Atria Investments Inc Boosts Stock Position in The Charles Schwab Corporation (NYSE:SCHW)

Atria Investments Inc increased its position in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 9.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 154,350 shares of the financial services provider's stock after buying an additional 13,181 shares during the period. Atria Investments Inc's holdings in Charles Schwab were worth $12,083,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in SCHW. Geode Capital Management LLC raised its holdings in Charles Schwab by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 30,901,484 shares of the financial services provider's stock worth $2,279,742,000 after purchasing an additional 760,043 shares in the last quarter. Norges Bank purchased a new position in shares of Charles Schwab in the 4th quarter worth approximately $1,289,544,000. Northern Trust Corp raised its stake in shares of Charles Schwab by 13.4% during the 4th quarter. Northern Trust Corp now owns 15,739,917 shares of the financial services provider's stock worth $1,164,911,000 after acquiring an additional 1,864,286 shares in the last quarter. Invesco Ltd. boosted its stake in Charles Schwab by 3.0% in the fourth quarter. Invesco Ltd. now owns 14,842,544 shares of the financial services provider's stock valued at $1,098,497,000 after acquiring an additional 430,250 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Charles Schwab by 27.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,653,684 shares of the financial services provider's stock worth $862,489,000 after purchasing an additional 2,511,082 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Trading Up 0.6%

NYSE SCHW traded up $0.55 on Friday, reaching $97.05. 9,105,646 shares of the company were exchanged, compared to its average volume of 8,598,255. The Charles Schwab Corporation has a fifty-two week low of $61.15 and a fifty-two week high of $98.28. The stock has a market capitalization of $176.33 billion, a P/E ratio of 26.09, a price-to-earnings-growth ratio of 0.93 and a beta of 0.93. The business's fifty day moving average price is $90.34 and its 200 day moving average price is $82.81. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.53.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings data 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 19.73%. The firm had revenue of $5.85 billion during the quarter, compared to analyst estimates of $5.64 billion. During the same quarter in the prior year, the firm posted $0.73 earnings per share. Charles Schwab's quarterly revenue was up 24.8% on a year-over-year basis. Analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab declared that its Board of Directors has approved a stock repurchase program on Thursday, July 24th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 11.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 8th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend is Friday, August 8th. Charles Schwab's payout ratio is presently 29.03%.

Insider Transactions at Charles Schwab

In related news, insider Paul V. Woolway sold 10,129 shares of the firm's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $90.01, for a total transaction of $911,711.29. Following the completion of the sale, the insider directly owned 39,154 shares of the company's stock, valued at approximately $3,524,251.54. This trade represents a 20.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jonathan M. Craig sold 47,500 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $88.46, for a total transaction of $4,201,850.00. The disclosure for this sale can be found here. Insiders sold a total of 116,313 shares of company stock valued at $10,264,091 in the last ninety days. 6.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

SCHW has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price objective on Charles Schwab from $92.00 to $95.00 and gave the stock an "overweight" rating in a research report on Monday, April 21st. UBS Group lifted their target price on shares of Charles Schwab from $95.00 to $96.00 and gave the stock a "buy" rating in a research note on Tuesday, April 22nd. Barclays raised their price target on shares of Charles Schwab from $106.00 to $113.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Raymond James Financial reaffirmed an "outperform" rating and set a $99.00 price target on shares of Charles Schwab in a research report on Friday, July 18th. Finally, Piper Sandler boosted their target price 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. Two research analysts have rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $98.65.

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.