Wealth Enhancement Advisory Services LLC Increases Position in The Charles Schwab Corporation (NYSE:SCHW)

Wealth Enhancement Advisory Services LLC increased its stake in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 9.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,087,355 shares of the financial services provider's stock after acquiring an additional 95,336 shares during the quarter. Wealth Enhancement Advisory Services LLC owned about 0.06% of Charles Schwab worth $85,118,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Charles Schwab during the fourth quarter worth approximately $1,289,544,000. Kovitz Investment Group Partners LLC boosted its stake in Charles Schwab by 354.5% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 11,005,881 shares of the financial services provider's stock worth $814,545,000 after purchasing an additional 8,584,173 shares during the period. FMR LLC boosted its stake in Charles Schwab by 69.4% during the 4th quarter. FMR LLC now owns 9,700,013 shares of the financial services provider's stock worth $717,898,000 after purchasing an additional 3,974,940 shares during the period. Marshall Wace LLP grew its position in Charles Schwab by 742.0% during the 4th quarter. Marshall Wace LLP now owns 4,181,202 shares of the financial services provider's stock worth $309,451,000 after purchasing an additional 3,684,640 shares during the last quarter. Finally, Primecap Management Co. CA increased its stake in Charles Schwab by 310.3% in the fourth quarter. Primecap Management Co. CA now owns 4,252,350 shares of the financial services provider's stock valued at $314,716,000 after purchasing an additional 3,216,000 shares during the period. 84.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Truist Financial raised their price target on Charles Schwab from $97.00 to $100.00 and gave the stock a "buy" rating in a report on Monday. Wells Fargo & Company lowered their target price on Charles Schwab from $93.00 to $87.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. UBS Group boosted their target price on Charles Schwab from $95.00 to $96.00 and gave the company a "buy" rating in a report on Tuesday, April 22nd. Barclays decreased their price target on Charles Schwab from $96.00 to $84.00 and set an "overweight" rating for the company in a report on Monday, April 7th. Finally, Morgan Stanley boosted their price objective on shares of Charles Schwab from $76.00 to $83.00 and gave the company an "overweight" rating in a research note on Tuesday, May 13th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $89.40.

Charles Schwab Price Performance

Shares of NYSE:SCHW traded down $0.66 during trading on Friday, hitting $89.25. 12,979,320 shares of the stock were exchanged, compared to its average volume of 9,451,289. The company has a market cap of $162.16 billion, a PE ratio of 27.04, a P/E/G ratio of 0.96 and a beta of 0.94. 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 company has a fifty day moving average price of $84.57 and a two-hundred day moving average price of $80.07. The Charles Schwab Corporation has a 12-month low of $61.01 and a 12-month high of $90.59.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.03. The firm had revenue of $5.60 billion during the quarter, compared to analysts' expectations of $5.46 billion. Charles Schwab had a return on equity of 18.31% and a net margin of 31.71%. During the same period in the previous year, the firm posted $0.74 earnings per share. On average, analysts forecast 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. Investors of record on Friday, May 9th were paid a $0.27 dividend. The ex-dividend date was Friday, May 9th. This represents a $1.08 dividend on an annualized basis and a yield of 1.21%. Charles Schwab's payout ratio is 32.73%.

Insider Activity at Charles Schwab

In other news, insider Jonathan M. Craig sold 47,500 shares of the company's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $88.46, for a total value of $4,201,850.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jonathan S. Beatty sold 2,850 shares of the stock in a transaction on Friday, May 30th. The shares were sold at an average price of $87.57, for a total value of $249,574.50. Following the sale, the insider now directly owns 15,219 shares in the company, valued at approximately $1,332,727.83. The trade was a 15.77% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 97,608 shares of company stock valued at $8,392,040. Insiders own 6.30% 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.