HighTower Advisors LLC increased its position in The Charles Schwab Corporation (NYSE:SCHW) by 3.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 219,260 shares of the financial services provider’s stock after purchasing an additional 6,348 shares during the quarter. HighTower Advisors LLC’s holdings in The Charles Schwab Corporation were worth $9,420,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. American Century Companies Inc. lifted its position in The Charles Schwab Corporation by 19.4% in the second quarter. American Century Companies Inc. now owns 4,139,650 shares of the financial services provider’s stock worth $177,839,000 after purchasing an additional 673,011 shares during the period. Principal Financial Group Inc. lifted its position in The Charles Schwab Corporation by 17.3% in the second quarter. Principal Financial Group Inc. now owns 3,100,144 shares of the financial services provider’s stock worth $133,182,000 after purchasing an additional 457,591 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its position in The Charles Schwab Corporation by 1.6% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,417,577 shares of the financial services provider’s stock worth $103,859,000 after purchasing an additional 38,306 shares during the period. Bank of Nova Scotia lifted its position in The Charles Schwab Corporation by 932.5% in the first quarter. Bank of Nova Scotia now owns 278,070 shares of the financial services provider’s stock worth $11,348,000 after purchasing an additional 251,139 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in The Charles Schwab Corporation by 1.3% in the second quarter. JPMorgan Chase & Co. now owns 39,576,199 shares of the financial services provider’s stock worth $1,700,193,000 after purchasing an additional 491,451 shares during the period. 79.53% of the stock is owned by hedge funds and other institutional investors.

In related news, EVP Terri R. Kallsen sold 1,000 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 5,212 shares in the company, valued at approximately $203,215.88. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Terri R. Kallsen sold 2,000 shares of the company’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $43.07, for a total value of $86,140.00. Following the sale, the executive vice president now owns 5,212 shares of the company’s stock, valued at $224,480.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,005,884 shares of company stock valued at $43,286,361. 12.00% of the stock is owned by corporate insiders.

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A number of research analysts have issued reports on the company. Nomura cut The Charles Schwab Corporation from a “buy” rating to a “neutral” rating in a report on Monday, July 24th. BidaskClub raised The Charles Schwab Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. Instinet reissued a “neutral” rating and set a $43.00 price objective (down from $46.00) on shares of The Charles Schwab Corporation in a report on Monday, July 24th. Argus reissued a “buy” rating and set a $48.00 price objective (up from $46.00) on shares of The Charles Schwab Corporation in a report on Friday, July 21st. Finally, Morgan Stanley reissued an “overweight” rating and set a $51.00 price objective (up from $48.00) on shares of The Charles Schwab Corporation in a report on Tuesday, July 25th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $45.47.

Shares of The Charles Schwab Corporation (SCHW) traded up 0.25% during mid-day trading on Friday, reaching $43.74. The company had a trading volume of 5,346,806 shares. The company has a market cap of $58.57 billion, a price-to-earnings ratio of 29.36 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 price is $40.42 and its 200 day moving average price is $40.76. The Charles Schwab Corporation also was the target of unusually large options trading on Wednesday. Investors acquired 6,534 put options on the stock. This represents an increase of 774% compared to the average daily volume of 748 put options.

The Charles Schwab Corporation (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.39 earnings per share 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 business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the prior year, the company earned $0.30 EPS. The Charles Schwab Corporation’s revenue for the quarter was up 16.5% on a year-over-year basis. Equities analysts expect that The Charles Schwab Corporation will post $1.61 EPS for the current year.

The Charles Schwab Corporation 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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