The Charles Schwab Corporation (SCHW) Stake Held by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D continued to hold its position in The Charles Schwab Corporation (NYSE:SCHW) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 470,000 shares of the financial services provider’s stock at the end of the second quarter. State of New Jersey Common Pension Fund D’s holdings in The Charles Schwab Corporation were worth $20,191,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SCHW. WealthTrust Arizona LLC increased its position in 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 The Charles Schwab Corporation during the first quarter worth about $119,000. First Bank & Trust increased its position in 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 increased its position in 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 increased its position in 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. Institutional investors own 79.41% of the company’s stock.

Shares of The Charles Schwab Corporation (NYSE:SCHW) opened at 40.65 on Friday. The Charles Schwab Corporation has a 1-year low of $29.83 and a 1-year high of $44.10. The company has a market capitalization of $54.44 billion, a PE ratio of 27.28 and a beta of 1.63. The company’s 50-day moving average price is $42.68 and its 200-day moving average price is $41.04.

The Charles Schwab Corporation (NYSE:SCHW) last announced 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 Charles Schwab Corporation had a return on equity of 15.41% and a net margin of 26.73%. The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the company posted $0.30 earnings per share. The Charles Schwab Corporation’s revenue was up 16.5% compared to the same quarter last year. On average, equities analysts expect that The Charles Schwab Corporation will post $1.61 earnings per share 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 issued a dividend of $0.08 per share. The ex-dividend date is Wednesday, August 9th. This represents a $0.32 annualized dividend and a yield of 0.79%. The Charles Schwab Corporation’s dividend payout ratio (DPR) is currently 21.48%.

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A number of analysts recently weighed in on the stock. Citigroup Inc. assumed coverage on shares of The Charles Schwab Corporation in a research report on Thursday, July 13th. They issued a “neutral” rating and a $46.00 price target on the stock. Instinet reiterated a “neutral” rating and issued a $43.00 price target (down from $46.00) on shares of The Charles Schwab Corporation in a research report on Monday, July 24th. Rosenblatt Securities assumed coverage on shares of The Charles Schwab Corporation in a research report on Thursday, July 13th. They issued a “neutral” rating and a $46.00 price target on the stock. BidaskClub upgraded shares of The Charles Schwab Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Finally, Deutsche Bank AG downgraded shares of The Charles Schwab Corporation from a “buy” rating to a “hold” rating and increased their price target for the company from $40.00 to $43.00 in a research report on Tuesday, July 11th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $44.00.

In related news, Chairman Charles R. Schwab sold 26,000 shares of the company’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $42.80, for a total transaction of $1,112,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Terri R. Kallsen sold 10,536 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $43.15, for a total value of $454,628.40. Following 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. Insiders have sold 924,122 shares of company stock valued at $39,694,987 in the last quarter. 12.00% of the stock is currently owned by corporate insiders.

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

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