Provident Investment Management Inc. Sells 91,057 Shares of The Charles Schwab Corporation $SCHW

Provident Investment Management Inc. decreased its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 14.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 529,796 shares of the financial services provider’s stock after selling 91,057 shares during the period. Charles Schwab comprises about 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.

A number of other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in Charles Schwab during the 2nd quarter valued at $1,889,858,000. Brown Advisory Inc. lifted its position in Charles Schwab by 88.4% during the 2nd quarter. Brown Advisory Inc. now owns 12,162,260 shares of the financial services provider’s stock worth $1,109,687,000 after buying an additional 5,708,208 shares in the last quarter. Primecap Management Co. CA lifted its position in Charles Schwab by 35.9% during the 2nd quarter. Primecap Management Co. CA now owns 19,034,806 shares of the financial services provider’s stock worth $1,736,736,000 after buying an additional 5,032,728 shares in the last quarter. Vanguard Group Inc. grew its holdings in Charles Schwab by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 151,182,081 shares of the financial services provider’s stock worth $13,793,853,000 after acquiring an additional 2,786,829 shares during the last quarter. Finally, Mondrian Investment Partners LTD bought a new position in shares of Charles Schwab in the third quarter worth about $169,104,000. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Performance

Shares of NYSE:SCHW opened at $93.95 on Wednesday. The firm’s 50 day simple moving average is $98.58 and its 200 day simple moving average is $96.29. The Charles Schwab Corporation has a fifty-two week low of $65.88 and a fifty-two week high of $107.50. The company 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 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) last issued its earnings results on Wednesday, January 21st. The financial services provider reported $1.39 EPS for the quarter, beating the consensus estimate of $1.32 by $0.07. The firm had revenue of $6.34 billion during 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 quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.01 earnings per share. Charles Schwab has set its FY 2026 guidance at 5.700-5.800 EPS. As a group, sell-side analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Increases Dividend

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

Insider Activity

In other news, Director Christopher V. Dodds sold 11,825 shares of the firm’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $104.55, for a total transaction of $1,236,303.75. Following the sale, the director owned 449,406 shares of the company’s stock, valued at $46,985,397.30. This trade represents a 2.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul V. Woolway sold 15,884 shares of Charles Schwab stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $95.12, for a total value of $1,510,886.08. Following the transaction, the insider owned 35,992 shares in the company, valued at $3,423,559.04. This trade represents a 30.62% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 415,568 shares of company stock valued at $42,639,058. Company insiders own 6.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on SCHW shares. Barclays upped their price objective on Charles Schwab from $125.00 to $126.00 and gave the stock an “overweight” rating in a report on Monday, January 26th. TD Cowen raised their price target on Charles Schwab from $135.00 to $138.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Wolfe Research set a $120.00 price objective on Charles Schwab in a research report on Monday, January 12th. Truist Financial raised their target price on shares of Charles Schwab from $120.00 to $122.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Finally, Morgan Stanley boosted their price target on shares of Charles Schwab from $139.00 to $148.00 and gave the stock an “overweight” rating in a research note on Monday, December 22nd. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.95.

Charles Schwab Company 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.