Avity Investment Management Inc. Buys New Stake in The Charles Schwab Corporation $SCHW

Avity Investment Management Inc. bought a new stake in The Charles Schwab Corporation (NYSE:SCHW) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,200 shares of the financial services provider’s stock, valued at approximately $201,000.

Several other hedge funds also recently made changes to their positions in the company. Sheaff Brock Investment Advisors LLC grew its holdings in shares of Charles Schwab by 1.6% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 7,986 shares of the financial services provider’s stock worth $625,000 after purchasing an additional 129 shares during the last quarter. HM Payson & Co. boosted its stake in shares of Charles Schwab by 0.7% during the first quarter. HM Payson & Co. now owns 19,271 shares of the financial services provider’s stock worth $1,509,000 after buying an additional 130 shares during the period. Cornerstone Wealth Management LLC boosted its stake in shares of Charles Schwab by 2.1% during the first quarter. Cornerstone Wealth Management LLC now owns 6,551 shares of the financial services provider’s stock worth $513,000 after buying an additional 132 shares during the period. Journey Strategic Wealth LLC boosted its stake in shares of Charles Schwab by 3.1% during the first quarter. Journey Strategic Wealth LLC now owns 4,486 shares of the financial services provider’s stock worth $351,000 after buying an additional 135 shares during the period. Finally, Meridian Wealth Management LLC boosted its stake in shares of Charles Schwab by 2.2% during the first quarter. Meridian Wealth Management LLC now owns 6,192 shares of the financial services provider’s stock worth $485,000 after buying an additional 136 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

SCHW has been the subject of a number of recent analyst reports. Morgan Stanley raised their price objective on shares of Charles Schwab from $117.00 to $131.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th. TD Securities raised their price objective on shares of Charles Schwab from $95.00 to $113.00 and gave the company a “buy” rating in a research report on Tuesday, May 20th. Truist Financial raised their price objective on shares of Charles Schwab from $107.00 to $112.00 and gave the company a “buy” rating in a research report on Friday, August 15th. Piper Sandler raised their price objective on shares of Charles Schwab from $80.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, July 15th. Finally, Redburn Atlantic upgraded shares of Charles Schwab from a “sell” rating to a “neutral” rating and raised their price objective for the company from $65.00 to $82.00 in a research report on Monday, June 9th. Sixteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $99.60.

Charles Schwab Trading Down 0.5%

Shares of Charles Schwab stock opened at $93.50 on Monday. The Charles Schwab Corporation has a 12-month low of $61.81 and a 12-month 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 stock has a market cap of $169.72 billion, a PE ratio of 25.13, a price-to-earnings-growth ratio of 0.92 and a beta of 0.96. The company has a 50-day moving average of $95.41 and a two-hundred day moving average of $86.87.

Charles Schwab (NYSE:SCHW) last issued its earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The company had revenue of $5.85 billion during the quarter, compared to analysts’ expectations of $5.64 billion. During the same period last year, the company posted $0.73 earnings per share. The firm’s quarterly revenue was up 24.8% compared to the same quarter last year. On average, research analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab’s dividend payout ratio (DPR) is 29.03%.

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

Insider Buying and Selling at Charles Schwab

In other news, insider Jonathan S. Beatty sold 6,144 shares of the firm’s 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 completion of the transaction, the insider directly owned 11,923 shares of the company’s stock, valued at $1,154,265.63. This trade represents a 34.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the firm’s 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. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 298,214 shares of company stock worth $29,022,580. 6.30% of the stock is currently owned by insiders.

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.