Envestnet Asset Management Inc. Acquires 422,408 Shares of The Charles Schwab Co. (NYSE:SCHW)

Envestnet Asset Management Inc. increased its stake in The Charles Schwab Co. (NYSE:SCHW) by 9.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,798,925 shares of the financial services provider’s stock after purchasing an additional 422,408 shares during the period. Envestnet Asset Management Inc. owned approximately 0.27% of Charles Schwab worth $330,166,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Charles Schwab during the 4th quarter valued at $950,192,000. Ameriprise Financial Inc. raised its position in Charles Schwab by 186.2% during the third quarter. Ameriprise Financial Inc. now owns 7,107,176 shares of the financial services provider’s stock valued at $390,234,000 after purchasing an additional 4,624,302 shares in the last quarter. Boston Partners raised its position in Charles Schwab by 424.7% during the fourth quarter. Boston Partners now owns 4,451,090 shares of the financial services provider’s stock valued at $305,400,000 after purchasing an additional 3,602,830 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Charles Schwab by 31.1% in the 3rd quarter. Lazard Asset Management LLC now owns 7,247,335 shares of the financial services provider’s stock worth $397,877,000 after purchasing an additional 1,717,137 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Charles Schwab by 19.7% during the 4th quarter. Franklin Resources Inc. now owns 9,472,698 shares of the financial services provider’s stock valued at $651,722,000 after purchasing an additional 1,558,975 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Bernard J. Clark sold 77,431 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $70.94, for a total value of $5,492,955.14. Following the completion of the transaction, the insider now owns 121,666 shares in the company, valued at approximately $8,630,986.04. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Bernard J. Clark sold 77,431 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $70.94, for a total value of $5,492,955.14. Following the sale, the insider now directly owns 121,666 shares of the company’s stock, valued at approximately $8,630,986.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $78.41, for a total transaction of $705,690.00. Following the transaction, the director now directly owns 574,257 shares of the company’s stock, valued at $45,027,491.37. The disclosure for this sale can be found here. Insiders sold a total of 655,476 shares of company stock valued at $48,718,705 over the last three months. Corporate insiders own 6.60% of the company’s stock.

Charles Schwab Price Performance

Shares of SCHW stock opened at $73.93 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.42 and a current ratio of 0.42. The Charles Schwab Co. has a fifty-two week low of $48.66 and a fifty-two week high of $79.49. The firm has a market cap of $131.39 billion, a P/E ratio of 30.93, a P/E/G ratio of 1.14 and a beta of 0.96. The business’s 50 day moving average price is $73.96 and its 200-day moving average price is $68.37.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Monday, April 15th. The financial services provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. The company had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.71 billion. Charles Schwab had a return on equity of 19.25% and a net margin of 26.14%. On average, equities research analysts anticipate that The Charles Schwab Co. will post 3.26 earnings per share for the current year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.35%. The ex-dividend date was Thursday, May 9th. Charles Schwab’s dividend payout ratio is currently 41.84%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SCHW. UBS Group boosted their target price on Charles Schwab from $87.00 to $91.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Charles Schwab from $86.00 to $83.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. Keefe, Bruyette & Woods increased their target price on shares of Charles Schwab from $75.00 to $76.00 and gave the company a “market perform” rating in a report on Tuesday, April 16th. Piper Sandler boosted their price target on shares of Charles Schwab from $75.00 to $78.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $80.00 price objective on shares of Charles Schwab in a research note on Tuesday, May 28th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $74.65.

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.