Brooklyn Investment Group Sells 544 Shares of The Charles Schwab Co. (NYSE:SCHW)

Brooklyn Investment Group reduced its position in The Charles Schwab Co. (NYSE:SCHW) by 6.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,568 shares of the financial services provider’s stock after selling 544 shares during the quarter. Brooklyn Investment Group’s holdings in Charles Schwab were worth $555,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of SCHW. Alliance Wealth Advisors LLC lifted its holdings in shares of Charles Schwab by 2.7% during the third quarter. Alliance Wealth Advisors LLC now owns 5,358 shares of the financial services provider’s stock valued at $347,000 after purchasing an additional 142 shares in the last quarter. GS Investments Inc. lifted its position in Charles Schwab by 0.3% during the third quarter. GS Investments Inc. now owns 57,434 shares of the financial services provider’s stock valued at $3,722,000 after purchasing an additional 146 shares during the period. Washington Trust Advisors Inc. raised its stake in Charles Schwab by 62.6% during the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock valued at $25,000 after buying an additional 149 shares during the last quarter. Arcataur Capital Management LLC lifted its holdings in shares of Charles Schwab by 2.3% during the 3rd quarter. Arcataur Capital Management LLC now owns 6,648 shares of the financial services provider’s stock valued at $431,000 after buying an additional 150 shares during the period. Finally, Tandem Capital Management Corp ADV grew its holdings in shares of Charles Schwab by 0.3% in the third quarter. Tandem Capital Management Corp ADV now owns 49,537 shares of the financial services provider’s stock worth $3,210,000 after acquiring an additional 150 shares during the period. 84.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SCHW has been the subject of a number of recent research reports. Piper Sandler boosted their price target on Charles Schwab from $64.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Cowen boosted their target price on shares of Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. Bank of America decreased their price target on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Charles Schwab from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. upped their price objective on Charles Schwab from $86.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $74.18.

Insiders Place Their Bets

In other Charles Schwab news, Chairman Charles R. Schwab sold 62,345 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total transaction of $4,521,259.40. Following the sale, the chairman now directly owns 60,619,371 shares in the company, valued at $4,396,116,784.92. This represents a 0.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Christopher V. Dodds sold 9,284 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $81.43, for a total value of $755,996.12. Following the transaction, the director now directly owns 442,807 shares in the company, valued at approximately $36,057,774.01. This represents a 2.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 112,929 shares of company stock valued at $8,196,624 in the last quarter. 6.60% of the stock is currently owned by insiders.

Charles Schwab Price Performance

SCHW stock opened at $81.82 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The company’s fifty day moving average price is $70.91 and its 200-day moving average price is $69.81. The Charles Schwab Co. has a one year low of $55.59 and a one year high of $82.50. The company has a market capitalization of $145.61 billion, a PE ratio of 31.94, a price-to-earnings-growth ratio of 1.76 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last announced 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 16.92%. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the previous year, the company earned $0.77 EPS. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, equities analysts anticipate that The Charles Schwab Co. will post 3.12 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.22%. The ex-dividend date was Friday, November 8th. Charles Schwab’s dividend payout ratio is presently 39.06%.

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.