Charles Schwab (NYSE:SCHW) Shares 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

SCHW traded up $0.52 during trading on Wednesday, hitting $71.43. 2,696,899 shares of the company traded hands, compared to its average volume of 8,065,911. The Charles Schwab Co. has a one year low of $48.66 and a one year high of $79.49. The stock’s fifty day moving average is $65.32 and its 200 day moving average is $69.48. The firm has a market cap of $127.03 billion, a P/E ratio of 27.70, a price-to-earnings-growth ratio of 1.65 and a beta of 0.97. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65.

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SCHW. Jefferies Financial Group decreased their target price on shares of Charles Schwab from $79.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, October 4th. The Goldman Sachs Group lifted their target price on shares of Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. UBS Group reduced their price objective on shares of Charles Schwab from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Cowen boosted their target price on Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a research report on Tuesday, October 15th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Charles Schwab from $77.00 to $76.00 in a research report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $73.59.

Insider Buying and Selling

In other news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $65.10, for a total value of $802,032.00. Following the completion of the transaction, the director now owns 562,129 shares in the company, valued at $36,594,597.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Carolyn Schwab-Pomerantz sold 12,320 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $65.10, for a total value of $802,032.00. Following the completion of the transaction, the director now directly owns 562,129 shares in the company, valued at approximately $36,594,597.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul V. Woolway sold 1,150 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $65.20, for a total transaction of $74,980.00. Following the transaction, the insider now directly owns 61,887 shares in the company, valued at $4,035,032.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 182,001 shares of company stock worth $12,512,592 in the last 90 days. Company insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Country Trust Bank acquired a new stake in Charles Schwab in the second quarter valued at $26,000. Fortitude Family Office LLC boosted its holdings in Charles Schwab by 97.5% in the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 192 shares in the last quarter. American Capital Advisory LLC purchased a new position in Charles Schwab in the second quarter valued at approximately $27,000. CGC Financial Services LLC acquired a new position in shares of Charles Schwab in the 2nd quarter valued at $29,000. Finally, Mizuho Securities Co. Ltd. acquired a new position in Charles Schwab during the second quarter worth approximately $29,000. 84.38% of the stock is currently 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.