Charles Schwab from $122.00 to $128.00 and gave the company a "buy" rating in a report on Wednesday, July 22nd. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Charles Schwab in a research note on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $119.94.

About Charles Schwab

Charles Schwab Corporation NYSE: SCHW is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.

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