Great West Life Assurance Co. Can increased its stake in The Charles Schwab Corporation (NYSE:SCHW) by 40.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 1,200,886 shares of the financial services provider’s stock after buying an additional 343,259 shares during the period. Great West Life Assurance Co. Can’s holdings in The Charles Schwab Corporation were worth $51,514,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. WealthTrust Arizona LLC boosted its position in shares of The Charles Schwab Corporation by 1.2% in the second quarter. WealthTrust Arizona LLC now owns 2,466 shares of the financial services provider’s stock worth $106,000 after buying an additional 29 shares in the last quarter. Norway Savings Bank boosted its position in shares of The Charles Schwab Corporation by 0.7% in the second quarter. Norway Savings Bank now owns 9,583 shares of the financial services provider’s stock worth $412,000 after buying an additional 63 shares in the last quarter. Atria Investments LLC boosted its position in shares of The Charles Schwab Corporation by 0.4% in the second quarter. Atria Investments LLC now owns 15,025 shares of the financial services provider’s stock worth $645,000 after buying an additional 65 shares in the last quarter. Mitchell Sinkler & Starr PA boosted its position in shares of The Charles Schwab Corporation by 0.6% in the first quarter. Mitchell Sinkler & Starr PA now owns 11,960 shares of the financial services provider’s stock worth $488,000 after buying an additional 70 shares in the last quarter. Finally, Guardian Life Insurance Co. of America boosted its position in shares of The Charles Schwab Corporation by 1.5% in 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 buying an additional 70 shares in the last quarter. 79.41% of the stock is currently owned by institutional investors and hedge funds.

Shares of The Charles Schwab Corporation (NYSE:SCHW) opened at 42.02 on Thursday. The firm has a 50 day moving average of $42.74 and a 200 day moving average of $41.05. The Charles Schwab Corporation has a 52 week low of $29.23 and a 52 week high of $44.10. The firm has a market cap of $56.22 billion, a price-to-earnings ratio of 28.20 and a beta of 1.63.

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 Zacks’ consensus estimate of $0.39. The Charles Schwab Corporation had a net margin of 26.73% and a return on equity of 15.41%. The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the prior year, the business earned $0.30 earnings per share. The Charles Schwab Corporation’s quarterly revenue was up 16.5% on a year-over-year basis. Equities analysts predict that The Charles Schwab Corporation will post $1.61 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Friday, August 11th will be given a dividend of $0.08 per share. The ex-dividend date is Wednesday, August 9th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.76%. The Charles Schwab Corporation’s payout ratio is 21.48%.

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A number of brokerages have issued reports on SCHW. Morgan Stanley reissued an “overweight” rating and issued a $51.00 target price (up previously from $48.00) on shares of The Charles Schwab Corporation in a report on Tuesday, July 25th. Nomura cut shares of The Charles Schwab Corporation from a “buy” rating to a “neutral” rating in a report on Monday, July 24th. Instinet reissued a “neutral” rating and issued a $43.00 target price (down previously from $46.00) on shares of The Charles Schwab Corporation in a report on Monday, July 24th. Argus reissued a “buy” rating and issued a $48.00 target price (up previously from $46.00) on shares of The Charles Schwab Corporation in a report on Friday, July 21st. Finally, BidaskClub cut shares of The Charles Schwab Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $44.00.

In other news, insider Marie A. Chandoha sold 7,002 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $41.96, for a total transaction of $293,803.92. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $454,628.40. Following the transaction, the executive vice president now owns 5,212 shares in the company, valued at $224,897.80. The disclosure for this sale can be found here. Insiders have sold 924,122 shares of company stock worth $39,694,987 over the last quarter. 12.00% of the stock is owned by company insiders.

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.

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

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