Rep. Rick W. Allen Sells The Charles Schwab Co. (NYSE:SCHW) Stock

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

Shares of NYSE:SCHW traded up $0.80 during trading on Wednesday, reaching $71.71. 6,593,664 shares of the stock were exchanged, compared to its average volume of 8,084,919. The firm has a market cap of $127.53 billion, a PE ratio of 27.70, a PEG ratio of 1.65 and a beta of 0.97. 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 Charles Schwab Co. has a 12 month low of $48.66 and a 12 month high of $79.49. The stock has a 50-day moving average price of $65.32 and a 200-day moving average price of $69.48.

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

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.39%. Charles Schwab’s dividend payout ratio (DPR) is currently 39.06%.

Analyst Upgrades and Downgrades

SCHW has been the topic of several recent research reports. Wells Fargo & Company raised their target price on shares of Charles Schwab from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. TD Cowen reissued a “hold” rating and set a $71.00 target price (down from $88.00) on shares of Charles Schwab in a report on Wednesday, July 17th. Raymond James dropped their price target on Charles Schwab from $76.00 to $73.00 in a research note on Tuesday, October 15th. Cowen raised their target price 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. Finally, Jefferies Financial Group cut their price target 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. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $73.59.

Institutional Trading of Charles Schwab

Hedge funds and other institutional investors have recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV lifted its holdings in Charles Schwab by 18.3% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 4,621 shares of the financial services provider’s stock worth $334,000 after buying an additional 716 shares during the period. Fulton Bank N.A. grew its holdings in Charles Schwab by 10.4% during the 1st quarter. Fulton Bank N.A. now owns 8,933 shares of the financial services provider’s stock worth $646,000 after acquiring an additional 845 shares during the period. Wedmont Private Capital raised its position in shares of 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 acquiring an additional 1,430 shares in the last quarter. SOA Wealth Advisors LLC. lifted its stake in Charles Schwab by 11.4% in the first quarter. SOA Wealth Advisors LLC. now owns 3,577 shares of the financial services provider’s stock valued at $259,000 after buying an additional 366 shares during the period. Finally, Park Avenue Securities LLC boosted its holdings in shares of Charles Schwab by 9.6% during the 1st quarter. Park Avenue Securities LLC now owns 28,890 shares of the financial services provider’s stock worth $2,090,000 after buying an additional 2,519 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

Insider Activity

In other Charles Schwab news, Chairman Charles R. Schwab sold 67,386 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $65.11, for a total value of $4,387,502.46. Following the completion of the sale, the chairman now directly owns 60,619,371 shares in the company, valued at approximately $3,946,927,245.81. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Chairman Charles R. Schwab sold 67,386 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total transaction of $4,387,502.46. Following the completion of the sale, the chairman now owns 60,619,371 shares in the company, valued at $3,946,927,245.81. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Paul V. Woolway sold 1,150 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $65.20, for a total value of $74,980.00. Following the completion of the transaction, the insider now owns 61,887 shares in the company, valued at approximately $4,035,032.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 182,001 shares of company stock worth $12,512,592 in the last quarter. 6.60% of the stock is owned by corporate insiders.

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.

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.