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

Brave Asset Management Inc. purchased a new position in shares of The Charles Schwab Co. (NYSE:SCHW) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 2,988 shares of the financial services provider’s stock, valued at approximately $221,000.

Other institutional investors also recently modified their holdings of the company. Benjamin Edwards Inc. boosted its holdings in Charles Schwab by 2,840.7% during the third quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock worth $398,000 after buying an additional 5,937 shares during the last quarter. Synovus Financial Corp grew its holdings in Charles Schwab by 46.0% during the third quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock valued at $4,400,000 after purchasing an additional 21,377 shares during the period. Patten & Patten Inc. TN increased its stake in Charles Schwab by 155.9% in the third quarter. Patten & Patten Inc. TN now owns 104,168 shares of the financial services provider’s stock valued at $6,751,000 after purchasing an additional 63,463 shares in the last quarter. Equity Investment Corp grew its holdings in shares of Charles Schwab by 9.4% in the 3rd quarter. Equity Investment Corp now owns 1,640,157 shares of the financial services provider’s stock valued at $106,299,000 after buying an additional 140,643 shares during the period. Finally, Teewinot Capital Advisers L.L.C. increased its position in shares of Charles Schwab by 9.0% in the 2nd quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider’s stock valued at $57,122,000 after buying an additional 64,041 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. The Goldman Sachs Group increased their price target on Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Truist Financial raised Charles Schwab to a “strong-buy” rating in a research note on Monday, January 6th. Morgan Stanley lifted their price target on shares of Charles Schwab from $68.00 to $74.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Bank of America lowered their price objective 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. Finally, Cowen boosted their price objective on shares of Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Charles Schwab currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.63.

Charles Schwab Price Performance

NYSE:SCHW opened at $73.75 on Thursday. The firm has a fifty day simple moving average of $77.62 and a 200 day simple moving average of $70.58. The Charles Schwab Co. has a 1-year low of $59.67 and a 1-year high of $83.35. The stock has a market capitalization of $131.25 billion, a PE ratio of 28.81, a P/E/G ratio of 1.19 and a beta of 0.99. 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 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 company had revenue of $4.85 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the company posted $0.77 EPS. On average, research analysts expect that The Charles Schwab Co. will post 3.13 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. Investors of record on Friday, November 8th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.36%. Charles Schwab’s dividend payout ratio (DPR) is currently 39.06%.

Insider Activity

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,300 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was 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 in the company, valued at $1,481,838.69. This trade represents a 11.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christopher V. Dodds sold 9,284 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $81.43, for a total value of $755,996.12. Following the completion of the transaction, the director now owns 442,807 shares in the company, valued at $36,057,774.01. The trade was a 2.05 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,823 shares of company stock valued at $2,171,194. 6.60% of the stock is owned by insiders.

About Charles Schwab

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.