The Creative Planning Acquires 678 Shares of The Charles Schwab Corporation (SCHW)

The Creative Planning Acquires 678 Shares of The Charles Schwab Corporation (SCHW)

Other large investors have also made changes to their positions in the company. Cullinan Associates Inc. increased its stake in shares of The Charles Schwab Corporation by 7.0% in the second quarter. Cullinan Associates Inc. now owns 102,300 shares of the financial services provider’s stock valued at $4,395,000 after buying an additional 6,700 shares during the last quarter. Trust Co. of Vermont increased its stake in shares of The Charles Schwab Corporation by 5.5% in the second quarter. Trust Co. of Vermont now owns 24,638 shares of the financial services provider’s stock valued at $1,059,000 after buying an additional 1,279 shares during the last quarter. NEXT Financial Group Inc increased its stake in shares of The Charles Schwab Corporation by 15.9% in the second quarter. NEXT Financial Group Inc now owns 10,599 shares of the financial services provider’s stock valued at $455,000 after buying an additional 1,454 shares during the last quarter. Hills Bank & Trust Co. increased its stake in shares of The Charles Schwab Corporation by 4.2% in the second quarter. Hills Bank & Trust Co. now owns 31,982 shares of the financial services provider’s stock valued at $1,374,000 after buying an additional 1,278 shares during the last quarter. Finally, Bank of The West increased its stake in shares of The Charles Schwab Corporation by 43.7% in the second quarter. Bank of The West now owns 69,544 shares of the financial services provider’s stock valued at $2,988,000 after buying an additional 21,156 shares during the last quarter. 79.25% of the stock is currently owned by hedge funds and other institutional investors.

Creative Planning raised its stake in The Charles Schwab Corporation (NYSE:SCHW) by 1.4% during the second quarter, Holdings Channel reports. The fund owned 49,431 shares of the financial services provider’s stock after buying an additional 678 shares during the period. Creative Planning’s holdings in The Charles Schwab Corporation were worth $2,124,000 as of its most recent filing with the SEC.

Shares of The Charles Schwab Corporation (NYSE SCHW) traded down 0.42% on Wednesday, hitting $42.95. 2,598,349 shares of the stock traded hands. The firm has a market cap of $57.47 billion, a P/E ratio of 28.83 and a beta of 1.63. The Charles Schwab Corporation has a 12-month low of $27.87 and a 12-month high of $44.10. The firm’s 50-day moving average is $42.64 and its 200 day moving average is $40.97.

The Charles Schwab Corporation (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.39. The business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.13 billion. The Charles Schwab Corporation had a net margin of 26.73% and a return on equity of 15.69%. The business’s revenue was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.30 earnings per share. Equities research analysts forecast that The Charles Schwab Corporation will post $1.61 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Friday, August 11th will be paid a $0.08 dividend. The ex-dividend date is Wednesday, August 9th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.74%. The Charles Schwab Corporation’s dividend payout ratio (DPR) is presently 21.48%.

Several brokerages recently weighed in on SCHW. Morgan Stanley reaffirmed an “overweight” rating and set a $51.00 target price (up from $48.00) on shares of The Charles Schwab Corporation in a research note on Tuesday, July 25th. Nomura downgraded shares of The Charles Schwab Corporation from a “buy” rating to a “neutral” rating in a research note on Monday, July 24th. Instinet reaffirmed a “neutral” rating and set a $43.00 target price (down from $46.00) on shares of The Charles Schwab Corporation in a research note on Monday, July 24th. Argus reaffirmed a “buy” rating and set a $48.00 target price (up from $46.00) on shares of The Charles Schwab Corporation in a research note on Friday, July 21st. Finally, BidaskClub downgraded shares of The Charles Schwab Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $44.00.

In related news, Chairman Charles R. Schwab sold 26,000 shares of The Charles Schwab Corporation stock in a transaction on Monday, July 31st. The shares were sold at an average price of $42.80, for a total value of $1,112,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Terri R. Kallsen sold 10,536 shares of The Charles Schwab Corporation stock in a transaction on Monday, July 3rd. The stock was 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 owns 5,212 shares of the company’s stock, valued at approximately $224,897.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 601,913 shares of company stock valued at $25,768,146. Insiders own 12.00% of the company’s stock.

About The Charles Schwab Corporation

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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