Westfield Capital Management Co. LP lowered its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 9.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,279,960 shares of the financial services provider’s stock after selling 243,707 shares during the quarter. Westfield Capital Management Co. LP owned approximately 0.17% of The Charles Schwab Corporation worth $97,947,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SCHW. BlackRock Inc. increased its position in shares of The Charles Schwab Corporation by 1,921.5% during the 1st quarter. BlackRock Inc. now owns 71,876,119 shares of the financial services provider’s stock worth $2,933,263,000 after purchasing an additional 68,320,480 shares in the last quarter. Findlay Park Partners LLP acquired a new stake in shares of The Charles Schwab Corporation during the 1st quarter worth about $218,669,000. FMR LLC increased its position in shares of The Charles Schwab Corporation by 18.2% during the 1st quarter. FMR LLC now owns 27,637,472 shares of the financial services provider’s stock worth $1,127,886,000 after purchasing an additional 4,259,181 shares in the last quarter. Vanguard Group Inc. increased its position in shares of The Charles Schwab Corporation by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 79,388,639 shares of the financial services provider’s stock worth $3,239,850,000 after purchasing an additional 3,063,203 shares in the last quarter. Finally, Waddell & Reed Financial Inc. increased its position in shares of The Charles Schwab Corporation by 69.3% during the 1st quarter. Waddell & Reed Financial Inc. now owns 6,367,351 shares of the financial services provider’s stock worth $259,851,000 after purchasing an additional 2,605,949 shares in the last quarter. Institutional investors and hedge funds own 79.60% of the company’s stock.

Shares of The Charles Schwab Corporation (NYSE SCHW) traded up 0.55% on Friday, hitting $40.21. 14,222,833 shares of the stock traded hands. The stock has a market cap of $53.85 billion, a PE ratio of 26.99 and a beta of 1.64. The stock has a 50 day moving average of $40.53 and a 200-day moving average of $40.80. The Charles Schwab Corporation has a 1-year low of $29.86 and a 1-year high of $44.10.

The Charles Schwab Corporation (NYSE:SCHW) last released its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.39 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.39. The company had revenue of $2.13 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 16.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.30 earnings per share. On average, equities research analysts expect that The Charles Schwab Corporation will post $1.61 EPS for the current year.

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

A number of brokerages recently 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. Citigroup Inc. began coverage on shares of The Charles Schwab Corporation in a research report on Thursday, July 13th. They set a “neutral” rating and a $46.00 target price for the company. Rosenblatt Securities began coverage on shares of The Charles Schwab Corporation in a research report on Thursday, July 13th. They set a “neutral” rating and a $46.00 target price for the company. Barclays PLC began coverage on shares of The Charles Schwab Corporation in a research report on Friday, September 8th. They set an “overweight” rating and a $48.00 target price for the company. Finally, Deutsche Bank AG cut shares of The Charles Schwab Corporation from a “buy” rating to a “hold” rating and increased their target price for the stock from $40.00 to $43.00 in a research report on Tuesday, July 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company’s stock. The Charles Schwab Corporation presently has a consensus rating of “Buy” and a consensus price target of $44.72.

ILLEGAL ACTIVITY WARNING: This article was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this article on another website, it was illegally stolen and reposted in violation of international trademark & copyright laws. The legal version of this article can be accessed at https://www.thecerbatgem.com/2017/09/16/the-charles-schwab-corporation-schw-position-lessened-by-westfield-capital-management-co-lp.html.

In related news, EVP Terri R. Kallsen sold 10,536 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $43.15, for a total value of $454,628.40. Following the sale, the executive vice president now directly owns 5,212 shares in the company, valued at $224,897.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Terri R. Kallsen sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $38.99, for a total value of $38,990.00. Following the completion of the sale, the executive vice president now owns 5,212 shares in the company, valued at $203,215.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 925,122 shares of company stock worth $39,733,977. Company insiders own 12.00% of the company’s stock.

About The Charles Schwab Corporation

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.