Pacer Advisors Inc. raised its position in The Charles Schwab Corporation (NYSE:SCHW) by 11.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 27,483 shares of the financial services provider’s stock after buying an additional 2,851 shares during the period. Pacer Advisors Inc.’s holdings in The Charles Schwab Corporation were worth $1,181,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Dowling & Yahnke LLC boosted its stake in shares of The Charles Schwab Corporation by 4.9% in the first quarter. Dowling & Yahnke LLC now owns 32,716 shares of the financial services provider’s stock worth $1,335,000 after buying an additional 1,515 shares during the period. Whittier Trust Co. boosted its stake in shares of The Charles Schwab Corporation by 2.9% in the first quarter. Whittier Trust Co. now owns 171,899 shares of the financial services provider’s stock worth $7,015,000 after buying an additional 4,847 shares during the period. AMF Pensionsforsakring AB boosted its stake in shares of The Charles Schwab Corporation by 15.3% in the first quarter. AMF Pensionsforsakring AB now owns 1,831,731 shares of the financial services provider’s stock worth $74,753,000 after buying an additional 243,359 shares during the period. Asset Advisors Corp boosted its stake in shares of The Charles Schwab Corporation by 8.1% in the first quarter. Asset Advisors Corp now owns 168,100 shares of the financial services provider’s stock worth $6,860,000 after buying an additional 12,600 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in shares of The Charles Schwab Corporation by 107.7% in the first quarter. Russell Investments Group Ltd. now owns 1,979,942 shares of the financial services provider’s stock worth $80,796,000 after buying an additional 1,026,615 shares during the period. 79.60% of the stock is currently owned by institutional investors.

The Charles Schwab Corporation (NYSE:SCHW) opened at 39.18 on Wednesday. The firm has a market capitalization of $52.47 billion, a price-to-earnings ratio of 26.30 and a beta of 1.63. The Charles Schwab Corporation has a 12 month low of $29.86 and a 12 month high of $44.10. The company 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 announced its earnings results on Tuesday, July 18th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, hitting the 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 firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the prior year, the company earned $0.30 EPS. The business’s revenue was up 16.5% compared to the same quarter last year. Analysts anticipate 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 was paid on Friday, August 25th. Stockholders of record on Friday, August 11th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.82%. The ex-dividend date was Wednesday, August 9th. The Charles Schwab Corporation’s dividend payout ratio is currently 21.48%.

ILLEGAL ACTIVITY NOTICE: This article was first published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this article on another domain, it was illegally stolen and reposted in violation of international copyright laws. The original version of this article can be accessed at https://www.thecerbatgem.com/2017/08/30/pacer-advisors-inc-raises-stake-in-the-charles-schwab-corporation-schw.html.

A number of analysts recently weighed in on the stock. Deutsche Bank AG cut shares of The Charles Schwab Corporation from a “buy” rating to a “hold” rating and increased their price objective for the stock from $40.00 to $43.00 in a report on Tuesday, July 11th. Morgan Stanley reaffirmed an “overweight” rating and issued a $48.00 price objective (up previously from $45.00) on shares of The Charles Schwab Corporation in a report on Monday, July 10th. Rosenblatt Securities began coverage on shares of The Charles Schwab Corporation in a report on Thursday, July 13th. They issued a “neutral” rating and a $46.00 price objective on the stock. Citigroup Inc. began 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 target price for the company. Finally, BidaskClub lowered shares of The Charles Schwab Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $44.00.

In other news, insider Marie A. Chandoha sold 7,002 shares of the stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $41.96, for a total value of $293,803.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Charles R. Schwab sold 26,000 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $42.80, for a total value of $1,112,800.00. The disclosure for this sale can be found here. Insiders sold a total of 924,122 shares of company stock valued at $39,694,987 in the last three months. 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)

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.