The Charles Schwab Corporation $SCHW Shares Acquired by Atalanta Sosnoff Capital LLC

Atalanta Sosnoff Capital LLC increased its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 2.3% during the 1st quarter, Holdings Channel reports. The fund owned 806,385 shares of the financial services provider’s stock after purchasing an additional 18,380 shares during the quarter. Charles Schwab makes up about 1.5% of Atalanta Sosnoff Capital LLC’s investment portfolio, making the stock its 22nd largest position. Atalanta Sosnoff Capital LLC’s holdings in Charles Schwab were worth $63,124,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the business. Brighton Jones LLC lifted its position in Charles Schwab by 380.5% during the fourth quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider’s stock worth $1,794,000 after buying an additional 19,195 shares in the last quarter. Aptus Capital Advisors LLC lifted its holdings in Charles Schwab by 22.5% during the 4th quarter. Aptus Capital Advisors LLC now owns 13,144 shares of the financial services provider’s stock worth $973,000 after buying an additional 2,416 shares during the last quarter. Caxton Associates LP purchased a new stake in Charles Schwab during the 4th quarter worth about $603,000. Cary Street Partners Financial LLC purchased a new stake in shares of Charles Schwab in the 4th quarter valued at about $1,455,000. Finally, Captrust Financial Advisors lifted its holdings in shares of Charles Schwab by 14.9% in the 4th quarter. Captrust Financial Advisors now owns 266,342 shares of the financial services provider’s stock valued at $19,712,000 after purchasing an additional 34,451 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Up 0.1%

Shares of SCHW opened at $95.97 on Wednesday. The company has a 50-day simple moving average of $94.87 and a 200-day simple moving average of $86.06. The firm has a market capitalization of $174.21 billion, a P/E ratio of 25.80, a P/E/G ratio of 0.94 and a beta of 0.96. 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 Charles Schwab Corporation has a 52 week low of $61.16 and a 52 week high of $99.59.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. The business had revenue of $5.85 billion for the quarter, compared to analysts’ expectations of $5.64 billion. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The firm’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.73 earnings per share. On average, equities research analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab’s dividend payout ratio is 29.03%.

Charles Schwab announced that its board has authorized a stock buyback program on Thursday, July 24th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 11.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several research firms have issued reports on SCHW. Morgan Stanley boosted their target price on Charles Schwab from $117.00 to $131.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Barclays increased their price target on Charles Schwab from $106.00 to $113.00 and gave the stock an “overweight” rating in a research note on Friday, July 18th. Cowen reiterated a “buy” rating on shares of Charles Schwab in a report on Tuesday, May 20th. Wells Fargo & Company set a $102.00 target price on Charles Schwab and gave the company an “overweight” rating in a research note on Friday, July 18th. Finally, Redburn Atlantic raised shares of Charles Schwab from a “sell” rating to a “neutral” rating and raised their target price for the stock from $65.00 to $82.00 in a report on Monday, June 9th. Sixteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $99.60.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 6,144 shares of the firm’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $96.81, for a total value of $594,800.64. Following the transaction, the insider directly owned 11,923 shares of the company’s stock, valued at approximately $1,154,265.63. This trade represents a 34.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nigel J. Murtagh sold 24,096 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $97.91, for a total transaction of $2,359,239.36. Following the completion of the transaction, the insider directly owned 58,999 shares in the company, valued at approximately $5,776,592.09. The trade was a 29.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 295,009 shares of company stock valued at $28,717,464 over the last three months. Insiders own 6.30% of the company’s stock.

Charles Schwab Company 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.