Texas Permanent School Fund reduced its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 3.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 341,882 shares of the financial services provider’s stock after selling 13,067 shares during the period. Texas Permanent School Fund’s holdings in The Charles Schwab Corporation were worth $14,687,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Bank of Montreal Can increased its stake in The Charles Schwab Corporation by 25.4% in the first quarter. Bank of Montreal Can now owns 1,125,778 shares of the financial services provider’s stock valued at $45,943,000 after buying an additional 227,859 shares during the last quarter. TNB Financial bought a new stake in The Charles Schwab Corporation during the first quarter valued at about $7,276,000. Inverness Counsel LLC NY increased its stake in The Charles Schwab Corporation by 28.8% in the first quarter. Inverness Counsel LLC NY now owns 602,246 shares of the financial services provider’s stock valued at $23,126,000 after buying an additional 134,690 shares during the last quarter. Parametrica Management Ltd bought a new stake in The Charles Schwab Corporation during the first quarter valued at about $379,000. Finally, Atria Investments LLC increased its stake in The Charles Schwab Corporation by 2.3% in the first quarter. Atria Investments LLC now owns 14,960 shares of the financial services provider’s stock valued at $611,000 after buying an additional 341 shares during the last quarter. 79.41% of the stock is owned by institutional investors.

The Charles Schwab Corporation (SCHW) opened at 40.65 on Friday. The company has a 50-day moving average price of $42.68 and a 200-day moving average price of $41.04. The firm has a market cap of $54.44 billion, a P/E ratio of 27.28 and a beta of 1.63. The Charles Schwab Corporation has a 12-month low of $29.83 and a 12-month high of $44.10.

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, meeting the Zacks’ 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 for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the firm earned $0.30 EPS. The Charles Schwab Corporation’s revenue for the quarter was up 16.5% compared to the same quarter last year. On average, analysts predict that The Charles Schwab Corporation will post $1.61 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Friday, August 11th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend is Wednesday, August 9th. The Charles Schwab Corporation’s dividend payout ratio is presently 21.48%.

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SCHW has been the topic of several recent analyst reports. William Blair restated an “outperform” rating on shares of The Charles Schwab Corporation in a report on Friday, June 16th. Deutsche Bank AG cut their price objective on 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 downgraded The Charles Schwab Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Citigroup Inc. initiated coverage on The Charles Schwab Corporation in a report on Thursday, July 13th. They set a “neutral” rating and a $46.00 price objective on the stock. Finally, Rosenblatt Securities initiated coverage on The Charles Schwab Corporation in a report on Thursday, July 13th. They set a “neutral” rating and a $46.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $44.00.

In other The Charles Schwab Corporation news, EVP Terri R. Kallsen sold 10,536 shares of the business’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 of the company’s stock, valued at approximately $224,897.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Marie A. Chandoha sold 7,002 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $41.96, for a total value of $293,803.92. The disclosure for this sale can be found here. In the last three months, insiders sold 924,122 shares of company stock worth $39,694,987. 12.00% of the stock is owned by 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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