Atria Wealth Solutions Inc. Sells 6,290 Shares of The Charles Schwab Corporation $SCHW

Key Points

• Atria Wealth Solutions Inc. has reduced its holdings in The Charles Schwab Corporation by 20.7%, selling 6,290 shares during the second quarter, bringing its total shares to 24,103 valued at over $2.2 million.
• Several institutional investors, including Vanguard Group Inc. and Price T Rowe Associates Inc., have increased their stakes in Charles Schwab, indicating strong interest among major investors.
• Charles Schwab has recently announced a $20 billion share repurchase plan, reflecting management's belief that the stock is undervalued, and it has a dividend yield of 1.1%.

Atria Wealth Solutions Inc. reduced its holdings in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 20.7% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,103 shares of the financial services provider's stock after selling 6,290 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Charles Schwab were worth $2,199,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Charles Schwab by 15.4% in the 1st quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider's stock worth $11,616,380,000 after acquiring an additional 19,817,022 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Charles Schwab by 12.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider's stock valued at $6,422,795,000 after purchasing an additional 8,954,248 shares during the last quarter. Northern Trust Corp increased its position in shares of Charles Schwab by 10.8% during the 1st quarter. Northern Trust Corp now owns 17,440,301 shares of the financial services provider's stock valued at $1,365,227,000 after purchasing an additional 1,700,384 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Charles Schwab by 16.0% during the 1st quarter. Alliancebernstein L.P. now owns 17,115,759 shares of the financial services provider's stock valued at $1,339,822,000 after purchasing an additional 2,355,309 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Charles Schwab by 5.0% during the 1st quarter. Invesco Ltd. now owns 15,586,450 shares of the financial services provider's stock valued at $1,220,107,000 after purchasing an additional 743,906 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on SCHW. Keefe, Bruyette & Woods increased their price objective on Charles Schwab from $102.00 to $108.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. Barclays reiterated an "overweight" rating and set a $114.00 price objective on shares of Charles Schwab in a research report on Wednesday, October 8th. Truist Financial set a $112.00 price objective on Charles Schwab in a research report on Thursday, October 2nd. Bank of America increased their price objective on Charles Schwab from $84.00 to $86.00 and gave the company an "underperform" rating in a research report on Thursday, October 2nd. Finally, Morgan Stanley reduced their price objective on Charles Schwab to $130.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 1st. One 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 issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $101.85.

Charles Schwab Trading Up 1.2%

NYSE SCHW opened at $94.51 on Thursday. The Charles Schwab Corporation has a fifty-two week low of $65.88 and a fifty-two week 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. The stock has a 50 day simple moving average of $94.79 and a two-hundred day simple moving average of $89.37. The stock has a market cap of $171.55 billion, a P/E ratio of 25.41, a price-to-earnings-growth ratio of 0.89 and a beta of 0.97.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.04. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The business had revenue of $5.85 billion during the quarter, compared to analysts' expectations of $5.64 billion. During the same quarter last year, the business posted $0.73 EPS. The business's revenue was up 24.8% on a year-over-year basis. On average, analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, August 8th. Charles Schwab's dividend payout ratio (DPR) is presently 29.03%.

Charles Schwab declared that its board has approved a share buyback plan on Thursday, July 24th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 11.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, 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 value of $4,851,552.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul V. Woolway sold 3,290 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $96.06, for a total value of $316,037.40. Following the completion of the transaction, the insider owned 41,188 shares of the company's stock, valued at approximately $3,956,519.28. The trade was a 7.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 267,128 shares of company stock worth $26,232,077 over the last quarter. Company insiders own 6.30% of the company's stock.

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.

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