TriaGen Wealth Management LLC Makes New $345,000 Investment in The Charles Schwab Corporation $SCHW

Key Points

• TriaGen Wealth Management LLC has made a new investment of $345,000 in The Charles Schwab Corporation by purchasing 3,781 shares during the second quarter.
• Insider Jonathan S. Beatty sold 6,144 shares of Schwab stock, decreasing his position by 34.01%, while total insider sales in the last three months reached $26.2 million.
• Charles Schwab's recent earnings report showed $1.14 EPS, beating estimates, with a 24.8% increase in revenue year-over-year, and the company has approved a $20 billion buyback plan.

TriaGen Wealth Management LLC purchased a new stake in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,781 shares of the financial services provider's stock, valued at approximately $345,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in SCHW. Pine Haven Investment Counsel Inc lifted its stake in shares of Charles Schwab by 0.3% in the 2nd quarter. Pine Haven Investment Counsel Inc now owns 41,793 shares of the financial services provider's stock valued at $3,813,000 after purchasing an additional 110 shares during the period. Traveka Wealth LLC increased its holdings in Charles Schwab by 4.3% in the second quarter. Traveka Wealth LLC now owns 2,841 shares of the financial services provider's stock valued at $259,000 after buying an additional 117 shares in the last quarter. Bank of Stockton increased its holdings in Charles Schwab by 1.2% in the second quarter. Bank of Stockton now owns 10,593 shares of the financial services provider's stock valued at $967,000 after buying an additional 123 shares in the last quarter. Sheaff Brock Investment Advisors LLC raised its position in shares of Charles Schwab by 1.6% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 7,986 shares of the financial services provider's stock worth $625,000 after acquiring an additional 129 shares during the period. Finally, HM Payson & Co. boosted its stake in shares of Charles Schwab by 0.7% during the 1st quarter. HM Payson & Co. now owns 19,271 shares of the financial services provider's stock worth $1,509,000 after acquiring an additional 130 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

Insider Activity at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 6,144 shares of the company's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $96.81, for a total value of $594,800.64. Following the completion of the sale, the insider directly owned 11,923 shares in the company, valued at $1,154,265.63. This represents a 34.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nigel J. Murtagh sold 24,096 shares of Charles Schwab stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $97.91, for a total value of $2,359,239.36. Following the transaction, the insider owned 58,999 shares in the company, valued at approximately $5,776,592.09. This represents a 29.00% 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 valued at $26,232,077 in the last three months. Company insiders own 6.30% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on SCHW shares. Truist Financial set a $112.00 price target on Charles Schwab in a research note on Thursday. Raymond James Financial reissued an "outperform" rating and issued a $99.00 price objective on shares of Charles Schwab in a report on Friday, July 18th. Wells Fargo & Company set a $102.00 target price on Charles Schwab and gave the stock an "overweight" rating in a research note on Friday, July 18th. Deutsche Bank Aktiengesellschaft decreased their target price on Charles Schwab from $114.00 to $113.00 and set a "buy" rating on the stock in a research report on Tuesday, September 16th. Finally, William Blair cut shares of Charles Schwab from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 3rd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $100.52.

Charles Schwab Stock Performance

NYSE:SCHW opened at $93.98 on Tuesday. The company has a market cap of $170.59 billion, a P/E ratio of 25.26, a P/E/G ratio of 0.91 and a beta of 0.97. The Charles Schwab Corporation has a twelve month low of $64.16 and a twelve month high of $99.59. The company's 50-day moving average price is $95.29 and its 200-day moving average price is $88.82. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 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 the consensus estimate of $5.64 billion. During the same quarter in the prior year, the firm earned $0.73 EPS. Charles Schwab's quarterly revenue was up 24.8% on a year-over-year basis. On average, sell-side analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab announced that its board has approved a stock buyback plan on Thursday, July 24th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 11.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board believes its shares are undervalued.

Charles Schwab Dividend Announcement

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

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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