The Charles Schwab Co. (NYSE:SCHW) Chairman Charles R. Schwab Sells 59,905 Shares

The Charles Schwab Co. (NYSE:SCHW) Chairman Charles R. Schwab sold 59,905 shares of the stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $74.96, for a total transaction of $4,490,478.80. Following the sale, the chairman now owns 61,098,607 shares in the company, valued at $4,579,951,580.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Charles Schwab Stock Down 0.8 %

Shares of NYSE SCHW traded down $0.62 during mid-day trading on Tuesday, reaching $73.94. The company had a trading volume of 6,725,134 shares, compared to its average volume of 7,696,079. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.82. The firm has a 50 day simple moving average of $70.09 and a two-hundred day simple moving average of $64.33. The stock has a market cap of $131.32 billion, a P/E ratio of 30.94, a PEG ratio of 1.10 and a beta of 1.01. The Charles Schwab Co. has a 52-week low of $45.65 and a 52-week high of $75.55.

Charles Schwab Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. TD Cowen increased their target price on shares of Charles Schwab from $87.00 to $92.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Raymond James reduced their price objective on shares of Charles Schwab from $78.00 to $75.00 and set an “outperform” rating on the stock in a report on Thursday, January 18th. StockNews.com upgraded shares of Charles Schwab from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Keefe, Bruyette & Woods raised their price objective on shares of Charles Schwab from $75.00 to $76.00 and gave the company a “market perform” rating in a report on Tuesday, April 16th. Finally, Barclays raised their price objective on shares of Charles Schwab from $74.00 to $75.00 and gave the company an “equal weight” rating in a report on Tuesday, April 16th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $74.47.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SCHW. Price T Rowe Associates Inc. MD boosted its holdings in shares of Charles Schwab by 33.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 69,360,233 shares of the financial services provider’s stock valued at $4,771,985,000 after acquiring an additional 17,369,091 shares in the last quarter. Norges Bank purchased a new stake in shares of Charles Schwab in the fourth quarter valued at about $950,192,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of Charles Schwab by 26.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 29,775,952 shares of the financial services provider’s stock valued at $1,634,700,000 after acquiring an additional 6,195,934 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Charles Schwab by 186.2% in the third quarter. Ameriprise Financial Inc. now owns 7,107,176 shares of the financial services provider’s stock valued at $390,234,000 after acquiring an additional 4,624,302 shares in the last quarter. Finally, Boston Partners boosted its holdings in shares of Charles Schwab by 424.7% in the fourth quarter. Boston Partners now owns 4,451,090 shares of the financial services provider’s stock valued at $305,400,000 after acquiring an additional 3,602,830 shares in the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

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.