BlackRock Inc. lifted its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 2.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,666,134 shares of the financial services provider’s stock after acquiring an additional 1,790,015 shares during the quarter. BlackRock Inc. owned approximately 5.51% of The Charles Schwab Corporation worth $3,164,699,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. WealthTrust Arizona LLC raised its position 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 acquiring an additional 29 shares during the last quarter. YorkBridge Wealth Partners LLC raised its position in shares of The Charles Schwab Corporation by 9.6% during the first quarter. YorkBridge Wealth Partners LLC now owns 3,267 shares of the financial services provider’s stock worth $131,000 after acquiring an additional 287 shares during the last quarter. Shine Investment Advisory Services Inc. bought a new position in shares of The Charles Schwab Corporation during the second quarter worth about $145,000. FTB Advisors Inc. raised its position in shares of The Charles Schwab Corporation by 365.8% during the first quarter. FTB Advisors Inc. now owns 3,852 shares of the financial services provider’s stock worth $151,000 after acquiring an additional 3,025 shares during the last quarter. Finally, Founders Capital Management bought a new position in shares of The Charles Schwab Corporation during the first quarter worth about $159,000. Institutional investors own 79.60% of the company’s stock.

A number of equities analysts have recently issued reports on the company. Deutsche Bank AG downgraded The Charles Schwab Corporation from a “buy” rating to a “hold” rating and raised their price objective for the stock from $40.00 to $43.00 in a research report on Tuesday, July 11th. Morgan Stanley restated an “overweight” rating and set a $48.00 price objective (up from $45.00) on shares of The Charles Schwab Corporation in a research report on Monday, July 10th. Rosenblatt Securities assumed coverage on The Charles Schwab Corporation in a research report on Thursday, July 13th. They set a “neutral” rating and a $46.00 price objective for the company. Citigroup Inc. began coverage on The Charles Schwab Corporation in a research report on Thursday, July 13th. They set a “neutral” rating and a $46.00 price objective for the company. Finally, BidaskClub downgraded The Charles Schwab Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the stock. The Charles Schwab Corporation has an average rating of “Buy” and an average price target of $44.72.

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Shares of The Charles Schwab Corporation (NYSE:SCHW) traded up 0.55% during midday trading on Thursday, reaching $40.02. The company’s stock had a trading volume of 2,409,223 shares. The stock has a 50-day moving average price of $40.77 and a 200-day moving average price of $40.82. The Charles Schwab Corporation has a 52-week low of $29.86 and a 52-week high of $44.10. The stock has a market cap of $53.59 billion, a price-to-earnings ratio of 26.86 and a beta of 1.64.

The Charles Schwab Corporation (NYSE:SCHW) last released 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 business had revenue of $2.13 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.30 EPS. Equities research analysts anticipate that The Charles Schwab Corporation will post $1.62 earnings per share for the current fiscal year.

The firm 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 payout ratio is 21.48%.

In other news, EVP Terri R. Kallsen sold 1,000 shares of the stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $38.99, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Charles R. Schwab sold 290,000 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $43.27, for a total value of $12,548,300.00. The disclosure for this sale can be found here. Insiders have sold a total of 925,122 shares of company stock valued at $39,733,977 in the last ninety days. 12.00% of the stock is currently owned by corporate 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.

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

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