Brookwood Investment Group LLC Sells 5,165 Shares of The Charles Schwab Corporation $SCHW

Brookwood Investment Group LLC trimmed its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 58.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,609 shares of the financial services provider’s stock after selling 5,165 shares during the quarter. Brookwood Investment Group LLC’s holdings in Charles Schwab were worth $329,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of SCHW. Princeton Global Asset Management LLC bought a new position in Charles Schwab in the 2nd quarter valued at about $25,000. Westside Investment Management Inc. increased its holdings in Charles Schwab by 75.0% in the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock valued at $27,000 after buying an additional 150 shares during the period. RMG Wealth Management LLC bought a new position in Charles Schwab in the 2nd quarter valued at about $27,000. CBIZ Investment Advisory Services LLC increased its holdings in Charles Schwab by 97.9% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock valued at $30,000 after buying an additional 191 shares during the period. Finally, Stone House Investment Management LLC bought a new position in Charles Schwab in the 1st quarter valued at about $31,000. 84.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SCHW has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised their target price on shares of Charles Schwab from $119.00 to $121.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Piper Sandler reissued a “neutral” rating on shares of Charles Schwab in a report on Tuesday, October 14th. BMO Capital Markets initiated coverage on shares of Charles Schwab in a report on Friday, October 3rd. They issued an “outperform” rating and a $110.00 target price on the stock. Wells Fargo & Company set a $102.00 target price on shares of Charles Schwab and gave the company an “overweight” rating in a report on Friday, July 18th. Finally, Barclays raised their price target on shares of Charles Schwab from $114.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $106.00.

Insider Buying and Selling

In related news, insider Jonathan S. Beatty sold 6,144 shares of Charles Schwab stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $96.81, for a total transaction of $594,800.64. Following the sale, the insider directly owned 11,923 shares in the company, valued at $1,154,265.63. This trade represents a 34.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Peter J. Morgan III sold 50,016 shares of Charles Schwab stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total transaction of $4,851,552.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 69,156 shares of company stock worth $6,686,934 in the last ninety days. Company insiders own 6.30% of the company’s stock.

Charles Schwab Trading Down 1.1%

SCHW opened at $93.78 on Wednesday. The company’s 50 day moving average is $94.36 and its 200-day moving average is $90.87. The Charles Schwab Corporation has a 1-year low of $65.88 and a 1-year high of $99.59. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47. The company has a market cap of $170.23 billion, a P/E ratio of 21.96, a PEG ratio of 0.85 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The company had revenue of $6.14 billion for the quarter, compared to the consensus estimate of $5.93 billion. During the same period last year, the company posted $0.71 EPS. The firm’s quarterly revenue was up 26.6% compared to the same quarter last year. Equities research analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, November 14th. This represents a $1.08 annualized dividend and a yield of 1.2%. Charles Schwab’s dividend payout ratio (DPR) is currently 25.29%.

Charles Schwab declared that its Board of Directors has initiated a share buyback program on Thursday, July 24th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 11.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

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.