Wealth Enhancement Advisory Services LLC Acquires 35,164 Shares of The Charles Schwab Co. (NYSE:SCHW)

Wealth Enhancement Advisory Services LLC raised its holdings in The Charles Schwab Co. (NYSE:SCHW) by 3.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 976,477 shares of the financial services provider’s stock after buying an additional 35,164 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Charles Schwab were worth $70,638,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Sugarloaf Wealth Management LLC grew its position in shares of Charles Schwab by 60.0% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 165 shares during the last quarter. Frazier Financial Advisors LLC acquired a new position in shares of Charles Schwab in the fourth quarter valued at approximately $30,000. Wetzel Investment Advisors Inc. acquired a new position in shares of Charles Schwab in the fourth quarter valued at approximately $31,000. Hall Laurie J Trustee acquired a new position in shares of Charles Schwab in the fourth quarter valued at approximately $34,000. Finally, Glass Jacobson Investment Advisors llc grew its position in shares of Charles Schwab by 81.0% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 599 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 268 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Trading Up 0.4 %

Shares of SCHW stock opened at $73.56 on Friday. The stock’s fifty day moving average price is $74.40 and its two-hundred day moving average price is $69.68. The company has a market cap of $130.74 billion, a PE ratio of 30.78, a P/E/G ratio of 1.13 and a beta of 0.96. The Charles Schwab Co. has a fifty-two week low of $48.66 and a fifty-two week high of $79.49. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.42 and a current ratio of 0.42.

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, beating analysts’ consensus estimates of $0.73 by $0.01. Charles Schwab had a return on equity of 19.25% and a net margin of 26.14%. The company had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.71 billion. Equities analysts predict that The Charles Schwab Co. will post 3.25 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Thursday, May 9th. Charles Schwab’s payout ratio is 41.84%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. StockNews.com downgraded Charles Schwab from a “hold” rating to a “sell” rating in a research report on Friday, May 24th. TD Cowen reduced their price target on Charles Schwab from $92.00 to $88.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $76.00 price target on shares of Charles Schwab in a research report on Monday, June 17th. Piper Sandler increased their price target on Charles Schwab from $75.00 to $78.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. Finally, Morgan Stanley increased their price target on Charles Schwab from $65.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $75.56.

Insider Activity

In related news, insider Nigel J. Murtagh sold 10,000 shares of the firm’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $72.40, for a total transaction of $724,000.00. Following the completion of the transaction, the insider now directly owns 71,446 shares of the company’s stock, valued at approximately $5,172,690.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $72.49, for a total value of $652,410.00. Following the completion of the sale, the director now directly owns 570,657 shares in the company, valued at approximately $41,366,925.93. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Nigel J. Murtagh sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $72.40, for a total value of $724,000.00. Following the completion of the sale, the insider now owns 71,446 shares of the company’s stock, valued at $5,172,690.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 658,663 shares of company stock worth $48,997,146. Insiders own 6.60% of the company’s stock.

Charles Schwab Company 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.