Envestnet Asset Management Inc. Grows Position in The Charles Schwab Co. (NYSE:SCHW)

Envestnet Asset Management Inc. grew its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 1.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 5,429,817 shares of the financial services provider’s stock after acquiring an additional 72,095 shares during the period. Envestnet Asset Management Inc.’s holdings in Charles Schwab were worth $401,861,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Merit Financial Group LLC raised its holdings in Charles Schwab by 230.1% during the fourth quarter. Merit Financial Group LLC now owns 33,546 shares of the financial services provider’s stock worth $2,483,000 after purchasing an additional 23,383 shares during the last quarter. Benjamin Edwards Inc. boosted its position in shares of Charles Schwab by 2,840.7% in the 3rd quarter. Benjamin Edwards Inc. now owns 6,146 shares of the financial services provider’s stock worth $398,000 after buying an additional 5,937 shares in the last quarter. Synovus Financial Corp grew its stake in Charles Schwab by 46.0% in the 3rd quarter. Synovus Financial Corp now owns 67,889 shares of the financial services provider’s stock valued at $4,400,000 after acquiring an additional 21,377 shares during the last quarter. Oregon Pacific Wealth Management LLC purchased a new position in Charles Schwab during the 4th quarter valued at about $688,000. Finally, Golden State Equity Partners raised its position in Charles Schwab by 293.9% during the fourth quarter. Golden State Equity Partners now owns 12,207 shares of the financial services provider’s stock worth $903,000 after acquiring an additional 9,108 shares during the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Charles Schwab

In other Charles Schwab news, Director Arun Sarin sold 8,548 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $81.82, for a total value of $699,397.36. Following the completion of the transaction, the director now owns 18,617 shares in the company, valued at $1,523,242.94. This represents a 31.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Walter W. Bettinger sold 464,629 shares of Charles Schwab stock in a transaction that occurred on 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 sale, the chairman now owns 827,377 shares in the company, valued at $67,770,450.07. This represents a 35.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 513,081 shares of company stock valued at $41,903,066 over the last 90 days. Corporate insiders own 6.60% of the company’s stock.

Wall Street Analyst Weigh In

SCHW has been the topic of several research reports. Wells Fargo & Company upgraded shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $89.00 to $93.00 in a research report on Wednesday, January 22nd. Barclays raised their price target on Charles Schwab from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Jefferies Financial Group increased their price objective on Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, December 9th. 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 research note on Friday, January 17th. Finally, Citigroup raised shares of Charles Schwab from a “neutral” rating to a “buy” rating and raised their price target for the stock from $85.00 to $102.00 in a research note on Wednesday. Two analysts have rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $86.94.

Charles Schwab Stock Down 7.7 %

Shares of NYSE SCHW opened at $69.07 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $125.26 billion, a PE ratio of 23.10, a P/E/G ratio of 0.99 and a beta of 0.91. The firm has a fifty day moving average of $79.09 and a 200-day moving average of $75.81. The Charles Schwab Co. has a 52-week low of $61.01 and a 52-week high of $84.50.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.90 by $0.11. The company had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5.19 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. The firm’s revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.68 earnings per share. On average, analysts anticipate that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a dividend of $0.27 per share. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Friday, February 14th. Charles Schwab’s payout ratio is currently 36.12%.

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.