Montag & Caldwell LLC increased its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 122.2% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 2,401,590 shares of the financial services provider’s stock after buying an additional 1,320,573 shares during the period. The Charles Schwab Corporation accounts for 3.0% of Montag & Caldwell LLC’s portfolio, making the stock its 17th largest position. Montag & Caldwell LLC owned approximately 0.18% of The Charles Schwab Corporation worth $103,172,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Mn Services Vermogensbeheer B.V. boosted its stake in The Charles Schwab Corporation by 3.2% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 31,819 shares of the financial services provider’s stock valued at $1,214,000 after buying an additional 997 shares during the last quarter. Ferguson Wellman Capital Management Inc. acquired a new stake in The Charles Schwab Corporation during the first quarter valued at about $201,000. Loeb Partners Corp acquired a new stake in The Charles Schwab Corporation during the first quarter valued at about $612,000. Candriam Luxembourg S.C.A. boosted its stake in The Charles Schwab Corporation by 29.3% in the first quarter. Candriam Luxembourg S.C.A. now owns 75,901 shares of the financial services provider’s stock valued at $3,098,000 after buying an additional 17,179 shares during the last quarter. Finally, Douglas Lane & Associates LLC boosted its stake in The Charles Schwab Corporation by 39.9% in the first quarter. Douglas Lane & Associates LLC now owns 161,641 shares of the financial services provider’s stock valued at $6,597,000 after buying an additional 46,100 shares during the last quarter. 79.45% of the stock is currently owned by institutional investors.
Shares of The Charles Schwab Corporation (NYSE:SCHW) opened at 39.51 on Friday. The Charles Schwab Corporation has a 52-week low of $29.86 and a 52-week high of $44.10. The firm has a 50-day moving average of $42.40 and a 200-day moving average of $40.98. The company has a market cap of $52.91 billion, a P/E ratio of 26.52 and a beta of 1.63.
The Charles Schwab Corporation (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, hitting the Zacks’ 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 analysts’ expectations of $2.13 billion. During the same quarter last year, the company posted $0.30 earnings per share. The business’s quarterly revenue was up 16.5% on a year-over-year basis. Equities research analysts forecast that The Charles Schwab Corporation will post $1.61 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Friday, August 11th will be issued 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 0.81%. The Charles Schwab Corporation’s dividend payout ratio (DPR) is presently 21.48%.
Several analysts have commented on SCHW shares. Deutsche Bank AG lowered shares of 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 report on Tuesday, July 11th. Morgan Stanley restated an “overweight” rating and issued a $48.00 price objective (up from $45.00) on shares of The Charles Schwab Corporation in a report on Monday, July 10th. Citigroup Inc. started coverage on shares of The Charles Schwab Corporation in a report on Thursday, July 13th. They issued a “neutral” rating and a $46.00 price objective for the company. Rosenblatt Securities started coverage on shares of The Charles Schwab Corporation in a report on Thursday, July 13th. They issued a “neutral” rating and a $46.00 price objective for the company. Finally, BidaskClub lowered shares of The Charles Schwab Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company’s stock. The Charles Schwab Corporation has an average rating of “Buy” and a consensus price target of $44.00.
In related news, Chairman Charles R. Schwab sold 26,000 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $42.80, for a total transaction of $1,112,800.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Marie A. Chandoha sold 7,002 shares of the firm’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $41.96, for a total transaction of $293,803.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 924,122 shares of company stock valued at $39,694,987. 12.00% of the stock is currently owned by corporate insiders.
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.
Want to see what other hedge funds are holding SCHW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Charles Schwab Corporation (NYSE:SCHW).
Receive News & Ratings for The Charles Schwab Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Charles Schwab Corporation and related companies with MarketBeat.com's FREE daily email newsletter.
