Brave Asset Management Inc. Buys Shares of 2,988 The Charles Schwab Co. (NYSE:SCHW)

Brave Asset Management Inc. bought a new position in shares of The Charles Schwab Co. (NYSE:SCHW) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 2,988 shares of the financial services provider’s stock, valued at approximately $221,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its position in shares of Charles Schwab by 15.0% in the 3rd quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock valued at $1,644,674,000 after buying an additional 3,157,923 shares during the last quarter. Darsana Capital Partners LP boosted its holdings in Charles Schwab by 200.0% in the second quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the financial services provider’s stock valued at $221,070,000 after acquiring an additional 2,000,000 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Charles Schwab by 6.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock valued at $1,858,706,000 after purchasing an additional 1,711,312 shares during the period. AustralianSuper Pty Ltd increased its position in Charles Schwab by 2,617.6% during the 3rd quarter. AustralianSuper Pty Ltd now owns 1,707,771 shares of the financial services provider’s stock valued at $110,681,000 after purchasing an additional 1,644,931 shares during the period. Finally, Two Sigma Advisers LP bought a new position in Charles Schwab during the 3rd quarter worth approximately $86,845,000. 84.38% of the stock is owned by institutional investors.

Insider Activity at Charles Schwab

In other news, insider Nigel J. Murtagh sold 12,739 shares of Charles Schwab stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $81.17, for a total transaction of $1,034,024.63. Following the sale, the insider now directly owns 59,092 shares in the company, valued at $4,796,497.64. The trade was a 17.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jonathan S. Beatty sold 2,300 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $82.01, for a total transaction of $188,623.00. Following the transaction, the insider now owns 18,069 shares of the company’s stock, valued at approximately $1,481,838.69. The trade was a 11.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,823 shares of company stock valued at $2,171,194 over the last ninety days. Corporate insiders own 6.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. The Goldman Sachs Group increased their price objective on shares of Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Cowen increased their price target on Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. Keefe, Bruyette & Woods boosted their price objective on Charles Schwab from $81.00 to $93.00 and gave the company an “outperform” rating in a research note on Friday, December 20th. Piper Sandler raised their target price on Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Finally, Citigroup dropped their price target on Charles Schwab from $85.00 to $80.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.63.

Charles Schwab Stock Up 1.9 %

Shares of NYSE SCHW opened at $73.75 on Thursday. 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 company has a 50-day moving average price of $77.62 and a 200-day moving average price of $70.58. The stock has a market capitalization of $131.25 billion, a P/E ratio of 28.81, a P/E/G ratio of 1.19 and a beta of 0.99. The Charles Schwab Co. has a 1 year low of $59.67 and a 1 year high of $83.35.

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, topping the consensus estimate of $0.75 by $0.02. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the prior year, the company posted $0.77 earnings per share. Charles Schwab’s revenue was up 5.2% compared to the same quarter last year. On average, equities research analysts forecast that The Charles Schwab Co. will post 3.13 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were paid a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.36%. Charles Schwab’s payout ratio is 39.06%.

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.