The Charles Schwab Co. (NYSE:SCHW) Holdings Cut by Blume Capital Management Inc.

Blume Capital Management Inc. trimmed its position in The Charles Schwab Co. (NYSE:SCHW) by 1.6% during the second quarter, Holdings Channel.com reports. The firm owned 130,767 shares of the financial services provider’s stock after selling 2,075 shares during the period. The Charles Schwab accounts for about 3.5% of Blume Capital Management Inc.’s holdings, making the stock its 7th largest holding. Blume Capital Management Inc.’s holdings in The Charles Schwab were worth $9,521,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. National Asset Management Inc. lifted its holdings in The Charles Schwab by 39.7% in the 2nd quarter. National Asset Management Inc. now owns 50,499 shares of the financial services provider’s stock valued at $3,324,000 after purchasing an additional 14,356 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in The Charles Schwab by 1.4% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 207,183 shares of the financial services provider’s stock valued at $15,085,000 after purchasing an additional 2,945 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of The Charles Schwab by 1.7% during the 2nd quarter. Principal Financial Group Inc. now owns 4,005,655 shares of the financial services provider’s stock valued at $291,652,000 after acquiring an additional 66,022 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of The Charles Schwab by 7.4% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 86,459 shares of the financial services provider’s stock valued at $6,295,000 after acquiring an additional 5,928 shares during the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC increased its stake in shares of The Charles Schwab by 34.7% during the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 6,433 shares of the financial services provider’s stock valued at $468,000 after acquiring an additional 1,656 shares during the last quarter. Institutional investors own 71.66% of the company’s stock.

A number of research analysts have recently commented on SCHW shares. The Goldman Sachs Group downgraded shares of The Charles Schwab from a “buy” rating to a “neutral” rating and set a $76.00 price objective for the company. in a research note on Thursday, July 8th. Zacks Investment Research downgraded shares of The Charles Schwab from a “buy” rating to a “hold” rating and set a $77.00 target price for the company. in a research report on Tuesday, June 15th. Citigroup dropped their target price on shares of The Charles Schwab from $94.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, July 19th. increased their target price on shares of The Charles Schwab from $93.00 to $94.00 and gave the stock a “buy” rating in a research report on Monday, July 12th. Finally, JMP Securities increased their target price on shares of The Charles Schwab from $83.00 to $85.00 and gave the stock a “market outperform” rating in a research report on Friday, July 23rd. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, The Charles Schwab has an average rating of “Buy” and an average price target of $81.41.

Shares of The Charles Schwab stock traded up $0.57 on Wednesday, hitting $70.30. 44,721 shares of the company’s stock traded hands, compared to its average volume of 7,340,597. The stock has a market cap of $127.04 billion, a P/E ratio of 29.42 and a beta of 1.05. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.39. The firm’s 50-day moving average is $71.08 and its 200 day moving average is $69.99. The Charles Schwab Co. has a 52-week low of $33.79 and a 52-week high of $76.37.

The Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Thursday, July 15th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by ($0.01). The Charles Schwab had a return on equity of 12.89% and a net margin of 28.88%. The firm had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.46 billion. During the same quarter last year, the business earned $0.54 earnings per share. The business’s revenue for the quarter was up 84.8% compared to the same quarter last year. Equities research analysts forecast that The Charles Schwab Co. will post 3.14 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 27th. Investors of record on Friday, August 13th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Thursday, August 12th. The Charles Schwab’s dividend payout ratio (DPR) is presently 29.39%.

In other The Charles Schwab news, Chairman Charles R. Schwab sold 28,000 shares of the stock in a transaction on Monday, June 21st. The stock was sold at an average price of $71.30, for a total value of $1,996,400.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Peter B. Crawford sold 4,500 shares of the stock in a transaction on Monday, August 23rd. The stock was sold at an average price of $72.42, for a total value of $325,890.00. The disclosure for this sale can be found here. Insiders have sold 541,260 shares of company stock worth $39,392,289 over the last 90 days. 7.50% of the stock is currently owned by company insiders.

The Charles Schwab Company Profile

The Charles Schwab Corp. is a savings and loan holding company, which engages in the provision of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. It operates through the Investor Services and Advisor Services segments. The Investor Services segment includes retail brokerage and banking services to individual investors, and retirement plan services, as well as other corporate brokerage services, to businesses and their employees.

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

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