Rafferty Asset Management LLC trimmed its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 16.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 175,961 shares of the financial services provider’s stock after selling 35,779 shares during the period. Rafferty Asset Management LLC’s holdings in The Charles Schwab Corporation were worth $7,559,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. WealthTrust Arizona LLC raised its holdings in shares of The Charles Schwab Corporation by 1.2% during the second quarter. WealthTrust Arizona LLC now owns 2,466 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 29 shares during the period. Lowe Brockenbrough & Co. Inc. raised its holdings in shares of The Charles Schwab Corporation by 0.9% during the second quarter. Lowe Brockenbrough & Co. Inc. now owns 6,770 shares of the financial services provider’s stock worth $291,000 after purchasing an additional 62 shares during the period. Norway Savings Bank raised its holdings in shares of The Charles Schwab Corporation by 0.7% during the second quarter. Norway Savings Bank now owns 9,583 shares of the financial services provider’s stock worth $412,000 after purchasing an additional 63 shares during the period. Atria Investments LLC raised its holdings in shares of The Charles Schwab Corporation by 0.4% during the second quarter. Atria Investments LLC now owns 15,025 shares of the financial services provider’s stock worth $645,000 after purchasing an additional 65 shares during the period. Finally, Guardian Life Insurance Co. of America raised its holdings in shares of The Charles Schwab Corporation by 1.5% during the first quarter. Guardian Life Insurance Co. of America now owns 4,692 shares of the financial services provider’s stock worth $191,000 after purchasing an additional 70 shares during the period. 79.53% of the stock is currently owned by institutional investors.

A number of analysts have weighed in on SCHW shares. William Blair reissued an “outperform” rating on shares of The Charles Schwab Corporation in a report on Friday, June 16th. Deutsche Bank AG dropped their target price on shares of The Charles Schwab Corporation from $47.00 to $46.00 and set a “buy” rating on the stock in a report on Tuesday, July 4th. BidaskClub cut shares of The Charles Schwab Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $49.00 price objective on shares of The Charles Schwab Corporation in a report on Friday. Finally, Citigroup Inc. assumed 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. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $44.83.

In other The Charles Schwab Corporation news, EVP Terri R. Kallsen sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $38.99, for a total transaction of $38,990.00. Following the completion of the transaction, the executive vice president now owns 5,212 shares of the company’s stock, valued at approximately $203,215.88. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Marie A. Chandoha sold 9,705 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $43.17, for a total value of $418,964.85. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 925,122 shares of company stock valued at $39,733,977. Insiders own 12.00% of the company’s stock.

The Charles Schwab Corporation (SCHW) traded up 1.405% during trading on Monday, hitting $40.775. 1,780,621 shares of the stock traded hands. The stock has a market cap of $54.60 billion, a P/E ratio of 27.366 and a beta of 1.64. The Charles Schwab Corporation has a 52 week low of $29.86 and a 52 week high of $44.10. The firm’s 50-day moving average is $40.53 and its 200 day moving average is $40.80.

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 analysts’ consensus estimates of $0.39. The company had revenue of $2.13 billion during 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 Charles Schwab Corporation’s revenue was up 16.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.30 EPS. Equities research analysts forecast that The Charles Schwab Corporation will post $1.61 earnings per share for the current fiscal year.

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

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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.

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

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