Brown Brothers Harriman & Co. Sells 9,550 Shares of The Charles Schwab Co. (NYSE:SCHW)

Brown Brothers Harriman & Co. cut its stake in The Charles Schwab Co. (NYSE:SCHW) by 54.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,959 shares of the financial services provider’s stock after selling 9,550 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Charles Schwab were worth $516,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Washington Trust Advisors Inc. raised its holdings in Charles Schwab by 62.6% in the third quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 149 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Charles Schwab in the 3rd quarter worth approximately $25,000. Country Trust Bank bought a new position in shares of Charles Schwab during the 2nd quarter worth approximately $26,000. American Capital Advisory LLC purchased a new stake in Charles Schwab during the second quarter valued at approximately $27,000. Finally, Fortitude Family Office LLC boosted its stake in Charles Schwab by 97.5% in the second quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 192 shares in the last quarter. 84.38% of the stock is owned by institutional investors.

Charles Schwab Trading Up 0.6 %

SCHW stock opened at $82.22 on Wednesday. The business’s 50-day moving average is $71.28 and its 200 day moving average is $69.85. The Charles Schwab Co. has a 12-month low of $55.59 and a 12-month high of $82.50. The stock has a market cap of $146.32 billion, a price-to-earnings ratio of 32.12, a PEG ratio of 1.77 and a beta of 0.96. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW) last issued 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. The firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.77 earnings per share. On average, sell-side analysts anticipate that The Charles Schwab Co. will post 3.12 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

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

Insider Buying and Selling

In related news, insider Nigel J. Murtagh sold 12,739 shares of Charles Schwab stock in a transaction that occurred 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 transaction, the insider now owns 59,092 shares in the company, valued at approximately $4,796,497.64. This trade represents a 17.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jonathan S. Beatty sold 2,500 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $77.02, for a total value of $192,550.00. Following the completion of the sale, the insider now owns 18,069 shares of the company’s stock, valued at approximately $1,391,674.38. The trade was a 12.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 125,668 shares of company stock worth $9,230,648. 6.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Raymond James decreased their price objective on Charles Schwab from $76.00 to $73.00 in a report on Tuesday, October 15th. Morgan Stanley raised their price target on Charles Schwab from $68.00 to $74.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Wells Fargo & Company upped their price objective on shares of Charles Schwab from $70.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Piper Sandler lifted their target price on shares of Charles Schwab from $64.00 to $65.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Finally, Bank of America reduced their price target on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Charles Schwab presently has a consensus rating of “Hold” and an average target price of $74.18.

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.