The Charles Schwab Co. (NYSE:SCHW) Shares Bought by ProVise Management Group LLC

ProVise Management Group LLC increased its stake in The Charles Schwab Co. (NYSE:SCHW) by 1.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 166,640 shares of the financial services provider’s stock after purchasing an additional 1,811 shares during the period. ProVise Management Group LLC’s holdings in Charles Schwab were worth $12,333,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Xponance Inc. lifted its stake in Charles Schwab by 17.0% during the 4th quarter. Xponance Inc. now owns 260,195 shares of the financial services provider’s stock valued at $19,257,000 after acquiring an additional 37,881 shares during the period. Generali Asset Management SPA SGR acquired a new stake in Charles Schwab during the 4th quarter valued at approximately $5,350,000. Evoke Wealth LLC lifted its stake in Charles Schwab by 5.0% during the 4th quarter. Evoke Wealth LLC now owns 6,251 shares of the financial services provider’s stock valued at $463,000 after acquiring an additional 299 shares during the period. Horizon Investments LLC lifted its stake in Charles Schwab by 1.7% during the 4th quarter. Horizon Investments LLC now owns 25,624 shares of the financial services provider’s stock valued at $1,896,000 after acquiring an additional 418 shares during the period. Finally, PDS Planning Inc lifted its stake in Charles Schwab by 6.5% during the 4th quarter. PDS Planning Inc now owns 8,212 shares of the financial services provider’s stock valued at $608,000 after acquiring an additional 503 shares during the period. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Charles Schwab Price Performance

Charles Schwab stock opened at $77.52 on Wednesday. The Charles Schwab Co. has a 52-week low of $61.01 and a 52-week high of $84.50. The firm has a market capitalization of $140.58 billion, a price-to-earnings ratio of 25.93, a PEG ratio of 0.99 and a beta of 0.98. The company has a fifty day simple moving average of $78.65 and a 200-day simple moving average of $74.57. 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The business had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the prior year, the firm earned $0.68 earnings per share. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. On average, equities analysts anticipate that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a dividend of $0.27 per share. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.39%. Charles Schwab’s dividend payout ratio is presently 36.12%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SCHW. Redburn Partners cut their target price on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating for the company in a report on Friday, January 17th. Barclays lifted their target price on shares of Charles Schwab from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. JMP Securities reaffirmed a “market outperform” rating and set a $94.00 target price (up from $84.00) on shares of Charles Schwab in a report on Monday, December 9th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Charles Schwab from $98.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Finally, UBS Group lifted their target price on shares of Charles Schwab from $90.00 to $95.00 and gave the company a “buy” rating in a report on Monday, January 27th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $86.33.

Insider Transactions at Charles Schwab

In other news, Chairman Walter W. Bettinger sold 464,629 shares of the business’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total transaction of $38,057,761.39. Following the transaction, the chairman now owns 827,377 shares of the company’s stock, valued at approximately $67,770,450.07. The trade was a 35.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul V. Woolway sold 9,887 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $75.38, for a total transaction of $745,282.06. Following the transaction, the insider now directly owns 47,931 shares in the company, valued at approximately $3,613,038.78. The trade was a 17.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 501,087 shares of company stock valued at $40,952,233 over the last 90 days. 6.60% of the stock is currently owned by corporate 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.