The Charles Schwab Corporation $SCHW Stock Sold by Provident Trust Co.

Provident Trust Co. reduced its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 32.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,518,637 shares of the financial services provider’s stock after selling 1,197,804 shares during the quarter. Charles Schwab comprises 7.7% of Provident Trust Co.’s holdings, making the stock its 6th largest holding. Provident Trust Co. owned 0.15% of Charles Schwab worth $246,172,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Dala Group LLC increased its stake in Charles Schwab by 5.7% in the third quarter. Dala Group LLC now owns 3,830 shares of the financial services provider’s stock valued at $374,000 after purchasing an additional 205 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its position in shares of Charles Schwab by 0.7% during the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,754,953 shares of the financial services provider’s stock worth $172,055,000 after purchasing an additional 11,782 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Charles Schwab during the 3rd quarter worth about $45,892,000. Aviance Capital Partners LLC grew its stake in shares of Charles Schwab by 0.7% in the 3rd quarter. Aviance Capital Partners LLC now owns 93,077 shares of the financial services provider’s stock valued at $9,097,000 after buying an additional 615 shares during the period. Finally, Profund Advisors LLC grew its stake in shares of Charles Schwab by 10.5% in the 3rd quarter. Profund Advisors LLC now owns 15,141 shares of the financial services provider’s stock valued at $1,480,000 after buying an additional 1,441 shares during the period. 84.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Charles Schwab

In other news, insider Nigel J. Murtagh sold 24,778 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $109.01, for a total value of $2,701,049.78. Following the completion of the sale, the insider owned 57,972 shares in the company, valued at $6,319,527.72. This represents a 29.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan S. Beatty sold 1,000 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $111.33, for a total transaction of $111,330.00. Following the completion of the sale, the insider owned 10,738 shares of the company’s stock, valued at approximately $1,195,461.54. This represents a 8.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 285,734 shares of company stock worth $32,073,309. 6.30% of the stock is currently owned by insiders.

Charles Schwab Stock Performance

Shares of Charles Schwab stock opened at $88.01 on Monday. The company has a market cap of $152.20 billion, a PE ratio of 15.02, a price-to-earnings-growth ratio of 0.78 and a beta of 0.79. The Charles Schwab Corporation has a 52 week low of $83.96 and a 52 week high of $114.53. The business has a 50 day moving average price of $100.52 and a 200-day moving average price of $97.67. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.52.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Thursday, October 15th. The financial services provider reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.03. The company had revenue of $7.17 billion for the quarter, compared to analyst estimates of $7.18 billion. Charles Schwab had a return on equity of 25.79% and a net margin of 39.33%. The company’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same quarter last year, the company earned $1.31 earnings per share. Equities analysts anticipate that The Charles Schwab Corporation will post 6.41 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, November 13th will be paid a dividend of $0.32 per share. The ex-dividend date is Friday, November 13th. This represents a $1.28 annualized dividend and a yield of 1.5%. Charles Schwab’s dividend payout ratio (DPR) is 21.84%.

Analysts Set New Price Targets

Several research firms have recently commented on SCHW. TD Cowen boosted their price objective on Charles Schwab from $128.00 to $129.00 and gave the company a “buy” rating in a report on Monday, October 12th. Jefferies Financial Group set a $120.00 target price on Charles Schwab in a report on Friday, October 16th. UBS Group reduced their price target on shares of Charles Schwab from $113.00 to $109.00 and set a “buy” rating for the company in a research report on Friday, October 16th. Wolfe Research restated an “outperform” rating and set a $127.00 price target (up from $123.00) on shares of Charles Schwab in a research note on Tuesday, July 21st. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Charles Schwab from $150.00 to $147.00 and set an “overweight” rating on the stock in a report on Friday, October 16th. Eighteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Charles Schwab presently has an average rating of “Moderate Buy” and a consensus target price of $119.91.

Charles Schwab Profile

The Charles Schwab Corporation (NYSE: SCHW) is a financial services company that provides investment, wealth management, banking and related services to individual investors, financial professionals and institutional clients. Through its brokerage business, Schwab offers trading and custody services for stocks, exchange-traded funds, mutual funds, options, fixed-income securities and other investments, along with retirement accounts and investment research tools.

The company also provides advisory and wealth management services, including managed portfolios, financial planning and support for registered investment advisors.