Provident Investment Management Inc. Trims Position in The Charles Schwab Corporation $SCHW

Provident Investment Management Inc. reduced its stake in The Charles Schwab Corporation (NYSE:SCHW – Free Report) by 3.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 513,927 shares of the financial services provider’s stock after selling 15,869 shares during the period. Charles Schwab comprises 4.7% of Provident Investment Management Inc.’s investment portfolio, making the stock its 8th largest position. Provident Investment Management Inc.’s holdings in Charles Schwab were worth $51,346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Meridian Wealth Management LLC increased its stake in shares of Charles Schwab by 27.0% in the fourth quarter. Meridian Wealth Management LLC now owns 6,521 shares of the financial services provider’s stock worth $652,000 after buying an additional 1,386 shares during the period. HighPoint Advisor Group LLC boosted its position in Charles Schwab by 9.3% during the 4th quarter. HighPoint Advisor Group LLC now owns 35,924 shares of the financial services provider’s stock valued at $3,589,000 after buying an additional 3,057 shares during the period. First National Advisers LLC boosted its position in Charles Schwab by 590.8% during the 4th quarter. First National Advisers LLC now owns 51,206 shares of the financial services provider’s stock valued at $5,116,000 after buying an additional 43,793 shares during the period. KLCM Advisors Inc. grew its holdings in Charles Schwab by 18.4% in the 4th quarter. KLCM Advisors Inc. now owns 5,835 shares of the financial services provider’s stock worth $583,000 after acquiring an additional 906 shares during the last quarter. Finally, Fusion Capital LLC grew its holdings in Charles Schwab by 3.6% in the 4th quarter. Fusion Capital LLC now owns 15,479 shares of the financial services provider’s stock worth $1,547,000 after acquiring an additional 543 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company’s stock.

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Insider Transactions at Charles Schwab

In other Charles Schwab news, Director Frank C. Herringer sold 2,520 shares of the firm’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $90.60, for a total transaction of $228,312.00. Following the completion of the transaction, the director owned 177,508 shares of the company’s stock, valued at approximately $16,082,224.80. This trade represents a 1.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Paul V. Woolway sold 7,941 shares of the business’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $100.00, for a total transaction of $794,100.00. Following the sale, the insider owned 29,866 shares in the company, valued at approximately $2,986,600. This trade represents a 21.00% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 126,924 shares of company stock valued at $12,268,634. Company insiders own 6.30% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on SCHW shares. Jefferies Financial Group lowered their price objective on shares of Charles Schwab from $122.00 to $118.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Piper Sandler raised their target price on Charles Schwab from $100.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Barclays reduced their price target on Charles Schwab from $126.00 to $117.00 and set an “overweight” rating on the stock in a report on Wednesday, April 8th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $127.00 price objective on shares of Charles Schwab in a report on Friday, April 17th. Finally, Citigroup reiterated a “market outperform” rating on shares of Charles Schwab in a research report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $114.00.

Check Out Our Latest Research Report on SCHW

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $87.82 on Tuesday. The Charles Schwab Corporation has a 1 year low of $84.06 and a 1 year high of $107.50. The stock has a market capitalization of $152.64 billion, a P/E ratio of 17.42, a P/E/G ratio of 0.70 and a beta of 0.80. The company’s 50-day moving average is $93.42 and its 200 day moving average is $96.08. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.62 and a quick ratio of 0.62.

Charles Schwab (NYSE:SCHW – Get Free Report) last issued its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.39 by $0.04. The business had revenue of $6.48 billion during the quarter, compared to analyst estimates of $6.39 billion. Charles Schwab had a net margin of 37.99% and a return on equity of 23.03%. Charles Schwab’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period last year, the business posted $1.04 earnings per share. Charles Schwab has set its FY 2026 guidance at 5.700-5.800 EPS. On average, sell-side analysts expect that The Charles Schwab Corporation will post 5.99 earnings per share for the current year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Friday, May 8th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Friday, May 8th. Charles Schwab’s dividend payout ratio (DPR) is presently 25.40%.

Charles Schwab Profile

(Free Report)

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.

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