Provence Wealth Management Group Grows Stake in The Charles Schwab Co. (NYSE:SCHW)

Provence Wealth Management Group increased its holdings in The Charles Schwab Co. (NYSE:SCHW) by 1,873.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,946 shares of the financial services provider’s stock after buying an additional 3,746 shares during the period. Provence Wealth Management Group’s holdings in Charles Schwab were worth $271,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Sugarloaf Wealth Management LLC lifted its stake in Charles Schwab by 60.0% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 165 shares during the last quarter. Wetzel Investment Advisors Inc. purchased a new position in shares of Charles Schwab during the fourth quarter worth approximately $31,000. Hall Laurie J Trustee bought a new stake in shares of Charles Schwab in the 4th quarter worth approximately $34,000. Providence Capital Advisors LLC bought a new position in shares of Charles Schwab during the 3rd quarter valued at $28,000. Finally, Glass Jacobson Investment Advisors llc lifted its stake in Charles Schwab by 81.0% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 599 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 268 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Piper Sandler lifted their target price on shares of Charles Schwab from $75.00 to $78.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. Deutsche Bank Aktiengesellschaft increased their price objective on Charles Schwab from $75.00 to $77.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. TD Cowen upped their target price on Charles Schwab from $87.00 to $92.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Morgan Stanley lifted their price target on shares of Charles Schwab from $65.00 to $71.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Finally, Raymond James dropped their target price on shares of Charles Schwab from $78.00 to $75.00 and set an “outperform” rating for the company in a research report on Thursday, January 18th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Charles Schwab currently has an average rating of “Hold” and an average price target of $74.47.

Charles Schwab Stock Performance

Shares of NYSE SCHW traded up $0.71 during midday trading on Friday, hitting $76.04. 5,414,735 shares of the company’s stock traded hands, compared to its average volume of 7,577,556. The firm has a fifty day moving average of $70.75 and a 200 day moving average of $64.63. The Charles Schwab Co. has a 1 year low of $45.65 and a 1 year high of $76.47. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.43 and a current ratio of 0.43. The stock has a market capitalization of $135.05 billion, a price-to-earnings ratio of 31.82, a price-to-earnings-growth ratio of 1.10 and a beta of 0.98.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date is Thursday, May 9th. Charles Schwab’s payout ratio is 41.84%.

Insider Transactions at Charles Schwab

In other news, insider Nigel J. Murtagh sold 29,991 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $67.80, for a total value of $2,033,389.80. Following the completion of the sale, the insider now directly owns 81,446 shares of the company’s stock, valued at $5,522,038.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Chairman Charles R. Schwab sold 71,226 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $64.99, for a total transaction of $4,628,977.74. Following the completion of the transaction, the chairman now owns 61,251,038 shares in the company, valued at $3,980,704,959.62. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nigel J. Murtagh sold 29,991 shares of Charles Schwab stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $67.80, for a total transaction of $2,033,389.80. Following the completion of the sale, the insider now owns 81,446 shares in the company, valued at $5,522,038.80. The disclosure for this sale can be found here. Insiders have sold 514,459 shares of company stock valued at $36,371,155 over the last quarter. 6.60% of the stock is currently owned by company insiders.

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.