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 Up 1.3 %

Shares of SCHW stock traded up $0.93 during trading hours on Wednesday, reaching $71.84. The company had a trading volume of 1,389,652 shares, compared to its average volume of 8,059,534. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42. The Charles Schwab Co. has a twelve month low of $48.66 and a twelve month high of $79.49. The company has a market capitalization of $127.76 billion, a P/E ratio of 27.70, a price-to-earnings-growth ratio of 1.65 and a beta of 0.97. The stock’s fifty day simple moving average is $65.32 and its 200 day simple moving average is $69.48.

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

Analyst Ratings Changes

Several analysts recently issued reports on the company. Citigroup lowered their target price on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a research report on Friday, September 27th. Wells Fargo & Company raised their target price on 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 lowered their price target on Charles Schwab from $79.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. The Goldman Sachs Group lifted their price target on Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Finally, StockNews.com upgraded Charles Schwab from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $73.59.

Institutional Trading of Charles Schwab

A number of institutional investors and hedge funds have recently made changes to their positions in SCHW. M&G Plc acquired a new position in shares of Charles Schwab during the 1st quarter worth about $11,452,000. Teewinot Capital Advisers L.L.C. lifted its position 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 last quarter. Daiwa Securities Group Inc. lifted its position in shares of 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 worth $13,788,000 after purchasing an additional 17,925 shares during the last quarter. Wedmont Private Capital lifted its position in shares of Charles Schwab by 12.2% during 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 last quarter. Finally, Iowa State Bank lifted its position in shares of Charles Schwab by 37.9% during the 3rd 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. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Buying and Selling

In other Charles Schwab news, insider Paul V. Woolway sold 1,150 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $4,035,032.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Charles Schwab news, insider Paul V. Woolway sold 1,150 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $4,035,032.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total value of $576,450.00. Following the completion of 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. In the last 90 days, insiders sold 182,001 shares of company stock valued at $12,512,592. Insiders own 6.60% of the company’s stock.

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.