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

Wealth Enhancement Advisory Services LLC boosted its stake in The Charles Schwab Corporation (NYSE:SCHW) by 9.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,087,355 shares of the financial services provider’s stock after buying an additional 95,336 shares during the period. Wealth Enhancement Advisory Services LLC owned 0.06% of Charles Schwab worth $85,118,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bernard Wealth Management Corp. lifted its holdings in shares of Charles Schwab by 22.2% during the first quarter. Bernard Wealth Management Corp. now owns 4,544 shares of the financial services provider’s stock valued at $356,000 after purchasing an additional 825 shares during the last quarter. CVA Family Office LLC lifted its holdings in shares of Charles Schwab by 3.0% during the first quarter. CVA Family Office LLC now owns 7,558 shares of the financial services provider’s stock valued at $592,000 after purchasing an additional 223 shares during the last quarter. Elevation Point Wealth Partners LLC lifted its holdings in shares of Charles Schwab by 22.4% during the first quarter. Elevation Point Wealth Partners LLC now owns 35,243 shares of the financial services provider’s stock valued at $2,759,000 after purchasing an additional 6,446 shares during the last quarter. Krilogy Financial LLC lifted its holdings in shares of Charles Schwab by 8.1% during the first quarter. Krilogy Financial LLC now owns 20,839 shares of the financial services provider’s stock valued at $1,631,000 after purchasing an additional 1,558 shares during the last quarter. Finally, Everhart Financial Group Inc. lifted its holdings in shares of Charles Schwab by 23.0% during the first quarter. Everhart Financial Group Inc. now owns 8,041 shares of the financial services provider’s stock valued at $629,000 after purchasing an additional 1,502 shares during the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Charles Schwab Trading Up 1.1%

NYSE:SCHW opened at $89.90 on Friday. 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 market cap of $163.35 billion, a PE ratio of 27.24, a price-to-earnings-growth ratio of 0.96 and a beta of 0.94. The Charles Schwab Corporation has a 12 month low of $61.01 and a 12 month high of $90.19. The company has a 50 day simple moving average of $84.57 and a two-hundred day simple moving average of $80.07.

Charles Schwab (NYSE:SCHW) last released its earnings results on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.03. The company had revenue of $5.60 billion for the quarter, compared to the consensus estimate 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 business earned $0.74 earnings per share. Research analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend was Friday, May 9th. Charles Schwab’s payout ratio is 32.73%.

Insiders Place Their Bets

In related news, insider Jonathan M. Craig sold 47,500 shares of the company’s stock in a transaction on Wednesday, May 21st. The shares were 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 Securities & Exchange Commission, which is available at this link. Also, Director Frank C. Herringer sold 3,592 shares of the stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $74.26, for a total value of $266,741.92. Following the sale, the director now owns 172,162 shares of the company’s stock, valued at $12,784,750.12. This represents a 2.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 97,608 shares of company stock worth $8,392,040 over the last quarter. 6.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SCHW shares. Cowen reiterated a “buy” rating on shares of Charles Schwab in a report on Tuesday, May 20th. Wells Fargo & Company decreased their price objective on shares of Charles Schwab from $93.00 to $87.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Redburn Atlantic upgraded shares of Charles Schwab from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $65.00 to $82.00 in a report on Monday, June 9th. JPMorgan Chase & Co. boosted their price objective on shares of Charles Schwab from $92.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, April 21st. Finally, JMP Securities restated a “market outperform” rating and issued a $94.00 price objective on shares of Charles Schwab in a report on Monday, April 21st. Two investment 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.40.

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.