NEXT Financial Group Inc Has $455,000 Position in The Charles Schwab Corporation (SCHW)

NEXT Financial Group Inc increased its stake in The Charles Schwab Corporation (NYSE:SCHW) by 15.9% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 10,599 shares of the financial services provider’s stock after buying an additional 1,454 shares during the period. NEXT Financial Group Inc’s holdings in The Charles Schwab Corporation were worth $455,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SCHW. BlackRock Inc. boosted its position in The Charles Schwab Corporation by 1,921.5% in the first quarter. BlackRock Inc. now owns 71,876,119 shares of the financial services provider’s stock valued at $2,933,263,000 after buying an additional 68,320,480 shares in the last quarter. Findlay Park Partners LLP acquired a new position in The Charles Schwab Corporation during the first quarter valued at about $218,669,000. FMR LLC boosted its position in The Charles Schwab Corporation by 18.2% in the first quarter. FMR LLC now owns 27,637,472 shares of the financial services provider’s stock valued at $1,127,886,000 after buying an additional 4,259,181 shares in the last quarter. Vanguard Group Inc. boosted its position in The Charles Schwab Corporation by 4.0% in the first quarter. Vanguard Group Inc. now owns 79,388,639 shares of the financial services provider’s stock valued at $3,239,850,000 after buying an additional 3,063,203 shares in the last quarter. Finally, Waddell & Reed Financial Inc. boosted its position in The Charles Schwab Corporation by 69.3% in the first quarter. Waddell & Reed Financial Inc. now owns 6,367,351 shares of the financial services provider’s stock valued at $259,851,000 after buying an additional 2,605,949 shares in the last quarter. 79.45% of the stock is owned by hedge funds and other institutional investors.

Shares of The Charles Schwab Corporation (SCHW) traded down 0.40% during midday trading on Friday, reaching $39.51. The company’s stock had a trading volume of 6,571,943 shares. The stock’s 50 day moving average is $42.40 and its 200 day moving average is $40.98. The Charles Schwab Corporation has a 12 month low of $29.86 and a 12 month high of $44.10. The stock has a market capitalization of $52.91 billion, a PE 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 Thomson Reuters’ consensus estimate of $0.39. The firm had revenue of $2.13 billion for 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 15.41%. The firm’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.30 earnings per share. On average, analysts forecast that The Charles Schwab Corporation will post $1.61 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Friday, August 11th will be given a $0.08 dividend. The ex-dividend date is Wednesday, August 9th. This represents a $0.32 annualized dividend and a yield of 0.81%. The Charles Schwab Corporation’s dividend payout ratio (DPR) is 21.48%.

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Several research firms have recently weighed in on SCHW. BidaskClub downgraded The Charles Schwab Corporation from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Citigroup Inc. began coverage on The Charles Schwab Corporation in a report on Thursday, July 13th. They issued a “neutral” rating and a $46.00 target price for the company. Rosenblatt Securities began coverage on The Charles Schwab Corporation in a report on Thursday, July 13th. They issued a “neutral” rating and a $46.00 target price for the company. Deutsche Bank AG downgraded The Charles Schwab Corporation from a “buy” rating to a “hold” rating and boosted their target price for the company from $40.00 to $43.00 in a report on Tuesday, July 11th. Finally, Wells Fargo & Company reissued a “market perform” rating and issued a $44.00 target price (up from $42.00) on shares of The Charles Schwab Corporation in a report on Monday, June 12th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the stock. The Charles Schwab Corporation presently has a consensus rating of “Buy” and an average target price of $44.00.

In other The Charles Schwab Corporation news, insider Marie A. Chandoha sold 7,002 shares of The Charles Schwab Corporation stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $41.96, for a total transaction of $293,803.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Terri R. Kallsen sold 10,536 shares of The Charles Schwab Corporation stock in a transaction that occurred 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 transaction, the executive vice president now owns 5,212 shares in the company, valued at $224,897.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 924,122 shares of company stock worth $39,694,987. 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.

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

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