Brown Advisory Inc. Purchases 5,708,208 Shares of The Charles Schwab Corporation $SCHW

Brown Advisory Inc. boosted its position in The Charles Schwab Corporation (NYSE:SCHW) by 88.4% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 12,162,260 shares of the financial services provider’s stock after purchasing an additional 5,708,208 shares during the period. Charles Schwab comprises approximately 1.5% of Brown Advisory Inc.’s investment portfolio, making the stock its 14th largest position. Brown Advisory Inc.’s holdings in Charles Schwab were worth $1,109,687,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of Charles Schwab in the 2nd quarter valued at $1,889,858,000. Wellington Management Group LLP lifted its stake in Charles Schwab by 595.7% in the first quarter. Wellington Management Group LLP now owns 15,488,777 shares of the financial services provider’s stock worth $1,212,461,000 after purchasing an additional 13,262,309 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Charles Schwab by 12.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock worth $6,422,795,000 after purchasing an additional 8,954,248 shares during the last quarter. Nuveen LLC purchased a new stake in Charles Schwab during the first quarter valued at about $440,699,000. Finally, Primecap Management Co. CA grew its stake in shares of Charles Schwab by 35.9% during the second quarter. Primecap Management Co. CA now owns 19,034,806 shares of the financial services provider’s stock valued at $1,736,736,000 after buying an additional 5,032,728 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Charles Schwab

In other Charles Schwab news, insider Paul V. Woolway sold 3,205 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total transaction of $299,122.65. Following the transaction, the insider owned 34,778 shares in the company, valued at approximately $3,245,830.74. This represents a 8.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan S. Beatty sold 3,072 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $98.00, for a total value of $301,056.00. Following the completion of the transaction, the insider directly owned 11,923 shares of the company’s stock, valued at $1,168,454. This represents a 20.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 6.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SCHW. Piper Sandler reissued a “neutral” rating on shares of Charles Schwab in a research note on Tuesday, October 14th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Charles Schwab in a research report on Wednesday, October 8th. 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. Cowen reaffirmed a “buy” rating on shares of Charles Schwab in a research note on Friday, October 17th. Finally, Zacks Research cut shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $106.45.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $95.02 on Friday. The firm has a market capitalization of $168.84 billion, a price-to-earnings ratio of 22.25, a PEG ratio of 0.83 and a beta of 0.96. The stock has a fifty day moving average of $93.76 and a 200 day moving average of $93.10. The Charles Schwab Corporation has a 52 week low of $65.88 and a 52 week high of $99.59. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.47.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, topping the consensus estimate of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.02%. The business had revenue of $6.38 billion during the quarter, compared to analyst estimates of $5.93 billion. During the same period in the prior year, the business earned $0.71 EPS. The company’s revenue for the quarter was up 26.6% on a year-over-year basis. As a group, research analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were issued a $0.27 dividend. The ex-dividend date was Friday, November 14th. This represents a $1.08 annualized dividend and a yield of 1.1%. Charles Schwab’s dividend payout ratio (DPR) is 25.29%.

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.