Capital Growth Management LP purchased a new stake in shares of The Charles Schwab Corporation (NYSE:SCHW) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 890,000 shares of the financial services provider’s stock, valued at approximately $38,234,000. The Charles Schwab Corporation comprises about 1.7% of Capital Growth Management LP’s portfolio, making the stock its 24th largest position. Capital Growth Management LP owned about 0.07% of The Charles Schwab Corporation as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Ithaka Group LLC raised its stake in shares of The Charles Schwab Corporation by 28.2% during the second quarter. Ithaka Group LLC now owns 331,296 shares of the financial services provider’s stock valued at $14,232,000 after acquiring an additional 72,836 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of The Charles Schwab Corporation by 2.8% during the second quarter. UBS Asset Management Americas Inc. now owns 3,320,186 shares of the financial services provider’s stock valued at $142,635,000 after acquiring an additional 90,281 shares during the last quarter. Quantitative Investment Management LLC bought a new position in shares of The Charles Schwab Corporation during the second quarter valued at $24,607,000. New York State Common Retirement Fund raised its stake in shares of The Charles Schwab Corporation by 11.2% during the second quarter. New York State Common Retirement Fund now owns 4,236,225 shares of the financial services provider’s stock valued at $181,988,000 after acquiring an additional 426,721 shares during the last quarter. Finally, BRYN MAWR TRUST Co raised its stake in shares of The Charles Schwab Corporation by 3.8% during the second quarter. BRYN MAWR TRUST Co now owns 44,775 shares of the financial services provider’s stock valued at $1,923,000 after acquiring an additional 1,623 shares during the last quarter. 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 stock in a transaction dated Wednesday, September 6th. The shares were 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 directly owns 5,212 shares in the company, valued at approximately $203,215.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Charles R. Schwab sold 26,000 shares of the stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $42.80, for a total transaction of $1,112,800.00. The disclosure for this sale can be found here. Insiders sold a total of 925,122 shares of company stock valued at $39,733,977 over the last 90 days. Company insiders own 12.00% of the company’s stock.

The Charles Schwab Corporation (NYSE:SCHW) traded up 0.603% during midday trading on Tuesday, reaching $40.895. 1,987,677 shares of the company’s stock traded hands. 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 $54.76 billion, a P/E ratio of 27.446 and a beta of 1.64. The company’s 50-day moving average price is $40.48 and its 200-day moving average price is $40.77.

The Charles Schwab Corporation (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.39 EPS for the quarter, hitting the Thomson Reuters’ 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 business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period in the prior year, the business earned $0.30 EPS. The company’s revenue for the quarter was up 16.5% on a year-over-year basis. On average, equities analysts predict that The Charles Schwab Corporation will post $1.61 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Friday, August 11th were issued a $0.08 dividend. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $0.32 annualized dividend and a yield of 0.79%. The Charles Schwab Corporation’s dividend payout ratio (DPR) is presently 21.48%.

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Several equities analysts have recently issued reports on SCHW shares. Deutsche Bank AG dropped their price target on shares of The Charles Schwab Corporation from $47.00 to $46.00 and set a “buy” rating for the company in a research note on Tuesday, July 4th. Wells Fargo & Company reaffirmed a “market perform” rating and set a $44.00 price target (up previously from $42.00) on shares of The Charles Schwab Corporation in a research note on Monday, June 12th. BidaskClub downgraded shares of The Charles Schwab Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, September 8th. Morgan Stanley reaffirmed an “overweight” rating and set a $48.00 price target (up previously from $45.00) on shares of The Charles Schwab Corporation in a research note on Monday, July 10th. Finally, Citigroup Inc. started coverage on shares of The Charles Schwab Corporation in a research note on Thursday, July 13th. They set a “neutral” rating and a $46.00 price target for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $44.83.

The Charles Schwab Corporation Company 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.

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

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