Fort Pitt Capital Group LLC cut its stake in The Charles Schwab Corporation (NYSE:SCHW) by 0.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 288,063 shares of the financial services provider’s stock after selling 1,883 shares during the quarter. Fort Pitt Capital Group LLC’s holdings in The Charles Schwab Corporation were worth $12,375,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. WealthTrust Arizona LLC raised its stake in shares of The Charles Schwab Corporation by 1.2% during the 2nd quarter. WealthTrust Arizona LLC now owns 2,466 shares of the financial services provider’s stock worth $106,000 after buying an additional 29 shares during the period. Shine Investment Advisory Services Inc. acquired a new position in shares of The Charles Schwab Corporation during the 2nd quarter worth approximately $145,000. Fiduciary Trust Co. acquired a new position in shares of The Charles Schwab Corporation during the 2nd quarter worth approximately $163,000. Quadrant Capital Group LLC raised its stake in shares of The Charles Schwab Corporation by 31.4% during the 2nd quarter. Quadrant Capital Group LLC now owns 4,531 shares of the financial services provider’s stock worth $168,000 after buying an additional 1,082 shares during the period. Finally, Founders Capital Management raised its stake in shares of The Charles Schwab Corporation by 7.7% during the 2nd quarter. Founders Capital Management now owns 4,200 shares of the financial services provider’s stock worth $180,000 after buying an additional 300 shares during the period. 79.53% of the stock is owned by institutional investors.

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In other news, Chairman Charles R. Schwab sold 350,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $43.10, for a total value of $15,085,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Marie A. Chandoha sold 19,074 shares of The Charles Schwab Corporation stock in a transaction on Friday, October 6th. The shares were sold at an average price of $45.94, for a total value of $876,259.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,035,705 shares of company stock valued at $44,665,539. Insiders own 12.00% of the company’s stock.

SCHW has been the subject of several research analyst reports. Morgan Stanley reaffirmed an “overweight” rating and set a $51.00 target price (up from $48.00) on shares of The Charles Schwab Corporation in a research note on Tuesday, July 25th. Nomura downgraded The Charles Schwab Corporation from a “buy” rating to a “neutral” rating in a research note on Monday, July 24th. Barclays PLC initiated coverage on The Charles Schwab Corporation in a research note on Friday, September 8th. They set an “overweight” rating and a $48.00 target price for the company. BidaskClub downgraded The Charles Schwab Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, September 8th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $47.00 target price on shares of The Charles Schwab Corporation in a research note on Friday, September 15th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The Charles Schwab Corporation presently has a consensus rating of “Buy” and an average price target of $46.80.

Shares of The Charles Schwab Corporation (NYSE SCHW) traded down 0.67% during mid-day trading on Friday, reaching $44.73. The company’s stock had a trading volume of 6,821,689 shares. The Charles Schwab Corporation has a 1-year low of $30.66 and a 1-year high of $46.21. The firm has a market capitalization of $59.90 billion, a P/E ratio of 30.02 and a beta of 1.68. The company’s 50-day moving average is $41.87 and its 200 day moving average is $41.07.

The Charles Schwab Corporation (NYSE:SCHW) last released its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.39 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.39. The Charles Schwab Corporation had a return on equity of 15.41% and a net margin of 26.73%. The company had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the previous year, the firm posted $0.30 earnings per share. The business’s revenue for the quarter was up 16.5% compared to the same quarter last year. On average, analysts expect that The Charles Schwab Corporation will post $1.61 earnings per share for the current year.

The Charles Schwab Corporation Company 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 Corporation (NYSE:SCHW)

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