Providence Wealth Advisors LLC Purchases 400 Shares of The Charles Schwab Co. (NYSE:SCHW)

Providence Wealth Advisors LLC raised its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 2.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 16,807 shares of the financial services provider’s stock after purchasing an additional 400 shares during the period. Providence Wealth Advisors LLC’s holdings in Charles Schwab were worth $1,203,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Alliance Wealth Advisors LLC lifted its stake in shares of Charles Schwab by 2.7% during the 3rd quarter. Alliance Wealth Advisors LLC now owns 5,358 shares of the financial services provider’s stock worth $347,000 after acquiring an additional 142 shares during the last quarter. GS Investments Inc. lifted its stake in shares of Charles Schwab by 0.3% during the 3rd quarter. GS Investments Inc. now owns 57,434 shares of the financial services provider’s stock worth $3,722,000 after acquiring an additional 146 shares during the last quarter. Washington Trust Advisors Inc. lifted its stake in shares of Charles Schwab by 62.6% during the 3rd quarter. Washington Trust Advisors Inc. now owns 387 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 149 shares during the last quarter. Arcataur Capital Management LLC lifted its stake in shares of Charles Schwab by 2.3% during the 3rd quarter. Arcataur Capital Management LLC now owns 6,648 shares of the financial services provider’s stock worth $431,000 after acquiring an additional 150 shares during the last quarter. Finally, Tandem Capital Management Corp ADV lifted its stake in shares of Charles Schwab by 0.3% during the 3rd quarter. Tandem Capital Management Corp ADV now owns 49,537 shares of the financial services provider’s stock worth $3,210,000 after acquiring an additional 150 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Nigel J. Murtagh sold 12,739 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $81.17, for a total transaction of $1,034,024.63. Following the sale, the insider now owns 59,092 shares in the company, valued at approximately $4,796,497.64. The trade was a 17.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Charles R. Schwab sold 62,345 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $72.52, for a total value of $4,521,259.40. Following the sale, the chairman now owns 60,619,371 shares in the company, valued at approximately $4,396,116,784.92. The trade was a 0.10 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 127,968 shares of company stock worth $9,419,271. 6.60% of the stock is currently owned by insiders.

Charles Schwab Stock Up 0.4 %

Shares of SCHW stock opened at $82.60 on Friday. The Charles Schwab Co. has a 1-year low of $55.59 and a 1-year high of $82.65. The stock’s fifty day moving average price is $72.02 and its 200 day moving average price is $70.03. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The company has a market cap of $147.00 billion, a price-to-earnings ratio of 32.27, a price-to-earnings-growth ratio of 1.79 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.02. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the previous year, the business earned $0.77 EPS. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, research analysts expect that The Charles Schwab Co. will post 3.12 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 1.21%. Charles Schwab’s payout ratio is presently 39.06%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Piper Sandler lifted their target price on Charles Schwab from $64.00 to $65.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods lifted their target price on Charles Schwab from $76.00 to $81.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group lifted their target price on Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. StockNews.com raised Charles Schwab from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, Cowen lifted their target price on Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $74.18.

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.