Providence Wealth Advisors LLC Increases Holdings in The Charles Schwab Co. (NYSE:SCHW)

Providence Wealth Advisors LLC lifted its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 2.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,807 shares of the financial services provider’s stock after buying an additional 400 shares during the period. Providence Wealth Advisors LLC’s holdings in Charles Schwab were worth $1,203,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Country Trust Bank bought a new position in Charles Schwab during the 2nd quarter worth approximately $26,000. Capital Performance Advisors LLP bought a new position in Charles Schwab during the 3rd quarter worth approximately $25,000. Washington Trust Advisors Inc. grew its position in Charles Schwab by 62.6% during the 3rd 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. Fortitude Family Office LLC grew its position in Charles Schwab by 97.5% during the 2nd quarter. Fortitude Family Office LLC now owns 389 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 192 shares during the last quarter. Finally, American Capital Advisory LLC bought a new position in Charles Schwab during the 2nd quarter worth approximately $27,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Stock Up 0.4 %

Shares of NYSE:SCHW opened at $82.60 on Friday. The stock has a fifty day simple moving average of $72.02 and a two-hundred day simple moving average of $70.03. The stock has a market capitalization of $147.00 billion, a price-to-earnings ratio of 32.27, a PEG ratio of 1.79 and a beta of 0.96. The Charles Schwab Co. has a 12-month low of $55.59 and a 12-month high of $82.65. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. The business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.77 earnings per share. On average, research analysts anticipate that The Charles Schwab Co. will post 3.12 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend was Friday, November 8th. Charles Schwab’s dividend payout ratio is currently 39.06%.

Insider Transactions at Charles Schwab

In other news, insider Jonathan S. Beatty sold 2,300 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $82.01, for a total value of $188,623.00. Following the completion of the transaction, the insider now owns 18,069 shares in the company, valued at $1,481,838.69. The trade was a 11.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total value of $576,450.00. Following the completion of the transaction, the director now owns 554,929 shares of the company’s stock, valued at $35,543,202.45. This represents a 1.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 127,968 shares of company stock worth $9,419,271 over the last quarter. 6.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SCHW shares. Wells Fargo & Company raised their price target on Charles Schwab from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Raymond James cut their price objective on Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. JPMorgan Chase & Co. lifted their price objective on Charles Schwab from $86.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Citigroup cut their price objective on Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a research report on Friday, September 27th. Finally, JMP Securities lifted their price objective on Charles Schwab from $82.00 to $84.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Charles Schwab currently has a consensus rating of “Hold” and an average target price of $74.18.

Charles Schwab Company 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.