Envestnet Asset Management Inc. Trims Holdings in The Charles Schwab Corporation (SCHW)

Envestnet Asset Management Inc. lowered its position in The Charles Schwab Corporation (NYSE:SCHW) by 13.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 312,688 shares of the financial services provider’s stock after selling 48,526 shares during the quarter. Envestnet Asset Management Inc.’s holdings in The Charles Schwab were worth $13,672,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in SCHW. Capital Research Global Investors lifted its position in shares of The Charles Schwab by 86.3% during the 2nd quarter. Capital Research Global Investors now owns 24,237,199 shares of the financial services provider’s stock worth $1,041,230,000 after buying an additional 11,224,199 shares during the period. Janus Henderson Group PLC lifted its position in shares of The Charles Schwab by 1,766.9% during the 2nd quarter. Janus Henderson Group PLC now owns 9,357,736 shares of the financial services provider’s stock worth $402,011,000 after buying an additional 8,856,483 shares during the period. FMR LLC lifted its position in shares of The Charles Schwab by 11.3% during the 2nd quarter. FMR LLC now owns 30,766,004 shares of the financial services provider’s stock worth $1,321,708,000 after buying an additional 3,128,532 shares during the period. Vanguard Group Inc. lifted its position in shares of The Charles Schwab by 3.2% during the 2nd quarter. Vanguard Group Inc. now owns 81,925,586 shares of the financial services provider’s stock worth $3,519,523,000 after buying an additional 2,536,947 shares during the period. Finally, Amundi Pioneer Asset Management Inc. lifted its position in shares of The Charles Schwab by 90.2% during the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 4,887,840 shares of the financial services provider’s stock worth $213,794,000 after buying an additional 2,318,498 shares during the period. Institutional investors own 79.84% of the company’s stock.

SCHW has been the subject of several analyst reports. BidaskClub downgraded The Charles Schwab from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 17th. Jefferies Group reiterated a “buy” rating and issued a $49.00 price objective on shares of The Charles Schwab in a research report on Friday, September 15th. Morgan Stanley lifted their price objective on The Charles Schwab from $51.00 to $53.00 and gave the company an “overweight” rating in a research report on Thursday, October 5th. Deutsche Bank lifted their price objective on The Charles Schwab from $46.00 to $47.00 and gave the company a “hold” rating in a research report on Wednesday, October 25th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $47.00 price objective on shares of The Charles Schwab in a research report on Friday, September 15th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $47.56.

In other news, EVP Bernard J. Clark sold 50,444 shares of The Charles Schwab stock in a transaction on Monday, December 4th. The stock was sold at an average price of $50.52, for a total value of $2,548,430.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Bernard J. Clark sold 75,244 shares of The Charles Schwab stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $43.98, for a total value of $3,309,231.12. The disclosure for this sale can be found here. Insiders sold a total of 1,763,883 shares of company stock valued at $81,968,138 over the last three months. Insiders own 12.00% of the company’s stock.

Shares of The Charles Schwab Corporation (NYSE:SCHW) traded down $0.77 on Wednesday, reaching $50.78. The company’s stock had a trading volume of 7,799,100 shares, compared to its average volume of 7,083,372. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.21. The Charles Schwab Corporation has a 52-week low of $37.16 and a 52-week high of $51.89. The company has a market cap of $69,106.70, a P/E ratio of 33.04, a price-to-earnings-growth ratio of 2.19 and a beta of 1.74.

The Charles Schwab (NYSE:SCHW) last released its earnings results on Wednesday, October 18th. The financial services provider reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.01. The company had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.18 billion. The Charles Schwab had a return on equity of 15.77% and a net margin of 27.30%. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period last year, the firm earned $0.35 EPS. sell-side analysts forecast that The Charles Schwab Corporation will post 1.62 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, November 24th. Stockholders of record on Friday, November 10th were paid a $0.08 dividend. The ex-dividend date was Thursday, November 9th. This represents a $0.32 annualized dividend and a dividend yield of 0.63%. The Charles Schwab’s dividend payout ratio (DPR) is currently 20.51%.

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The Charles Schwab Profile

The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.

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Institutional Ownership by Quarter for The Charles Schwab (NYSE:SCHW)

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