Envestnet Portfolio Solutions Inc. Raises Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Envestnet Portfolio Solutions Inc. increased its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 40.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 164,133 shares of the financial services provider’s stock after purchasing an additional 47,380 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Charles Schwab were worth $12,148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Prospera Private Wealth LLC purchased a new position in Charles Schwab in the third quarter valued at $31,000. Peterson Financial Group Inc. purchased a new position in Charles Schwab in the third quarter valued at $35,000. Atala Financial Inc purchased a new position in Charles Schwab in the fourth quarter valued at $41,000. Knuff & Co LLC increased its holdings in Charles Schwab by 1,309.3% in the fourth quarter. Knuff & Co LLC now owns 606 shares of the financial services provider’s stock valued at $45,000 after buying an additional 563 shares in the last quarter. Finally, Financial Life Planners purchased a new position in Charles Schwab in the fourth quarter valued at $46,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insider Buying and Selling at Charles Schwab

In other news, Chairman Walter W. Bettinger sold 464,629 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $81.91, for a total value of $38,057,761.39. Following the sale, the chairman now directly owns 827,377 shares of the company’s stock, valued at approximately $67,770,450.07. The trade was a 35.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Arun Sarin sold 8,548 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $81.82, for a total transaction of $699,397.36. Following the completion of the sale, the director now directly owns 18,617 shares in the company, valued at $1,523,242.94. This trade represents a 31.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 501,087 shares of company stock worth $40,952,233 in the last ninety days. 6.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SCHW. Wells Fargo & Company raised shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $89.00 to $93.00 in a report on Wednesday, January 22nd. Truist Financial lifted their price objective on shares of Charles Schwab from $90.00 to $91.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. UBS Group lifted their target price on shares of Charles Schwab from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, January 27th. TD Cowen upgraded shares of Charles Schwab from a “hold” rating to a “buy” rating and lifted their target price for the company from $88.00 to $103.00 in a research report on Tuesday, February 18th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Charles Schwab from $81.00 to $93.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $86.33.

Charles Schwab Stock Performance

NYSE:SCHW opened at $77.28 on Monday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. The firm has a market capitalization of $140.15 billion, a price-to-earnings ratio of 25.85, a PEG ratio of 0.99 and a beta of 0.98. The company’s 50-day moving average is $78.47 and its two-hundred day moving average is $74.39. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $84.50.

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

Charles Schwab Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.40%. This is a positive change from Charles Schwab’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 14th. Charles Schwab’s payout ratio is presently 36.12%.

About Charles Schwab

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.