The Charles Schwab Co. (NYSE:SCHW) Stock Position Increased by Provident Trust Co.

Provident Trust Co. raised its stake in The Charles Schwab Co. (NYSE:SCHW) by 7.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,646,078 shares of the financial services provider’s stock after acquiring an additional 322,390 shares during the period. Charles Schwab makes up 6.0% of Provident Trust Co.’s portfolio, making the stock its 8th biggest position. Provident Trust Co. owned approximately 0.26% of Charles Schwab worth $343,856,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. Merit Financial Group LLC grew its position in Charles Schwab by 230.1% during the fourth quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider’s stock valued at $2,483,000 after buying an additional 23,383 shares during the period. Benjamin Edwards Inc. increased its stake in shares of Charles Schwab by 2,840.7% in the 3rd quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock worth $398,000 after purchasing an additional 5,937 shares in the last quarter. Synovus Financial Corp raised its holdings in Charles Schwab by 46.0% in the 3rd quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock worth $4,400,000 after purchasing an additional 21,377 shares during the period. Oregon Pacific Wealth Management LLC bought a new position in shares of Charles Schwab during the 4th quarter valued at approximately $688,000. Finally, Golden State Equity Partners lifted its holdings in Charles Schwab by 293.9% during the fourth quarter. Golden State Equity Partners now owns 12,207 shares of the financial services provider’s stock valued at $903,000 after purchasing an additional 9,108 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on SCHW shares. Barclays upped their price target on Charles Schwab from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. UBS Group lifted their price target on shares of Charles Schwab from $90.00 to $95.00 and gave the company a “buy” rating in a report on Monday, January 27th. Redburn Partners dropped their price objective on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating for the company in a report on Friday, January 17th. JMP Securities restated a “market outperform” rating and set a $94.00 price objective (up previously from $84.00) on shares of Charles Schwab in a research report on Monday, December 9th. Finally, Truist Financial boosted their target price on Charles Schwab from $90.00 to $91.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $84.56.

Insider Transactions at Charles Schwab

In related news, insider Jonathan S. Beatty sold 2,300 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $82.01, for a total transaction of $188,623.00. Following the completion of the transaction, the insider now directly owns 18,069 shares of the company’s stock, valued at $1,481,838.69. This represents a 11.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Nigel J. Murtagh sold 12,739 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $81.17, for a total value of $1,034,024.63. Following the completion of the sale, the insider now directly owns 59,092 shares of the company’s stock, valued at $4,796,497.64. This represents a 17.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 502,859 shares of company stock valued at $41,161,496. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Stock Performance

Shares of SCHW stock opened at $80.32 on Tuesday. The Charles Schwab Co. has a one year low of $61.01 and a one year high of $84.50. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The firm’s 50 day moving average price is $78.03 and its 200-day moving average price is $72.45. The firm has a market cap of $142.94 billion, a P/E ratio of 26.86, a P/E/G ratio of 1.02 and a beta of 0.99.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.90 by $0.11. The business had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.68 earnings per share. As a group, equities research analysts predict that The Charles Schwab Co. will post 4.18 EPS for the current year.

Charles Schwab Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.34%. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio is presently 33.44%.

Charles Schwab 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.