Brown Advisory Inc. Purchases 1,757,720 Shares of The Charles Schwab Corporation (NYSE:SCHW)

Brown Advisory Inc. increased its stake in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 37.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,454,052 shares of the financial services provider's stock after acquiring an additional 1,757,720 shares during the period. Brown Advisory Inc. owned about 0.36% of Charles Schwab worth $505,223,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in SCHW. Norges Bank acquired a new stake in shares of Charles Schwab during the fourth quarter worth $1,289,544,000. Kovitz Investment Group Partners LLC raised its holdings in shares of Charles Schwab by 354.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 11,005,881 shares of the financial services provider's stock worth $814,545,000 after acquiring an additional 8,584,173 shares during the period. FMR LLC increased its stake in Charles Schwab by 69.4% in the 4th quarter. FMR LLC now owns 9,700,013 shares of the financial services provider's stock valued at $717,898,000 after buying an additional 3,974,940 shares during the last quarter. Marshall Wace LLP increased its stake in Charles Schwab by 742.0% in the 4th quarter. Marshall Wace LLP now owns 4,181,202 shares of the financial services provider's stock valued at $309,451,000 after buying an additional 3,684,640 shares during the last quarter. Finally, Primecap Management Co. CA increased its stake in Charles Schwab by 310.3% in the 4th quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider's stock valued at $314,716,000 after buying an additional 3,216,000 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Charles Schwab news, insider Paul V. Woolway sold 10,129 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $90.01, for a total transaction of $911,711.29. Following the sale, the insider directly owned 39,154 shares of the company's stock, valued at $3,524,251.54. The trade was a 20.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Peter J. Morgan III sold 10,176 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $87.39, for a total transaction of $889,280.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 119,905 shares of company stock worth $10,530,833. 6.30% of the stock is owned by company insiders.

Charles Schwab Stock Performance

NYSE SCHW traded down $0.60 during trading on Tuesday, reaching $92.00. The company's stock had a trading volume of 7,089,514 shares, compared to its average volume of 9,553,135. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $167.16 billion, a price-to-earnings ratio of 27.88, a price-to-earnings-growth ratio of 0.98 and a beta of 0.93. The Charles Schwab Corporation has a 12 month low of $61.01 and a 12 month high of $92.78. The firm has a 50 day moving average price of $87.69 and a 200 day moving average price of $81.01.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its earnings results on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, beating the consensus estimate of $1.01 by $0.03. The company had revenue of $5.60 billion during the quarter, compared to analysts' expectations of $5.46 billion. Charles Schwab had a net margin of 31.71% and a return on equity of 18.31%. During the same period in the previous year, the company earned $0.74 EPS. As a group, equities analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.17%. The ex-dividend date was Friday, May 9th. Charles Schwab's payout ratio is presently 32.73%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SCHW. Piper Sandler lifted their price target on shares of Charles Schwab from $74.00 to $80.00 in a research note on Thursday, April 17th. JPMorgan Chase & Co. lifted their price target on shares of Charles Schwab from $92.00 to $95.00 and gave the company an "overweight" rating in a research note on Monday, April 21st. Keefe, Bruyette & Woods lifted their price target on shares of Charles Schwab from $90.00 to $93.00 and gave the company an "outperform" rating in a research note on Tuesday, April 22nd. Morgan Stanley lifted their price target on shares of Charles Schwab from $76.00 to $83.00 and gave the company an "overweight" rating in a research note on Tuesday, May 13th. Finally, William Blair downgraded shares of Charles Schwab from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 3rd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat, Charles Schwab has a consensus rating of "Moderate Buy" and a consensus price target of $89.55.

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.