American Century Companies Inc. increased its position in The Charles Schwab Corporation (NYSE:SCHW) by 19.4% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 4,139,650 shares of the financial services provider’s stock after buying an additional 673,011 shares during the period. American Century Companies Inc. owned approximately 0.31% of The Charles Schwab Corporation worth $177,839,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position 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 valued at $3,239,850,000 after buying an additional 3,063,203 shares during the period. BlackRock Inc. boosted its position 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 valued at $2,933,263,000 after buying an additional 68,320,480 shares during the period. FMR LLC boosted its position 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 valued at $1,127,886,000 after buying an additional 4,259,181 shares during the period. Theleme Partners LLP boosted its position 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 valued at $556,930,000 after buying an additional 720,000 shares during the period. Finally, Ameriprise Financial Inc. boosted its position 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 valued at $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 39.76 on Monday. The company’s 50-day moving average is $41.90 and its 200 day moving average is $40.95. The company has a market capitalization of $53.24 billion, a price-to-earnings ratio of 26.68 and a beta of 1.63. 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 quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.39 EPS for the quarter, meeting the consensus estimate of $0.39. The firm 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 business’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.30 earnings per share. On average, analysts forecast that The Charles Schwab Corporation will post $1.61 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Friday, August 11th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $0.32 annualized dividend and a dividend yield of 0.80%. The Charles Schwab Corporation’s dividend payout ratio is currently 21.48%.

COPYRIGHT VIOLATION NOTICE: This report was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this report on another website, it was copied illegally and reposted in violation of US and international trademark & copyright legislation. The original version of this report can be viewed at https://www.thecerbatgem.com/2017/08/28/the-charles-schwab-corporation-schw-shares-bought-by-american-century-companies-inc.html.

Several brokerages have issued reports on SCHW. BidaskClub cut shares of The Charles Schwab Corporation from a “hold” rating to a “sell” rating in a research report on Monday, August 14th. Morgan Stanley restated an “overweight” rating and issued a $51.00 price target (up from $48.00) on shares of The Charles Schwab Corporation in a research report on Tuesday, July 25th. Nomura cut shares of The Charles Schwab Corporation from a “buy” rating to a “neutral” rating in a research report on Monday, July 24th. Instinet restated a “neutral” rating and issued a $43.00 price target (down from $46.00) on shares of The Charles Schwab Corporation in a research report on Monday, July 24th. Finally, Argus restated a “buy” rating and issued a $48.00 price target (up 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 given a hold rating and twelve have given a buy rating to the company’s stock. The Charles Schwab Corporation presently has a consensus rating of “Buy” and an average price target of $44.00.

In other news, EVP Joseph R. Martinetto sold 89,330 shares of the firm’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $42.51, for a total transaction of $3,797,418.30. Following the transaction, the executive vice president now owns 207,961 shares in the company, valued at $8,840,422.11. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Terri R. Kallsen sold 10,536 shares of the firm’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $43.15, for a total value of $454,628.40. Following the transaction, the executive vice president now 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 90 days, insiders have sold 924,122 shares of company stock worth $39,694,987. 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.

Want to see what other hedge funds are holding SCHW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Charles Schwab Corporation (NYSE:SCHW).

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

Receive News & Stock Ratings for The Charles Schwab Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Charles Schwab Corporation and related stocks with our FREE daily email newsletter.