Atria Investments Inc Lowers Position in The Charles Schwab Co. (NYSE:SCHW)

Atria Investments Inc lessened its stake in The Charles Schwab Co. (NYSE:SCHW) by 10.5% during the 4th quarter, HoldingsChannel reports. The firm owned 141,169 shares of the financial services provider’s stock after selling 16,543 shares during the quarter. Atria Investments Inc’s holdings in Charles Schwab were worth $10,448,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of SCHW. Franklin Resources Inc. boosted its position in Charles Schwab by 15.0% in the 3rd quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock worth $1,644,674,000 after purchasing an additional 3,157,923 shares in the last quarter. Veritas Asset Management LLP purchased a new stake in Charles Schwab in the 4th quarter worth approximately $185,649,000. Massachusetts Financial Services Co. MA boosted its position in Charles Schwab by 6.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock worth $1,858,706,000 after purchasing an additional 1,711,312 shares in the last quarter. KBC Group NV boosted its position in Charles Schwab by 186.7% in the 4th quarter. KBC Group NV now owns 2,138,033 shares of the financial services provider’s stock worth $158,236,000 after purchasing an additional 1,392,255 shares in the last quarter. Finally, Two Sigma Advisers LP purchased a new stake in Charles Schwab in the 3rd quarter worth approximately $86,845,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Transactions at Charles Schwab

In related news, Chairman Walter W. Bettinger sold 464,629 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the completion of the transaction, the chairman now directly owns 827,377 shares in the company, valued at $67,770,450.07. This trade represents a 35.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Paul V. Woolway sold 3,380 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $79.32, for a total value of $268,101.60. Following the transaction, the insider now owns 57,818 shares of the company’s stock, valued at $4,586,123.76. This trade represents a 5.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 491,200 shares of company stock worth $40,206,950. 6.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

SCHW has been the subject of several research analyst reports. Redburn Partners reduced their target price on Charles Schwab from $70.00 to $68.00 and set a “sell” rating for the company in a research note on Friday, January 17th. Piper Sandler upped their target price on Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Citigroup upped their target price on Charles Schwab from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Morgan Stanley upped their target price on Charles Schwab from $84.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Finally, TD Cowen raised Charles Schwab from a “hold” rating to a “buy” rating and upped their target price for the stock from $88.00 to $103.00 in a research note on Tuesday, February 18th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $86.33.

Charles Schwab Stock Up 2.3 %

Shares of NYSE:SCHW opened at $76.88 on Thursday. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The business has a fifty day moving average of $78.49 and a two-hundred day moving average of $73.85. The stock has a market cap of $139.42 billion, a P/E ratio of 25.71, a PEG ratio of 0.99 and a beta of 0.98. The Charles Schwab Co. has a 52-week low of $61.01 and a 52-week high of $84.50.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. The business had revenue of $5.33 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The company’s revenue was up 19.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.68 EPS. On average, research analysts expect that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.40%. Charles Schwab’s dividend payout ratio is currently 36.12%.

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.