Atria Investments Inc Purchases 26,237 Shares of The Charles Schwab Corporation $SCHW

Atria Investments Inc raised its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 17.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 180,587 shares of the financial services provider’s stock after buying an additional 26,237 shares during the quarter. Atria Investments Inc’s holdings in Charles Schwab were worth $16,477,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Savvy Advisors Inc. grew its position in Charles Schwab by 25.5% during the second quarter. Savvy Advisors Inc. now owns 26,068 shares of the financial services provider’s stock worth $2,378,000 after buying an additional 5,293 shares in the last quarter. Assetmark Inc. raised its stake in shares of Charles Schwab by 66.5% in the second quarter. Assetmark Inc. now owns 718,190 shares of the financial services provider’s stock valued at $65,528,000 after purchasing an additional 286,871 shares in the last quarter. Keybank National Association OH lifted its position in Charles Schwab by 1.1% in the second quarter. Keybank National Association OH now owns 50,131 shares of the financial services provider’s stock worth $4,574,000 after purchasing an additional 523 shares during the period. HBK Sorce Advisory LLC boosted its stake in Charles Schwab by 1.6% during the second quarter. HBK Sorce Advisory LLC now owns 27,635 shares of the financial services provider’s stock worth $2,521,000 after buying an additional 446 shares in the last quarter. Finally, Premier Path Wealth Partners LLC increased its holdings in Charles Schwab by 11.8% in the 2nd quarter. Premier Path Wealth Partners LLC now owns 8,739 shares of the financial services provider’s stock valued at $797,000 after buying an additional 922 shares during the period. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Charles Schwab

In related news, insider Jonathan S. Beatty sold 6,144 shares of the stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $96.81, for a total transaction of $594,800.64. Following the completion of the sale, the insider directly owned 11,923 shares of the company’s stock, valued at approximately $1,154,265.63. This represents a 34.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul V. Woolway sold 3,290 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $96.06, for a total transaction of $316,037.40. Following the sale, the insider owned 41,188 shares in the company, valued at $3,956,519.28. This trade represents a 7.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 69,156 shares of company stock worth $6,686,934. 6.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SCHW. Deutsche Bank Aktiengesellschaft upped their target price on shares of Charles Schwab from $119.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, October 17th. William Blair lowered shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 3rd. BMO Capital Markets assumed coverage on Charles Schwab in a report on Friday, October 3rd. They issued an “outperform” rating and a $110.00 target price on the stock. Keefe, Bruyette & Woods raised their price target on Charles Schwab from $109.00 to $111.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Finally, Morgan Stanley reduced their price objective on Charles Schwab to $130.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 1st. One investment 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Charles Schwab has an average rating of “Moderate Buy” and an average target price of $106.00.

Charles Schwab Trading Up 0.8%

SCHW opened at $94.59 on Thursday. The firm’s fifty day moving average is $94.34 and its two-hundred day moving average is $90.99. The firm has a market cap of $171.70 billion, a PE ratio of 22.15, a price-to-earnings-growth ratio of 0.84 and a beta of 0.97. The Charles Schwab Corporation has a twelve month low of $65.88 and a twelve month high of $99.59. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.06. The business had revenue of $6.14 billion during the quarter, compared to analysts’ expectations of $5.93 billion. Charles Schwab had a net margin of 35.93% and a return on equity of 21.26%. The firm’s quarterly revenue was up 26.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.71 EPS. Equities research analysts anticipate that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab announced that its board has initiated a stock buyback plan 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 shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, November 14th. Charles Schwab’s payout ratio is 25.29%.

Charles Schwab Company 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.