Legal & General Group Plc raised its stake in The Charles Schwab Corporation (NYSE:SCHW) by 7.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,557,728 shares of the financial services provider’s stock after buying an additional 398,831 shares during the period. Legal & General Group Plc owned about 0.42% of The Charles Schwab Corporation worth $238,769,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of SCHW. Vanguard Group Inc. boosted its position in 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 last quarter. BlackRock Inc. boosted its position in 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 last quarter. FMR LLC boosted its position in 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 last quarter. Theleme Partners LLP boosted its position in 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 last quarter. Finally, Ameriprise Financial Inc. boosted its position in 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 last quarter. 79.45% of the stock is owned by institutional investors and hedge funds.

Shares of The Charles Schwab Corporation (NYSE:SCHW) opened at 39.77 on Wednesday. The stock has a market cap of $53.26 billion, a PE ratio of 26.69 and a beta of 1.63. The firm has a 50-day moving average of $42.29 and a 200-day moving average of $40.97. The Charles Schwab Corporation has a one year low of $29.86 and a one year high of $44.10.

The Charles Schwab Corporation (NYSE:SCHW) last issued its earnings results on Tuesday, July 18th. The financial services provider reported $0.39 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.39. The firm had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.13 billion. The Charles Schwab Corporation had a net margin of 26.73% and a return on equity of 15.41%. The firm’s revenue was up 16.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.30 earnings per share. On average, equities research analysts expect that The Charles Schwab Corporation will post $1.61 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Friday, August 11th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $0.32 annualized dividend and a yield of 0.80%. The Charles Schwab Corporation’s dividend payout ratio (DPR) is 21.48%.

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SCHW has been the topic of a number of analyst reports. Wells Fargo & Company restated a “market perform” rating and issued a $44.00 price objective (up previously from $42.00) on shares of The Charles Schwab Corporation in a research report on Monday, June 12th. Deutsche Bank AG decreased their price objective on shares of The Charles Schwab Corporation from $47.00 to $46.00 and set a “buy” rating on the stock in a research report on Tuesday, July 4th. Morgan Stanley restated an “overweight” rating and issued a $48.00 price objective (up previously from $45.00) on shares of The Charles Schwab Corporation in a research report on Monday, July 10th. Citigroup Inc. initiated coverage on shares of The Charles Schwab Corporation in a research report on Thursday, July 13th. They issued a “neutral” rating and a $46.00 price objective on the stock. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $46.00 price objective on shares of The Charles Schwab Corporation in a research report on Friday, June 16th. One investment 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. The company presently has an average rating of “Buy” and an average price target of $44.00.

In related news, Chairman Charles R. Schwab sold 26,000 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $42.80, for a total value of $1,112,800.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Terri R. Kallsen sold 10,536 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $43.15, for a total transaction of $454,628.40. Following the completion of the sale, the executive vice president now directly owns 5,212 shares in the company, valued at approximately $224,897.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 924,122 shares of company stock worth $39,694,987. 12.00% of the stock is owned by corporate 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.

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

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