BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 4.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 631,028 shares of the financial services provider’s stock after selling 26,556 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in The Charles Schwab Corporation were worth $27,109,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in SCHW. First Manhattan Co. increased its stake in The Charles Schwab Corporation by 395.9% in the first quarter. First Manhattan Co. now owns 1,252,265 shares of the financial services provider’s stock valued at $39,534,000 after buying an additional 999,750 shares during the last quarter. 1ST Source Bank increased its stake in The Charles Schwab Corporation by 65.7% in the first quarter. 1ST Source Bank now owns 52,583 shares of the financial services provider’s stock valued at $2,146,000 after buying an additional 20,847 shares during the last quarter. First Mercantile Trust Co. increased its stake in The Charles Schwab Corporation by 10.5% in the first quarter. First Mercantile Trust Co. now owns 78,728 shares of the financial services provider’s stock valued at $3,213,000 after buying an additional 7,496 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in The Charles Schwab Corporation during the first quarter valued at approximately $5,391,000. Finally, Bank of Nova Scotia increased its stake in The Charles Schwab Corporation by 932.5% in the first quarter. Bank of Nova Scotia now owns 278,070 shares of the financial services provider’s stock valued at $11,348,000 after buying an additional 251,139 shares during the last quarter. 79.45% of the stock is owned by institutional investors.

The Charles Schwab Corporation (NYSE SCHW) opened at 39.51 on Monday. The company has a market cap of $52.91 billion, a PE ratio of 26.52 and a beta of 1.63. The firm’s 50-day moving average price is $42.40 and its 200 day moving average price is $40.98. The Charles Schwab Corporation has a 52-week low of $29.86 and a 52-week high of $44.10.

The Charles Schwab Corporation (NYSE:SCHW) last announced its earnings results on Tuesday, July 18th. The financial services provider reported $0.39 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.39. The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. The Charles Schwab Corporation had a return on equity of 15.41% and a net margin of 26.73%. The company’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.30 EPS. On average, equities analysts predict that The Charles Schwab Corporation will post $1.61 EPS for the current fiscal year.

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

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Several equities research analysts have recently commented on SCHW shares. Deutsche Bank AG cut their price objective on The Charles Schwab Corporation from $47.00 to $46.00 and set a “buy” rating for the company in a report on Tuesday, July 4th. Wells Fargo & Company restated a “market perform” rating and issued a $44.00 price target (up previously from $42.00) on shares of The Charles Schwab Corporation in a research note on Monday, June 12th. Morgan Stanley restated an “overweight” rating and issued a $48.00 price target (up previously from $45.00) on shares of The Charles Schwab Corporation in a research note on Monday, July 10th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $46.00 price target on shares of The Charles Schwab Corporation in a research note on Friday, June 16th. Finally, Citigroup Inc. started coverage on The Charles Schwab Corporation in a research note on Thursday, July 13th. They issued a “neutral” rating and a $46.00 price target on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $44.00.

In other The Charles Schwab Corporation news, insider Marie A. Chandoha sold 9,705 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $43.17, for a total value of $418,964.85. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Marie A. Chandoha sold 7,002 shares of the company’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $41.96, for a total value of $293,803.92. The disclosure for this sale can be found here. Insiders sold a total of 924,122 shares of company stock worth $39,694,987 over the last 90 days. Corporate insiders own 12.00% of the company’s stock.

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.

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

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