Private Ocean LLC cut its stake in The Charles Schwab Corporation (NYSE:SCHW) by 3.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,930 shares of the financial services provider’s stock after selling 965 shares during the period. The Charles Schwab Corporation accounts for approximately 0.7% of Private Ocean LLC’s holdings, making the stock its 15th largest position. Private Ocean LLC’s holdings in The Charles Schwab Corporation were worth $1,157,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of The Charles Schwab Corporation by 4.0% in the first quarter. Vanguard Group Inc. now owns 79,388,639 shares of the financial services provider’s stock worth $3,239,850,000 after buying an additional 3,063,203 shares during the period. BlackRock Inc. increased its stake in shares of The Charles Schwab Corporation by 1,921.5% in the first quarter. BlackRock Inc. now owns 71,876,119 shares of the financial services provider’s stock worth $2,933,263,000 after buying an additional 68,320,480 shares during the period. FMR LLC increased its stake in shares of The Charles Schwab Corporation by 18.2% in the first quarter. FMR LLC now owns 27,637,472 shares of the financial services provider’s stock worth $1,127,886,000 after buying an additional 4,259,181 shares during the period. Theleme Partners LLP increased its stake in shares of The Charles Schwab Corporation by 5.6% in the first quarter. Theleme Partners LLP now owns 13,646,900 shares of the financial services provider’s stock worth $556,930,000 after buying an additional 720,000 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in shares of The Charles Schwab Corporation by 15.9% in the first quarter. Ameriprise Financial Inc. now owns 13,120,429 shares of the financial services provider’s stock worth $535,281,000 after buying an additional 1,802,922 shares during the period. Institutional investors and hedge funds own 79.60% of the company’s stock.

The Charles Schwab Corporation (SCHW) opened at 39.57 on Thursday. The Charles Schwab Corporation has a 52 week low of $29.86 and a 52 week high of $44.10. The stock has a market capitalization of $52.99 billion, a PE ratio of 26.56 and a beta of 1.63. The firm has a 50-day moving average price of $41.90 and a 200-day moving average price of $40.95.

The Charles Schwab Corporation (NYSE:SCHW) last released its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.39 EPS for the quarter, meeting analysts’ consensus estimates of $0.39. The Charles Schwab Corporation had a return on equity of 15.41% and a net margin of 26.73%. The firm had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the prior year, the firm posted $0.30 earnings per share. The firm’s quarterly revenue was up 16.5% on a year-over-year basis. Equities research analysts predict that The Charles Schwab Corporation will post $1.61 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Friday, August 11th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend was Wednesday, August 9th. The Charles Schwab Corporation’s dividend payout ratio is presently 21.48%.

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A number of analysts have recently issued reports on SCHW shares. Jefferies Group LLC reiterated a “buy” rating and set a $48.00 price target on shares of The Charles Schwab Corporation in a research report on Wednesday, May 31st. Deutsche Bank AG reiterated a “buy” rating and set a $45.00 price target (up previously from $44.00) on shares of The Charles Schwab Corporation in a research report on Monday, May 15th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $46.00 price target on shares of The Charles Schwab Corporation in a research report on Friday, June 16th. BidaskClub upgraded The Charles Schwab Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Finally, Argus reiterated a “buy” rating and set a $48.00 price target (up previously from $46.00) on shares of The Charles Schwab Corporation in a research report on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $44.00.

In other The Charles Schwab Corporation news, Chairman Charles R. Schwab sold 290,000 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $43.27, for a total value of $12,548,300.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Marie A. Chandoha sold 9,705 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $43.17, for a total value of $418,964.85. The disclosure for this sale can be found here. Insiders sold 924,122 shares of company stock worth $39,694,987 over the last quarter. 12.00% of the stock is currently owned by insiders.

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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