Trivium Point Advisory LLC Purchases 27,862 Shares of The Charles Schwab Corporation (NYSE:SCHW)

Key Points

• Trivium Point Advisory LLC increased its holdings in The Charles Schwab Corporation by 408.2%, owning 34,687 shares valued at approximately $2.71 million at the end of the last quarter.
• Charles Schwab reported a 24.8% increase in revenue year-over-year, with earnings per share beating analysts' estimates, reflecting strong financial performance.
• The company announced a $20 billion stock repurchase program, aimed at buying back up to 11.6% of its stock, indicating management's confidence in its own valuation.

Trivium Point Advisory LLC increased its stake in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 408.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,687 shares of the financial services provider's stock after purchasing an additional 27,862 shares during the quarter. Trivium Point Advisory LLC's holdings in Charles Schwab were worth $2,715,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC boosted its stake in Charles Schwab by 380.5% in the fourth quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider's stock valued at $1,794,000 after acquiring an additional 19,195 shares during the last quarter. Sagespring Wealth Partners LLC bought a new position in Charles Schwab in the fourth quarter valued at approximately $467,000. CreativeOne Wealth LLC bought a new position in Charles Schwab in the fourth quarter valued at approximately $411,000. Belpointe Asset Management LLC boosted its stake in Charles Schwab by 9.2% in the fourth quarter. Belpointe Asset Management LLC now owns 11,354 shares of the financial services provider's stock valued at $840,000 after acquiring an additional 958 shares during the last quarter. Finally, Gabelli Funds LLC boosted its stake in Charles Schwab by 0.3% in the fourth quarter. Gabelli Funds LLC now owns 61,237 shares of the financial services provider's stock valued at $4,532,000 after acquiring an additional 162 shares during the last quarter. 84.38% of the stock is owned by institutional investors.

Charles Schwab Stock Down 1.8%

Shares of NYSE:SCHW traded down $1.75 during midday trading on Friday, reaching $96.03. 9,535,466 shares of the company were exchanged, compared to its average volume of 9,194,136. The Charles Schwab Corporation has a fifty-two week low of $61.16 and a fifty-two week high of $99.59. The company has a quick ratio of 0.53, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The stock has a fifty day simple moving average of $93.09 and a two-hundred day simple moving average of $84.91. The firm has a market cap of $174.32 billion, a PE ratio of 25.81, a P/E/G ratio of 0.92 and a beta of 0.96.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.04. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The firm had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.64 billion. During the same period in the previous year, the business earned $0.73 EPS. The company's revenue was up 24.8% compared to the same quarter last year. As a group, sell-side analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab announced that its Board of Directors has initiated a stock repurchase plan on Thursday, July 24th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 11.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 8th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, August 8th. Charles Schwab's payout ratio is presently 29.03%.

Insider Transactions at Charles Schwab

In other Charles Schwab news, Director Paula A. Sneed sold 8,647 shares of Charles Schwab stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $88.06, for a total value of $761,454.82. Following the sale, the director directly owned 105,654 shares in the company, valued at approximately $9,303,891.24. The trade was a 7.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan S. Beatty sold 2,850 shares of Charles Schwab stock in a transaction on Friday, May 30th. The shares were sold at an average price of $87.57, for a total transaction of $249,574.50. Following the completion of the sale, the insider owned 15,219 shares in the company, valued at $1,332,727.83. The trade was a 15.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 308,016 shares of company stock worth $29,341,433. 6.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

SCHW has been the topic of a number of recent research reports. Raymond James Financial reaffirmed an "outperform" rating and issued a $99.00 price objective on shares of Charles Schwab in a research note on Friday, July 18th. Barclays lifted their price target on shares of Charles Schwab from $106.00 to $113.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Wells Fargo & Company set a $102.00 price target on shares of Charles Schwab and gave the stock an "overweight" rating in a research report on Friday, July 18th. Citigroup lifted their price target on shares of Charles Schwab from $105.00 to $110.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Finally, TD Securities lifted their price target on shares of Charles Schwab from $95.00 to $113.00 and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $99.60.

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.