Cohen Capital Management Inc. Maintains Stake in The Charles Schwab Corporation (SCHW)

Cohen Capital Management Inc. held its position in shares of The Charles Schwab Corporation (NYSE:SCHW) during the second quarter, Holdings Channel reports. The fund owned 243,716 shares of the financial services provider’s stock at the end of the second quarter. The Charles Schwab Corporation makes up about 2.6% of Cohen Capital Management Inc.’s investment portfolio, making the stock its 6th largest position. Cohen Capital Management Inc.’s holdings in The Charles Schwab Corporation were worth $10,470,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. WCM Investment Management CA acquired a new position in shares of The Charles Schwab Corporation during the first quarter valued at $29,028,000. National Pension Service increased its position in shares of The Charles Schwab Corporation by 0.3% in the first quarter. National Pension Service now owns 908,941 shares of the financial services provider’s stock valued at $37,394,000 after buying an additional 2,591 shares during the period. Quadrant Capital Group LLC increased its position in shares of The Charles Schwab Corporation by 6.4% in the first quarter. Quadrant Capital Group LLC now owns 3,449 shares of the financial services provider’s stock valued at $133,000 after buying an additional 207 shares during the period. Gulf International Bank UK Ltd increased its position in shares of The Charles Schwab Corporation by 2.4% in the first quarter. Gulf International Bank UK Ltd now owns 370,106 shares of the financial services provider’s stock valued at $15,104,000 after buying an additional 8,565 shares during the period. Finally, Stock Yards Bank & Trust Co. increased its position in shares of The Charles Schwab Corporation by 2.3% in the first quarter. Stock Yards Bank & Trust Co. now owns 304,973 shares of the financial services provider’s stock valued at $12,446,000 after buying an additional 6,783 shares during the period. Hedge funds and other institutional investors own 79.25% of the company’s stock.

The Charles Schwab Corporation (SCHW) traded up 0.56% during midday trading on Tuesday, hitting $43.14. The stock had a trading volume of 1,871,414 shares. The firm has a market cap of $57.72 billion, a P/E ratio of 28.95 and a beta of 1.63. The Charles Schwab Corporation has a 12-month low of $27.71 and a 12-month high of $44.10. The stock has a 50-day moving average price of $42.60 and a 200 day moving average price of $40.96.

The Charles Schwab Corporation (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.39. The Charles Schwab Corporation had a return on equity of 15.69% and a net margin of 26.73%. The firm had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the firm posted $0.30 EPS. The company’s quarterly revenue was up 16.5% compared to the same quarter last year. On average, equities analysts anticipate that The Charles Schwab Corporation will post $1.61 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Friday, August 11th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $0.32 annualized dividend and a dividend yield of 0.75%. The Charles Schwab Corporation’s dividend payout ratio is currently 21.48%.

Several brokerages recently weighed in on SCHW. Deutsche Bank AG downgraded The Charles Schwab Corporation from a “buy” rating to a “hold” rating and boosted their target price for the stock from $40.00 to $43.00 in a research note on Tuesday, July 11th. 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 report on Monday, July 10th. Citigroup Inc. started coverage on The Charles Schwab Corporation in a research report on Thursday, July 13th. They set a “neutral” rating and a $46.00 price target for the company. Rosenblatt Securities started coverage on The Charles Schwab Corporation in a research report on Thursday, July 13th. They set a “neutral” rating and a $46.00 price target for the company. Finally, BidaskClub cut The Charles Schwab Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $44.00.

In related news, EVP Joseph R. Martinetto sold 115,642 shares of The Charles Schwab Corporation stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $42.10, for a total transaction of $4,868,528.20. Following the completion of the transaction, the executive vice president now directly owns 210,868 shares in the company, valued at approximately $8,877,542.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Joseph R. Martinetto sold 89,330 shares of The Charles Schwab Corporation stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $42.51, for a total value of $3,797,418.30. Following the transaction, the executive vice president now owns 207,961 shares of the company’s stock, valued at $8,840,422.11. The disclosure for this sale can be found here. Insiders have sold a total of 216,208 shares of company stock valued at $9,151,381 over the last 90 days. Insiders own 12.00% of the company’s stock.

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.

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