Tritonpoint Wealth LLC Invests $245,000 in The Charles Schwab Corporation $SCHW

Tritonpoint Wealth LLC bought a new position in shares of The Charles Schwab Corporation (NYSE:SCHW) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,688 shares of the financial services provider’s stock, valued at approximately $245,000.

Other institutional investors also recently bought and sold shares of the company. Bain Capital Public Equity Management II LLC purchased a new position in Charles Schwab during the first quarter worth about $79,605,000. Independent Advisor Alliance raised its stake in Charles Schwab by 13.8% during the first quarter. Independent Advisor Alliance now owns 39,103 shares of the financial services provider’s stock worth $3,061,000 after purchasing an additional 4,754 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in Charles Schwab by 6.2% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,181,563 shares of the financial services provider’s stock worth $92,493,000 after purchasing an additional 68,858 shares during the period. United Services Automobile Association raised its stake in Charles Schwab by 14.1% during the first quarter. United Services Automobile Association now owns 39,512 shares of the financial services provider’s stock worth $3,074,000 after purchasing an additional 4,869 shares during the period. Finally, World Investment Advisors raised its stake in Charles Schwab by 7.6% during the first quarter. World Investment Advisors now owns 163,007 shares of the financial services provider’s stock worth $12,760,000 after purchasing an additional 11,505 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Charles Schwab

In related news, General Counsel Peter J. Morgan III sold 50,016 shares of the company’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total value of $4,851,552.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Walter W. Bettinger sold 173,876 shares of the company’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $98.84, for a total transaction of $17,185,903.84. Following the completion of the sale, the chairman owned 590,734 shares of the company’s stock, valued at approximately $58,388,148.56. This trade represents a 22.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 263,923 shares of company stock worth $25,932,955 over the last 90 days. Company insiders own 6.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Truist Financial lifted their price target on shares of Charles Schwab from $107.00 to $112.00 and gave the company a “buy” rating in a research report on Friday, August 15th. Raymond James Financial reiterated an “outperform” rating and set a $99.00 price target on shares of Charles Schwab in a research report on Friday, July 18th. Keefe, Bruyette & Woods lifted their price target on shares of Charles Schwab from $102.00 to $108.00 and gave the company an “outperform” rating in a research report on Monday, July 21st. Citigroup lifted their price target on shares of Charles Schwab from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, July 21st. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Charles Schwab from $114.00 to $113.00 and set a “buy” rating for the company in a research report on Tuesday, September 16th. Sixteen equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Charles Schwab currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.00.

Charles Schwab Stock Up 1.3%

Shares of NYSE:SCHW opened at $96.74 on Tuesday. The company has a market capitalization of $175.60 billion, a PE ratio of 26.01, a P/E/G ratio of 0.94 and a beta of 0.96. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47. The Charles Schwab Corporation has a twelve month low of $62.41 and a twelve month high of $99.59. The firm has a 50 day simple moving average of $95.56 and a 200-day simple moving average of $88.28.

Charles Schwab (NYSE:SCHW) last issued 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. The business had revenue of $5.85 billion during the quarter, compared to the consensus estimate of $5.64 billion. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The company’s revenue was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.73 EPS. On average, equities analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

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

Charles Schwab Dividend Announcement

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

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.