The Charles Schwab Co. (NYSE:SCHW) Stock Position Lowered by Providence Wealth Advisors LLC

Providence Wealth Advisors LLC lowered its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 2.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,364 shares of the financial services provider’s stock after selling 443 shares during the quarter. Providence Wealth Advisors LLC’s holdings in Charles Schwab were worth $1,225,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of SCHW. Murphy & Mullick Capital Management Corp bought a new stake in shares of Charles Schwab during the 4th quarter worth $38,000. Atala Financial Inc purchased a new position in Charles Schwab in the 4th quarter worth about $41,000. Knuff & Co LLC raised its holdings in Charles Schwab by 1,309.3% during the 4th quarter. Knuff & Co LLC now owns 606 shares of the financial services provider’s stock worth $45,000 after buying an additional 563 shares during the period. Financial Life Planners acquired a new position in shares of Charles Schwab in the 4th quarter valued at about $46,000. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Charles Schwab during the fourth quarter worth approximately $46,000. 84.38% of the stock is owned by institutional investors and hedge funds.

Charles Schwab Stock Performance

NYSE SCHW opened at $80.12 on Thursday. The Charles Schwab Co. has a 12-month low of $61.01 and a 12-month high of $84.50. The firm has a 50-day moving average price of $79.44 and a two-hundred day moving average price of $75.14. The company has a market capitalization of $145.30 billion, a P/E ratio of 26.80, a P/E/G ratio of 0.99 and a beta of 0.98. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW) last released its earnings results 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. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The firm had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same period last year, the firm earned $0.68 EPS. The business’s quarterly revenue was up 19.5% compared to the same quarter last year. Analysts anticipate that The Charles Schwab Co. will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a $0.27 dividend. The ex-dividend date of this dividend was Friday, February 14th. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 1.35%. Charles Schwab’s dividend payout ratio (DPR) is currently 36.12%.

Analysts Set New Price Targets

Several research firms have weighed in on SCHW. Barclays upped their price objective on shares of Charles Schwab from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. TD Cowen raised Charles Schwab from a “hold” rating to a “buy” rating and raised their price objective for the company from $88.00 to $103.00 in a research note on Tuesday, February 18th. UBS Group upped their target price on Charles Schwab from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Redburn Partners dropped their price target on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating on the stock in a research report on Friday, January 17th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Charles Schwab from $98.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $86.33.

Insider Buying and Selling

In related news, insider Paul V. Woolway sold 9,887 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $75.38, for a total value of $745,282.06. Following the completion of the sale, the insider now directly owns 47,931 shares in the company, valued at $3,613,038.78. This represents a 17.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Peter J. Morgan III sold 14,643 shares of Charles Schwab stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $80.70, for a total value of $1,181,690.10. The disclosure for this sale can be found here. Insiders have sold a total of 501,087 shares of company stock worth $40,952,233 in the last ninety days. Company insiders own 6.60% of the company’s stock.

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.