Bullish indicating open at $55-$60, IPO prices at $37
Carolyn Schwab-Pomerantz, a director at Charles Schwab Corp (NYSE:SCHW), recently sold a significant portion of the company’s stock, as detailed in a recent SEC filing. On March 6, Schwab-Pomerantz executed sales totaling 24,000 shares, generating proceeds of approximately $1.81 million. The sales were conducted at a weighted average price range between $75.5823 and $75.5894 per share. The stock, currently trading at $71.24, has experienced a 5.2% decline over the past week, though InvestingPro data shows the company has maintained dividend payments for 37 consecutive years and boasts a robust gross profit margin of 97%.
The transactions were carried out under a Rule 10b5-1 trading plan established by Schwab-Pomerantz on August 14, 2024. Following these sales, Schwab-Pomerantz retains ownership of over 1.5 million shares, held directly and indirectly, including shares held by a trust and by her spouse as trustee. According to InvestingPro, which offers comprehensive analysis through its Pro Research Reports covering 1,400+ stocks, analysts maintain a positive outlook with 12 upward earnings revisions for the upcoming period.
In other recent news, The Charles Schwab Corporation reported a 75% year-over-year increase in core net new assets for January 2025, totaling $30.6 billion. Total (EPA:TTEF) client assets reached $10.33 trillion, marking a 21% rise compared to the previous year. Schwab also completed a $13.1 billion stock sale, marking the exit of TD Group US Holdings LLC from its position in the company. The sale involved the transaction of 165,443,530 shares, with Schwab not receiving proceeds as the shares were sold by TD. Analyst firm Keefe, Bruyette & Woods maintained an Outperform rating on Schwab, with a price target of $93.00, following the news of TD Bank’s stake divestiture. Truist Securities also increased Schwab’s stock target to $91 and maintained a Buy rating, reflecting confidence in Schwab’s financial performance. Schwab’s strategic buyback of $1.5 billion worth of shares from TD is part of a broader plan to continue buybacks throughout 2025. This move is expected to potentially increase earnings per share and shareholder value.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.