The Charles Schwab Co. (NYSE:SCHW) Stock Holdings Raised by Provident Trust Co.

Provident Trust Co. boosted its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 0.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,323,688 shares of the financial services provider’s stock after acquiring an additional 17,133 shares during the quarter. Charles Schwab accounts for 5.1% of Provident Trust Co.’s portfolio, making the stock its 8th biggest holding. Provident Trust Co. owned about 0.24% of Charles Schwab worth $280,218,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. SpiderRock Advisors LLC grew its stake in Charles Schwab by 10.1% in the third quarter. SpiderRock Advisors LLC now owns 75,441 shares of the financial services provider’s stock valued at $4,889,000 after purchasing an additional 6,939 shares during the last quarter. CWA Asset Management Group LLC purchased a new stake in Charles Schwab during the third quarter valued at approximately $1,858,000. Equitable Trust Co. boosted its stake in Charles Schwab by 7.4% in the third quarter. Equitable Trust Co. now owns 13,493 shares of the financial services provider’s stock valued at $874,000 after acquiring an additional 935 shares in the last quarter. Leavell Investment Management Inc. grew its holdings in Charles Schwab by 71.9% in the third quarter. Leavell Investment Management Inc. now owns 12,026 shares of the financial services provider’s stock worth $779,000 after purchasing an additional 5,029 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in shares of Charles Schwab during the third quarter worth $25,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $73.89 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.42 and a quick ratio of 0.42. The firm’s 50 day simple moving average is $67.24 and its 200-day simple moving average is $69.52. The Charles Schwab Co. has a 12 month low of $53.49 and a 12 month high of $79.49. The stock has a market capitalization of $131.41 billion, a price-to-earnings ratio of 28.86, a PEG ratio of 1.74 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.75 by $0.02. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 17.52%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the business earned $0.77 earnings per share. Analysts expect that The Charles Schwab Co. will post 3.11 EPS for the current year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.35%. Charles Schwab’s payout ratio is 39.06%.

Insider Buying and Selling

In other news, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the business’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $72.16, for a total value of $2,150,368.00. Following the completion of the sale, the director now directly owns 551,329 shares in the company, valued at $39,783,900.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Chairman Charles R. Schwab sold 62,345 shares of Charles Schwab stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total value of $4,521,259.40. Following the sale, the chairman now directly owns 60,619,371 shares in the company, valued at approximately $4,396,116,784.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 29,800 shares of the stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $72.16, for a total value of $2,150,368.00. Following the transaction, the director now directly owns 551,329 shares of the company’s stock, valued at $39,783,900.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,465 shares of company stock valued at $8,050,109. 6.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. JMP Securities boosted their target price on Charles Schwab from $82.00 to $84.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group increased their price objective on shares of Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Jefferies Financial Group dropped their target price on shares of Charles Schwab from $79.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Piper Sandler raised their price target on shares of Charles Schwab from $64.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Finally, Cowen boosted their price objective on shares of Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $73.94.

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.