Charles Schwab insiders scoop up stock amid selloff
Executives and directors at Charles Schwab Corp. scooped up nearly $7 million worth of the financial-services giant’s beaten-down stock Tuesday and Wednesday in an apparent vote of confidence in the company’s ability to weather the ongoing bank rout.
Two fellow executives, President Richard Wurster and Chief Financial Officer Peter Crawford, each bought 5,000 Schwab shares Tuesday. Wurster bought at an average price of $57.28, for a total of about $286,000, while Crawford bought at an average price of $57.96, for a total of roughly $290,000. Directors Todd Ricketts and Stephen Ellis were more aggressive with their purchasing, with Ricketts buying 10,000 shares Tuesday an average price of $56.79 a share and paying $567,862 in total.
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