1,301 Shares in The Charles Schwab Co. (NYSE:SCHW) Purchased by Providence First Trust Co

Providence First Trust Co bought a new stake in shares of The Charles Schwab Co. (NYSE:SCHW) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 1,301 shares of the financial services provider’s stock, valued at approximately $96,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Washington Trust Advisors Inc. grew its stake in shares of Charles Schwab by 62.6% in the third 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. Capital Performance Advisors LLP bought a new stake in Charles Schwab in the 3rd quarter valued at $25,000. Prospera Private Wealth LLC acquired a new stake in Charles Schwab in the 3rd quarter worth $31,000. Hazlett Burt & Watson Inc. bought a new position in shares of Charles Schwab during the 3rd quarter worth about $33,000. Finally, Planning Capital Management Corp acquired a new position in shares of Charles Schwab during the third quarter valued at about $33,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Stock Performance

NYSE SCHW opened at $79.71 on Friday. The firm has a market cap of $141.99 billion, a price-to-earnings ratio of 26.66, a PEG ratio of 0.99 and a beta of 0.99. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $84.50. The company has a 50 day moving average of $78.37 and a 200-day moving average of $73.54.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.11. The firm had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 EPS. On average, equities analysts forecast that The Charles Schwab Co. will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.35%. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio is currently 36.12%.

Insiders Place Their Bets

In other Charles Schwab news, Chairman Walter W. Bettinger sold 464,629 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the transaction, the chairman now owns 827,377 shares of the company’s stock, valued at approximately $67,770,450.07. This represents a 35.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arun Sarin sold 8,548 shares of the stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total value of $699,397.36. Following the completion of the transaction, the director now owns 18,617 shares in the company, valued at $1,523,242.94. The trade was a 31.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 487,820 shares of company stock valued at $39,938,849 in the last 90 days. 6.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SCHW shares. Wells Fargo & Company raised Charles Schwab from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $89.00 to $93.00 in a research report on Wednesday, January 22nd. Morgan Stanley lifted their price objective on Charles Schwab from $84.00 to $91.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft upped their target price on Charles Schwab from $98.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Keefe, Bruyette & Woods lifted their price target on shares of Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a research note on Friday, December 20th. Finally, Piper Sandler boosted their price target on shares of Charles Schwab from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Charles Schwab currently has an average rating of “Hold” and an average price target of $86.33.

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.