Charles Schwab (NYSE:SCHW) Stock Unloaded Rep. Rick W. Allen

Representative Rick W. Allen (R-Georgia) recently sold shares of The Charles Schwab Co. (NYSE:SCHW). In a filing disclosed on October 18th, the Representative disclosed that they had sold between $15,001 and $50,000 in Charles Schwab stock on September 12th. The trade occurred in the Representative’s “R.W. ALLEN & ASSOCIATES, INC.” account.

Representative Rick W. Allen also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Deere & Company (NYSE:DE) on 8/14/2024.

Charles Schwab Stock Performance

NYSE:SCHW traded up $0.80 during mid-day trading on Wednesday, reaching $71.71. The company’s stock had a trading volume of 6,508,865 shares, compared to its average volume of 8,084,919. The firm’s fifty day moving average price is $65.45 and its two-hundred day moving average price is $69.50. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65. The stock has a market cap of $127.53 billion, a P/E ratio of 28.01, a PEG ratio of 1.65 and a beta of 0.97. The Charles Schwab Co. has a 12-month low of $48.66 and a 12-month high of $79.49.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 17.52%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.77 earnings per share. On average, equities analysts forecast that The Charles Schwab Co. will post 3.11 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.39%. Charles Schwab’s payout ratio is 39.06%.

Insider Buying and Selling at Charles Schwab

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total transaction of $576,450.00. Following the completion of the sale, the director now directly owns 554,929 shares in the company, valued at approximately $35,543,202.45. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Charles Schwab news, Chairman Charles R. Schwab sold 67,386 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $65.11, for a total transaction of $4,387,502.46. Following the completion of the transaction, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at approximately $3,946,927,245.81. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total transaction of $576,450.00. Following the transaction, the director now directly owns 554,929 shares of the company’s stock, valued at approximately $35,543,202.45. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 182,001 shares of company stock worth $12,512,592 over the last 90 days. Company insiders own 6.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SCHW shares. Wells Fargo & Company boosted their price objective on shares of Charles Schwab from $70.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Jefferies Financial Group reduced their target price on shares of Charles Schwab from $79.00 to $73.00 and set a “buy” rating for the company in a report on Friday, October 4th. Cowen lifted their price target on shares of Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. Keefe, Bruyette & Woods increased their price objective on shares of Charles Schwab from $76.00 to $81.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, JMP Securities lifted their target price on shares of Charles Schwab from $82.00 to $84.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $73.59.

Hedge Funds Weigh In On Charles Schwab

A number of institutional investors and hedge funds have recently made changes to their positions in SCHW. M&G Plc purchased a new stake in Charles Schwab during the 1st quarter valued at $11,452,000. Teewinot Capital Advisers L.L.C. boosted its stake in shares of Charles Schwab by 9.0% during the 2nd quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider’s stock worth $57,122,000 after purchasing an additional 64,041 shares during the period. Daiwa Securities Group Inc. grew its holdings in Charles Schwab by 10.4% during the 1st quarter. Daiwa Securities Group Inc. now owns 190,597 shares of the financial services provider’s stock valued at $13,788,000 after purchasing an additional 17,925 shares during the last quarter. Wedmont Private Capital raised its position in Charles Schwab by 12.2% in the 1st quarter. Wedmont Private Capital now owns 13,130 shares of the financial services provider’s stock worth $949,000 after purchasing an additional 1,430 shares during the period. Finally, Iowa State Bank lifted its stake in Charles Schwab by 37.9% in the third quarter. Iowa State Bank now owns 28,476 shares of the financial services provider’s stock worth $1,846,000 after purchasing an additional 7,829 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

About Representative Allen

Rick Allen (Republican Party) is a member of the U.S. House, representing Georgia’s 12th Congressional District. He assumed office on January 3, 2015. His current term ends on January 3, 2025. Allen (Republican Party) is running for re-election to the U.S. House to represent Georgia’s 12th Congressional District. He declared candidacy for the 2024 election. Allen won re-election in 2018 with more than 59 percent of the vote. Prior to his election to the U.S. House, Allen founded a small business which has, according to his office biography, “created thousands of jobs in the Augusta and Athens communities for more than 35 years.” He graduated from Auburn University with a degree in building construction. At the beginning of the 115th Congress, Allen was assigned to the Committee on Agriculture and the Committee on Education and the Workforce. Allen was born in Augusta, Georgia, in 1951. He attended Auburn University in Alabama, graduating in 1973 with a B.S. in building construction. After earning his degree, Allen worked as an estimator, project administrator and assistant to the president with a construction firm in Augusta. In 1976, he founded his own construction business, R. W. Allen & Associates, Inc. The company operates in six states across the country. In 2008, Allen was presented with the Augusta Metro Chamber of Commerce’s Small Business Person of the Year award.

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.