The Charles Schwab Corporation $SCHW is Provident Investment Management Inc.’s 9th Largest Position

Provident Investment Management Inc. decreased its position in The Charles Schwab Corporation (NYSE:SCHW) by 14.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 529,796 shares of the financial services provider’s stock after selling 91,057 shares during the quarter. Charles Schwab comprises 4.5% of Provident Investment Management Inc.’s investment portfolio, making the stock its 9th largest holding. Provident Investment Management Inc.’s holdings in Charles Schwab were worth $50,580,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Advisory Services Network LLC grew its position in Charles Schwab by 17.8% in the third quarter. Advisory Services Network LLC now owns 26,162 shares of the financial services provider’s stock worth $2,498,000 after acquiring an additional 3,954 shares in the last quarter. Hancock Whitney Corp raised its holdings in Charles Schwab by 42.7% during the third quarter. Hancock Whitney Corp now owns 19,761 shares of the financial services provider’s stock valued at $1,887,000 after buying an additional 5,909 shares in the last quarter. Morningstar Investment Management LLC acquired a new stake in shares of Charles Schwab in the third quarter worth about $8,952,000. NewEdge Advisors LLC boosted its stake in shares of Charles Schwab by 55.8% during the 3rd quarter. NewEdge Advisors LLC now owns 155,095 shares of the financial services provider’s stock worth $14,807,000 after acquiring an additional 55,534 shares in the last quarter. Finally, Castleark Management LLC increased its holdings in shares of Charles Schwab by 78.7% during the 3rd quarter. Castleark Management LLC now owns 611,674 shares of the financial services provider’s stock valued at $58,397,000 after acquiring an additional 269,434 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Wall Street Analysts Forecast Growth

SCHW has been the subject of a number of recent analyst reports. Citigroup reaffirmed a “market outperform” rating on shares of Charles Schwab in a research report on Monday, January 12th. TD Cowen raised their target price on shares of Charles Schwab from $135.00 to $138.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Citizens Jmp lifted their target price on shares of Charles Schwab from $110.00 to $120.00 and gave the stock a “market outperform” rating in a report on Monday, January 12th. Piper Sandler boosted their price objective on Charles Schwab from $100.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Charles Schwab in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $115.95.

Charles Schwab Trading Up 0.3%

Shares of SCHW opened at $93.95 on Wednesday. The stock’s 50-day moving average price is $98.58 and its 200 day moving average price is $96.29. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $164.62 billion, a price-to-earnings ratio of 20.16, a P/E/G ratio of 0.75 and a beta of 0.93. The Charles Schwab Corporation has a 12-month low of $65.88 and a 12-month high of $107.50.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.07. The firm had revenue of $6.34 billion for the quarter, compared to the consensus estimate of $6.19 billion. Charles Schwab had a net margin of 37.01% and a return on equity of 21.97%. The business’s revenue was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.01 earnings per share. Charles Schwab has set its FY 2026 guidance at 5.700-5.800 EPS. As a group, research analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were paid a $0.32 dividend. The ex-dividend date of this dividend was Friday, February 13th. This is an increase from Charles Schwab’s previous quarterly dividend of $0.27. This represents a $1.28 dividend on an annualized basis and a yield of 1.4%. Charles Schwab’s payout ratio is presently 27.47%.

Insider Transactions at Charles Schwab

In related news, General Counsel Peter J. Morgan III sold 7,595 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $104.38, for a total value of $792,766.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Walter W. Bettinger sold 162,462 shares of Charles Schwab stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $103.90, for a total value of $16,879,801.80. Following the sale, the chairman directly owned 529,346 shares in the company, valued at $54,999,049.40. The trade was a 23.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 415,568 shares of company stock valued at $42,639,058. Corporate insiders own 6.30% of the company’s stock.

Charles Schwab Profile

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.