The Charles Schwab Corporation (NYSE:SCHW) Position Increased by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its stake in The Charles Schwab Corporation (NYSE:SCHW) by 1.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,576,199 shares of the financial services provider’s stock after purchasing an additional 491,451 shares during the quarter. JPMorgan Chase & Co. owned about 2.96% of The Charles Schwab Corporation worth $1,700,193,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. WealthTrust Arizona LLC boosted 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 buying an additional 29 shares during the period. First Bank & Trust boosted its position in shares of The Charles Schwab Corporation by 3.6% during the first quarter. First Bank & Trust now owns 3,125 shares of the financial services provider’s stock worth $128,000 after buying an additional 109 shares during the period. YorkBridge Wealth Partners LLC boosted 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 buying an additional 287 shares during the period. Shine Investment Advisory Services Inc. acquired a new position in shares of The Charles Schwab Corporation during the second quarter worth about $145,000. Finally, FTB Advisors Inc. boosted 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 buying an additional 3,025 shares during the period. Institutional investors and hedge funds own 79.60% of the company’s stock.

In other The Charles Schwab Corporation news, Chairman Charles R. Schwab sold 350,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $43.10, for a total value of $15,085,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Terri R. Kallsen sold 1,000 shares of the business’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $38.99, for a total transaction of $38,990.00. Following the completion of the sale, the executive vice president now directly owns 5,212 shares of the company’s stock, valued at $203,215.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 925,122 shares of company stock worth $39,733,977. Insiders own 12.00% of the company’s stock.

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Shares of The Charles Schwab Corporation (SCHW) opened at 40.21 on Friday. The firm has a 50 day moving average price of $40.53 and a 200-day moving average price of $40.80. The Charles Schwab Corporation has a one year low of $29.86 and a one year high of $44.10. The firm has a market cap of $53.85 billion, a P/E ratio of 26.99 and a beta of 1.64.

The Charles Schwab Corporation (NYSE:SCHW) last announced its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.39 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.39. The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.13 billion. The Charles Schwab Corporation had a net margin of 26.73% and a return on equity of 15.41%. The company’s revenue was up 16.5% on a year-over-year basis. During the same period last year, the firm earned $0.30 EPS. Analysts forecast that The Charles Schwab Corporation will post $1.61 earnings per share for the current year.

The business also recently declared 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 was Wednesday, August 9th. This represents a $0.32 dividend on an annualized basis and a yield of 0.80%. The Charles Schwab Corporation’s dividend payout ratio is currently 21.48%.

Several brokerages recently commented on SCHW. William Blair reissued an “outperform” rating on shares of The Charles Schwab Corporation in a research report on Friday, June 16th. Deutsche Bank AG reduced their price target on The Charles Schwab Corporation from $47.00 to $46.00 and set a “buy” rating for the company in a research report on Tuesday, July 4th. BidaskClub cut The Charles Schwab Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Jefferies Group LLC restated a “buy” rating and issued a $49.00 price objective on shares of The Charles Schwab Corporation in a research note on Friday. Finally, Citigroup Inc. assumed coverage on The Charles Schwab Corporation in a research note on Thursday, July 13th. They issued a “neutral” rating and a $46.00 price objective on the stock. One research 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 Charles Schwab Corporation presently has a consensus rating of “Buy” and a consensus price target 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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