Provident Trust Co. Has $359.91 Million Holdings in The Charles Schwab Corporation (NYSE:SCHW)

Provident Trust Co. trimmed its position in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 1.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,597,735 shares of the financial services provider's stock after selling 48,343 shares during the quarter. Charles Schwab accounts for approximately 6.7% of Provident Trust Co.'s holdings, making the stock its 7th biggest holding. Provident Trust Co. owned about 0.25% of Charles Schwab worth $359,911,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in SCHW. Atwood & Palmer Inc. purchased a new position in Charles Schwab during the 1st quarter valued at $25,000. Westside Investment Management Inc. increased its position in Charles Schwab by 75.0% during the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 150 shares during the period. WFA Asset Management Corp purchased a new position in Charles Schwab during the 1st quarter valued at $33,000. Cornerstone Planning Group LLC increased its position in Charles Schwab by 90.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 463 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 220 shares during the period. Finally, Murphy & Mullick Capital Management Corp purchased a new position in Charles Schwab during the 4th quarter valued at $38,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Stock Performance

SCHW traded down $0.35 during midday trading on Wednesday, hitting $91.26. 10,824,598 shares of the company traded hands, compared to its average volume of 9,480,766. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $165.82 billion, a PE ratio of 27.65, a price-to-earnings-growth ratio of 0.97 and a beta of 0.93. The company's 50-day moving average is $89.04 and its 200 day moving average is $81.76. The Charles Schwab Corporation has a 52 week low of $61.01 and a 52 week high of $93.35.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.03. Charles Schwab had a net margin of 31.71% and a return on equity of 18.31%. The business had revenue of $5.60 billion for the quarter, compared to analysts' expectations of $5.46 billion. During the same quarter in the prior year, the business earned $0.74 EPS. On average, research analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Friday, May 9th. Charles Schwab's dividend payout ratio (DPR) is presently 32.73%.

Insider Buying and Selling

In related news, Director Paula A. Sneed sold 8,647 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $88.06, for a total value of $761,454.82. Following the completion of the sale, the director directly owned 105,654 shares of the company's stock, valued at approximately $9,303,891.24. This represents a 7.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jonathan S. Beatty sold 2,850 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $87.57, for a total transaction of $249,574.50. Following the sale, the insider directly owned 15,219 shares of the company's stock, valued at approximately $1,332,727.83. This trade represents a 15.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 119,905 shares of company stock worth $10,530,833 in the last ninety days. Corporate insiders own 6.30% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Redburn Atlantic raised shares of Charles Schwab from a "sell" rating to a "neutral" rating and upped their target price for the stock from $65.00 to $82.00 in a research report on Monday, June 9th. JMP Securities upped their target price on shares of Charles Schwab from $94.00 to $106.00 and gave the stock a "market outperform" rating in a research report on Monday. Wells Fargo & Company upped their target price on shares of Charles Schwab from $87.00 to $102.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Raymond James Financial upped their target price on shares of Charles Schwab from $91.00 to $99.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Finally, Citigroup reaffirmed an "outperform" rating on shares of Charles Schwab in a research report on Monday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $95.60.

Charles Schwab 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.