Acadian Asset Management LLC Has $1.13 Million Stake in The Charles Schwab Corporation (SCHW)

Acadian Asset Management LLC lowered its position in The Charles Schwab Corporation (NYSE:SCHW) by 50.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,392 shares of the financial services provider’s stock after selling 26,507 shares during the period. Acadian Asset Management LLC’s holdings in The Charles Schwab Corporation were worth $1,133,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in SCHW. WealthTrust Arizona LLC raised its position in shares of The Charles Schwab Corporation by 1.2% in 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 last quarter. Pinnacle Bank acquired a new position in shares of The Charles Schwab Corporation during the first quarter worth about $119,000. First Bank & Trust raised its position in shares of The Charles Schwab Corporation by 3.6% in 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 last quarter. YorkBridge Wealth Partners LLC raised its position in shares of The Charles Schwab Corporation by 9.6% in 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 last quarter. Finally, Quadrant Capital Group LLC raised 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 worth $133,000 after buying an additional 207 shares during the last quarter. Hedge funds and other institutional investors own 79.41% of the company’s stock.

Shares of The Charles Schwab Corporation (NYSE SCHW) traded down 2.19% during trading on Thursday, reaching $41.10. 3,326,092 shares of the company traded hands. The firm’s 50-day moving average is $42.74 and its 200-day moving average is $41.05. The Charles Schwab Corporation has a 12-month low of $29.23 and a 12-month high of $44.10. The stock has a market capitalization of $55.04 billion, a PE ratio of 27.58 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 EPS for the quarter, meeting 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 company 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 posted $0.30 EPS. The firm’s revenue was up 16.5% compared to the same quarter last year. On average, equities analysts predict that The Charles Schwab Corporation will post $1.61 earnings per share for the current fiscal year.

The company also recently declared 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 is Wednesday, August 9th. This represents a $0.32 dividend on an annualized basis and a yield of 0.76%. The Charles Schwab Corporation’s dividend payout ratio is currently 21.48%.

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SCHW has been the topic of a number of analyst reports. Deutsche Bank AG decreased their target price on shares of The Charles Schwab Corporation from $47.00 to $46.00 and set a “buy” rating on the stock in a research report on Tuesday, July 4th. Keefe, Bruyette & Woods restated a “buy” rating and set a $46.00 target price on shares of The Charles Schwab Corporation in a research report on Friday, June 16th. BidaskClub upgraded shares of The Charles Schwab Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Jefferies Group LLC restated a “buy” rating and set a $48.00 target price on shares of The Charles Schwab Corporation in a research report on Wednesday, May 31st. Finally, Citigroup Inc. restated a “buy” rating and set a $43.00 target price (down previously from $45.00) on shares of The Charles Schwab Corporation in a research report on Saturday, April 22nd. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The Charles Schwab Corporation presently has an average rating of “Buy” and a consensus price target of $44.00.

In related news, EVP Terri R. Kallsen sold 10,536 shares of the company’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $43.15, for a total transaction of $454,628.40. Following the completion of the sale, the executive vice president now directly owns 5,212 shares in the company, valued at approximately $224,897.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Charles R. Schwab sold 290,000 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $43.27, for a total transaction of $12,548,300.00. The disclosure for this sale can be found here. Insiders have sold a total of 924,122 shares of company stock valued at $39,694,987 over the last quarter. 12.00% of the stock is currently owned by company 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.

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

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