Charles Schwab (NYSE:SCHW) Stock Price Down 1% After Insider Selling

The Charles Schwab Co. (NYSE:SCHW - Get Free Report)'s share price was down 1% on Thursday after an insider sold shares in the company. The stock traded as low as $74.00 and last traded at $74.43. Approximately 1,174,740 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 7,692,344 shares. The stock had previously closed at $75.19.

Specifically, insider Jonathan M. Craig sold 4,977 shares of the company's stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $70.01, for a total value of $348,439.77. Following the completion of the sale, the insider now owns 81,446 shares of the company's stock, valued at approximately $5,702,034.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Jonathan M. Craig sold 4,977 shares of the company's stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $70.01, for a total value of $348,439.77. Following the completion of the sale, the insider now owns 81,446 shares of the company's stock, valued at approximately $5,702,034.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Peter J. Morgan III sold 24,520 shares of the stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $72.23, for a total transaction of $1,771,079.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 389,167 shares of company stock valued at $26,987,035. Corporate insiders own 6.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on SCHW shares. JPMorgan Chase & Co. increased their price target on shares of Charles Schwab from $86.00 to $89.00 and gave the company an "overweight" rating in a research report on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Charles Schwab from $75.00 to $77.00 and gave the stock a "buy" rating in a report on Tuesday, March 19th. Morgan Stanley upped their price objective on shares of Charles Schwab from $65.00 to $71.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 9th. The Goldman Sachs Group restated a "neutral" rating and issued a $71.00 price objective (up from $70.00) on shares of Charles Schwab in a report on Wednesday, January 3rd. Finally, JMP Securities restated a "market outperform" rating and issued a $80.00 price objective on shares of Charles Schwab in a report on Tuesday, April 16th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $74.47.

Charles Schwab Trading Down 0.4 %

The stock has a market cap of $132.96 billion, a P/E ratio of 31.33, a P/E/G ratio of 1.10 and a beta of 1.01. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.43 and a quick ratio of 0.43. The firm's 50 day moving average price is $69.27 and its 200-day moving average price is $63.60.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, May 9th. This represents a $1.00 annualized dividend and a yield of 1.34%. Charles Schwab's dividend payout ratio is 41.84%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Capital Investment Advisors LLC lifted its holdings in shares of Charles Schwab by 5.1% during the 3rd quarter. Capital Investment Advisors LLC now owns 5,239 shares of the financial services provider's stock valued at $288,000 after buying an additional 256 shares during the period. Cedar Brook Financial Partners LLC boosted its position in Charles Schwab by 10.8% in the third quarter. Cedar Brook Financial Partners LLC now owns 4,128 shares of the financial services provider's stock worth $227,000 after purchasing an additional 403 shares during the last quarter. Meridian Wealth Management LLC increased its position in shares of Charles Schwab by 109.3% during the 3rd quarter. Meridian Wealth Management LLC now owns 13,470 shares of the financial services provider's stock valued at $739,000 after purchasing an additional 7,034 shares during the last quarter. Strategic Blueprint LLC lifted its stake in shares of Charles Schwab by 3.5% in the 3rd quarter. Strategic Blueprint LLC now owns 9,423 shares of the financial services provider's stock worth $517,000 after purchasing an additional 320 shares during the period. Finally, CX Institutional boosted its holdings in shares of Charles Schwab by 9.5% in the third quarter. CX Institutional now owns 9,953 shares of the financial services provider's stock worth $546,000 after buying an additional 866 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company's stock.

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.