Envestnet Portfolio Solutions Inc. Increases Stake 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% during the 4th quarter, Holdings Channel.com reports. The institutional investor 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 SEC filing.

Several other large investors have also recently added to or reduced their stakes in SCHW. Principal Financial Group Inc. increased its position in shares of Charles Schwab by 0.6% in the 3rd quarter. Principal Financial Group Inc. now owns 6,673,901 shares of the financial services provider’s stock valued at $432,536,000 after purchasing an additional 38,201 shares during the last quarter. United Bank increased its position in shares of Charles Schwab by 13.0% in the 3rd quarter. United Bank now owns 11,352 shares of the financial services provider’s stock valued at $736,000 after purchasing an additional 1,309 shares during the last quarter. Harbour Investments Inc. increased its position in shares of Charles Schwab by 6.9% in the 3rd quarter. Harbour Investments Inc. now owns 7,612 shares of the financial services provider’s stock valued at $493,000 after purchasing an additional 493 shares during the last quarter. OneDigital Investment Advisors LLC increased its position in shares of Charles Schwab by 1.0% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 40,955 shares of the financial services provider’s stock valued at $2,654,000 after purchasing an additional 408 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC increased its position in shares of Charles Schwab by 5.5% in the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 6,596 shares of the financial services provider’s stock valued at $427,000 after purchasing an additional 345 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Stock Up 5.1 %

Shares of Charles Schwab stock opened at $77.28 on Monday. The company has a market cap of $140.15 billion, a P/E ratio of 25.85, a PEG ratio of 0.99 and a beta of 0.98. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. The Charles Schwab Co. has a one year low of $61.01 and a one year high of $84.50. The firm has a fifty day moving average of $78.47 and a two-hundred day moving average of $74.39.

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

Charles Schwab Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.40%. This is an increase from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s dividend payout ratio is presently 36.12%.

Insider Activity

In other news, Chairman Walter W. Bettinger sold 464,629 shares of the stock in a transaction dated 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 completion of the transaction, the chairman now owns 827,377 shares in the company, valued at $67,770,450.07. This trade represents a 35.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Peter J. Morgan III sold 14,643 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $80.70, for a total transaction of $1,181,690.10. The disclosure for this sale can be found here. Insiders sold 501,087 shares of company stock worth $40,952,233 in the last 90 days. 6.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SCHW shares. Truist Financial increased their price objective on shares of Charles Schwab from $90.00 to $91.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. JPMorgan Chase & Co. upped their target price on shares of Charles Schwab from $87.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. JMP Securities restated a “market outperform” rating and issued a $94.00 target price (up previously from $84.00) on shares of Charles Schwab in a report on Monday, December 9th. Jefferies Financial Group upped their target price on shares of Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Redburn Partners lowered their target price on shares of Charles Schwab from $70.00 to $68.00 and set a “sell” rating for the company in a report on Friday, January 17th. Two analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $86.33.

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.