Ameriprise Financial Inc. Sells 169,427 Shares of The Charles Schwab Corporation (SCHW)

Ameriprise Financial Inc. lessened its holdings in The Charles Schwab Corporation (NYSE:SCHW) by 1.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,760,502 shares of the financial services provider’s stock after selling 169,427 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.95% of The Charles Schwab worth $558,123,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Capital Research Global Investors lifted its position in shares of The Charles Schwab by 86.3% during the 2nd quarter. Capital Research Global Investors now owns 24,237,199 shares of the financial services provider’s stock valued at $1,041,230,000 after acquiring an additional 11,224,199 shares during the period. Janus Henderson Group PLC increased its stake in shares of The Charles Schwab by 1,766.9% during the 2nd quarter. Janus Henderson Group PLC now owns 9,357,736 shares of the financial services provider’s stock worth $402,011,000 after purchasing an additional 8,856,483 shares in the last quarter. FMR LLC increased its stake in shares of The Charles Schwab by 11.3% during the 2nd quarter. FMR LLC now owns 30,766,004 shares of the financial services provider’s stock worth $1,321,708,000 after purchasing an additional 3,128,532 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of The Charles Schwab by 3.2% during the 2nd quarter. Vanguard Group Inc. now owns 81,925,586 shares of the financial services provider’s stock worth $3,519,523,000 after purchasing an additional 2,536,947 shares in the last quarter. Finally, Egerton Capital UK LLP increased its stake in shares of The Charles Schwab by 24.0% during the 2nd quarter. Egerton Capital UK LLP now owns 10,721,871 shares of the financial services provider’s stock worth $460,612,000 after purchasing an additional 2,075,571 shares in the last quarter. 79.84% of the stock is currently owned by institutional investors.

Shares of The Charles Schwab Corporation (NYSE:SCHW) traded up $0.54 on Thursday, hitting $51.08. 5,449,806 shares of the stock traded hands, compared to its average volume of 7,074,000. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.21. The firm has a market cap of $68,074.45, a price-to-earnings ratio of 32.55, a price-to-earnings-growth ratio of 2.16 and a beta of 1.74. The Charles Schwab Corporation has a 52 week low of $37.16 and a 52 week high of $51.89.

The Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.01. The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.18 billion. The Charles Schwab had a net margin of 27.30% and a return on equity of 15.77%. The Charles Schwab’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.35 EPS. research analysts anticipate that The Charles Schwab Corporation will post 1.62 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, November 24th. Shareholders of record on Friday, November 10th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend was Thursday, November 9th. The Charles Schwab’s dividend payout ratio (DPR) is presently 20.51%.

A number of equities analysts have weighed in on the stock. BidaskClub lowered shares of The Charles Schwab from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Barclays began coverage on shares of The Charles Schwab in a report on Friday, September 8th. They set an “overweight” rating and a $48.00 target price on the stock. Jefferies Group reiterated a “buy” rating and issued a $49.00 price objective on shares of The Charles Schwab in a report on Friday, September 15th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $47.00 price objective on shares of The Charles Schwab in a report on Friday, September 15th. Finally, Morgan Stanley boosted their target price on shares of The Charles Schwab from $51.00 to $53.00 and gave the stock an “overweight” rating in a research report on Thursday, October 5th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $47.56.

In related news, EVP Bernard J. Clark sold 75,244 shares of the stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $43.98, for a total transaction of $3,309,231.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Marie A. Chandoha sold 4,500 shares of the stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $44.50, for a total transaction of $200,250.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,778,324 shares of company stock valued at $82,710,964. Insiders own 12.00% of the company’s stock.

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About The Charles Schwab

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 (NYSE:SCHW)

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