The Charles Schwab Corporation (NYSE:SCHW) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its stake in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 6.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 5,781,015 shares of the financial services provider's stock after acquiring an additional 351,198 shares during the quarter. Envestnet Asset Management Inc. owned 0.32% of Charles Schwab worth $452,538,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SCHW. Brighton Jones LLC raised its holdings in shares of Charles Schwab by 380.5% during the fourth quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider's stock valued at $1,794,000 after acquiring an additional 19,195 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in Charles Schwab in the 4th quarter valued at $441,000. Banco Santander S.A. raised its stake in Charles Schwab by 49.6% in the 4th quarter. Banco Santander S.A. now owns 16,316 shares of the financial services provider's stock valued at $1,208,000 after purchasing an additional 5,413 shares during the last quarter. Personal CFO Solutions LLC lifted its holdings in Charles Schwab by 1.2% in the 4th quarter. Personal CFO Solutions LLC now owns 11,236 shares of the financial services provider's stock valued at $832,000 after purchasing an additional 130 shares in the last quarter. Finally, OFI Invest Asset Management acquired a new stake in Charles Schwab during the 4th quarter worth $1,979,000. Hedge funds and other institutional investors own 84.38% of the company's stock.

Charles Schwab Stock Performance

Shares of Charles Schwab stock traded up $0.36 during trading on Wednesday, reaching $92.31. The company's stock had a trading volume of 6,139,737 shares, compared to its average volume of 9,574,660. The firm has a market cap of $167.72 billion, a PE ratio of 27.97, a P/E/G ratio of 0.98 and a beta of 0.93. The company has a 50-day moving average price of $87.91 and a two-hundred day moving average price of $81.08. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.53. The Charles Schwab Corporation has a fifty-two week low of $61.01 and a fifty-two week high of $92.80.

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

Charles Schwab Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.17%. The ex-dividend date was Friday, May 9th. Charles Schwab's dividend payout ratio (DPR) is 32.73%.

Insiders Place Their Bets

In other news, insider Paul V. Woolway sold 10,129 shares of the firm's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $90.01, for a total transaction of $911,711.29. Following the sale, the insider owned 39,154 shares in the company, valued at $3,524,251.54. This trade represents a 20.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Paula A. Sneed sold 8,647 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $88.06, for a total transaction of $761,454.82. Following the transaction, the director directly owned 105,654 shares of the company's stock, valued at $9,303,891.24. This trade represents a 7.57% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 119,905 shares of company stock valued at $10,530,833. Company insiders own 6.30% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Truist Financial raised their price target on shares of Charles Schwab from $97.00 to $100.00 and gave the stock a "buy" rating in a research note on Monday, June 16th. JPMorgan Chase & Co. boosted their target price on Charles Schwab from $92.00 to $95.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. UBS Group increased their price target on Charles Schwab from $95.00 to $96.00 and gave the company a "buy" rating in a report on Tuesday, April 22nd. Piper Sandler boosted their price objective on Charles Schwab from $74.00 to $80.00 in a research note on Thursday, April 17th. Finally, William Blair downgraded Charles Schwab from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 3rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $90.85.

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.