Charles R. Schwab Sells 59,906 Shares of The Charles Schwab Co. (NYSE:SCHW) Stock

The Charles Schwab Co. (NYSE:SCHW) Chairman Charles R. Schwab sold 59,906 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $74.78, for a total transaction of $4,479,770.68. Following the transaction, the chairman now directly owns 61,038,701 shares in the company, valued at approximately $4,564,474,060.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Charles Schwab Stock Down 0.8 %

SCHW traded down $0.62 during trading hours on Tuesday, reaching $73.94. 6,725,134 shares of the stock traded hands, compared to its average volume of 7,696,079. The firm’s fifty day simple moving average is $70.09 and its two-hundred day simple moving average is $64.33. The company has a market cap of $131.32 billion, a price-to-earnings ratio of 30.94, a PEG ratio of 1.10 and a beta of 1.01. The Charles Schwab Co. has a fifty-two week low of $45.65 and a fifty-two week high of $75.55. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.43 and a quick ratio of 0.43.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date is Thursday, May 9th. Charles Schwab’s payout ratio is 41.84%.

Analysts Set New Price Targets

SCHW has been the topic of a number of recent analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $80.00 price target on shares of Charles Schwab in a research note on Tuesday, April 16th. Citigroup increased their price target on shares of Charles Schwab from $70.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Raymond James cut their price target on shares of Charles Schwab from $78.00 to $75.00 and set an “outperform” rating on the stock in a research note on Thursday, January 18th. Morgan Stanley increased their price target on shares of Charles Schwab from $65.00 to $71.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Finally, Barclays raised their target price on shares of Charles Schwab from $74.00 to $75.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 16th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $74.47.

Institutional Investors Weigh In On Charles Schwab

A number of large investors have recently added to or reduced their stakes in SCHW. Oak Thistle LLC acquired a new stake in Charles Schwab during the 3rd quarter valued at $233,000. PDS Planning Inc grew its holdings in Charles Schwab by 3.6% during the 3rd quarter. PDS Planning Inc now owns 7,488 shares of the financial services provider’s stock worth $411,000 after acquiring an additional 262 shares in the last quarter. Busey Trust CO grew its holdings in Charles Schwab by 60.1% during the 3rd quarter. Busey Trust CO now owns 154,812 shares of the financial services provider’s stock worth $8,499,000 after acquiring an additional 58,089 shares in the last quarter. RMR Wealth Builders grew its holdings in Charles Schwab by 108.9% during the 3rd quarter. RMR Wealth Builders now owns 15,599 shares of the financial services provider’s stock worth $856,000 after acquiring an additional 8,132 shares in the last quarter. Finally, Atlas Private Wealth Management grew its holdings in Charles Schwab by 9.9% during the 3rd quarter. Atlas Private Wealth Management now owns 5,887 shares of the financial services provider’s stock worth $323,000 after acquiring an additional 528 shares in the last quarter. 84.38% of the stock is 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.