Brown Financial Advisors Purchases Shares of 13,441 The Charles Schwab Co. (NYSE:SCHW)

Brown Financial Advisors purchased a new stake in shares of The Charles Schwab Co. (NYSE:SCHW) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 13,441 shares of the financial services provider’s stock, valued at approximately $990,000.

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SCHW shares. Barclays cut their target price on shares of Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 17th. JPMorgan Chase & Co. dropped their price target on Charles Schwab from $82.00 to $78.00 and set an “overweight” rating for the company in a research note on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft raised their price target on Charles Schwab from $79.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Citigroup dropped their price target on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating for the company in a research note on Friday, September 27th. Finally, Piper Sandler lowered Charles Schwab from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $80.00 to $64.00 in a research note on Monday, July 29th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $73.31.

Charles Schwab Price Performance

SCHW opened at $63.91 on Wednesday. The stock has a 50-day moving average price of $64.08 and a 200-day moving average price of $69.82. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42. The firm has a market cap of $113.66 billion, a PE ratio of 26.74, a P/E/G ratio of 1.32 and a beta of 0.97. The Charles Schwab Co. has a 1 year low of $48.66 and a 1 year high of $79.49.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.01. The firm had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.68 billion. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. Charles Schwab’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.75 EPS. Sell-side analysts predict that The Charles Schwab Co. will post 3.05 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.00 annualized dividend and a yield of 1.56%. Charles Schwab’s payout ratio is 41.84%.

Insider Buying and Selling

In related news, Chairman Charles R. Schwab sold 67,386 shares of Charles Schwab stock in a transaction dated Wednesday, July 31st. The stock was 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $61.96, for a total transaction of $557,640.00. Following the completion of the sale, the director now directly owns 567,057 shares in the company, valued at approximately $35,134,851.72. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Charles R. Schwab sold 67,386 shares of the business’s stock in a transaction dated 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 sale, the chairman now owns 60,619,371 shares of the company’s stock, valued at $3,946,927,245.81. The disclosure for this sale can be found here. In the last ninety days, insiders sold 99,636 shares of company stock worth $6,457,104. 6.60% of the stock is owned by corporate insiders.

Charles Schwab 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.