Brooklyn Investment Group Decreases Stake in The Charles Schwab Co. (NYSE:SCHW)

Brooklyn Investment Group cut its stake in The Charles Schwab Co. (NYSE:SCHW) by 6.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,568 shares of the financial services provider’s stock after selling 544 shares during the period. Brooklyn Investment Group’s holdings in Charles Schwab were worth $555,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. North Peak Capital Management LLC increased its holdings in shares of Charles Schwab by 6.4% in the third quarter. North Peak Capital Management LLC now owns 1,897,155 shares of the financial services provider’s stock valued at $122,955,000 after purchasing an additional 114,280 shares during the period. Quantbot Technologies LP purchased a new position in Charles Schwab in the third quarter valued at $8,754,000. D.A. Davidson & CO. raised its position in shares of Charles Schwab by 3.7% in the third quarter. D.A. Davidson & CO. now owns 385,970 shares of the financial services provider’s stock worth $25,015,000 after acquiring an additional 13,752 shares during the period. Qsemble Capital Management LP purchased a new stake in shares of Charles Schwab during the 3rd quarter worth about $682,000. Finally, Associated Banc Corp increased its stake in shares of Charles Schwab by 1.2% in the 3rd quarter. Associated Banc Corp now owns 487,161 shares of the financial services provider’s stock valued at $31,573,000 after purchasing an additional 5,703 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Trading Up 0.1 %

Shares of SCHW stock opened at $81.82 on Tuesday. The business’s fifty day moving average price is $70.91 and its 200 day moving average price is $69.81. The firm has a market capitalization of $145.61 billion, a PE ratio of 31.94, a P/E/G ratio of 1.76 and a beta of 0.96. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The Charles Schwab Co. has a 1-year low of $55.59 and a 1-year high of $82.50.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter last year, the firm posted $0.77 EPS. The business’s revenue was up 5.2% compared to the same quarter last year. As a group, sell-side analysts forecast that The Charles Schwab Co. will post 3.12 EPS for the current fiscal year.

Charles Schwab Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have recently commented on SCHW. Bank of America cut their target price on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company in a research note on Wednesday, October 16th. Jefferies Financial Group reduced their target price on Charles Schwab from $79.00 to $73.00 and set a “buy” rating for the company in a report on Friday, October 4th. Cowen lifted their price target on Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th. Wells Fargo & Company lifted their target price on shares of Charles Schwab from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Citigroup decreased their price target on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a research note on Friday, September 27th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Charles Schwab presently has an average rating of “Hold” and an average price target of $74.18.

Insider Transactions at Charles Schwab

In other Charles Schwab news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total transaction of $576,450.00. Following the completion of the transaction, the director now directly owns 554,929 shares in the company, valued at approximately $35,543,202.45. This trade represents a 1.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Charles R. Schwab sold 62,345 shares of Charles Schwab stock in a transaction dated 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 transaction, the chairman now owns 60,619,371 shares of the company’s stock, valued at approximately $4,396,116,784.92. The trade was a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 112,929 shares of company stock valued at $8,196,624 in the last quarter. 6.60% of the stock is currently owned by corporate insiders.

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.