Highland Capital Management LLC Has $991,000 Position in The Charles Schwab Corporation (SCHW)

Highland Capital Management LLC cut its position in The Charles Schwab Corporation (NYSE:SCHW) by 0.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,062 shares of the financial services provider’s stock after selling 186 shares during the period. Highland Capital Management LLC’s holdings in The Charles Schwab Corporation were worth $991,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Pinnacle Bank acquired a new position in shares of The Charles Schwab Corporation during the first quarter worth $119,000. First Bank & Trust boosted 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 boosted 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. Quadrant Capital Group LLC boosted 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. Finally, FTB Advisors Inc. boosted its position in The Charles Schwab Corporation by 365.8% in the first quarter. FTB Advisors Inc. now owns 3,852 shares of the financial services provider’s stock worth $151,000 after buying an additional 3,025 shares during the last quarter. Institutional investors and hedge funds own 79.41% of the company’s stock.

The Charles Schwab Corporation (NYSE:SCHW) traded up 0.10% during trading on Friday, hitting $40.65. The stock had a trading volume of 4,896,693 shares. The company’s 50 day moving average is $42.68 and its 200 day moving average is $41.04. The firm has a market cap of $54.44 billion, a PE ratio of 27.28 and a beta of 1.63. The Charles Schwab Corporation has a 52-week low of $29.83 and a 52-week high of $44.10.

The Charles Schwab Corporation (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.39 EPS for the quarter, hitting the Thomson Reuters’ 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 firm had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period last year, the business earned $0.30 EPS. The Charles Schwab Corporation’s revenue for the quarter was up 16.5% compared to the same quarter last year. Equities research analysts forecast that The Charles Schwab Corporation will post $1.61 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Shareholders 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 yield of 0.79%. The Charles Schwab Corporation’s dividend payout ratio is presently 21.48%.

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A number of equities analysts have recently issued reports on SCHW shares. Deutsche Bank AG cut their price objective on The Charles Schwab Corporation from $47.00 to $46.00 and set a “buy” rating for the company in a 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 report on Friday, June 16th. BidaskClub upgraded The Charles Schwab Corporation from a “hold” rating to a “buy” rating in a 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 report on Wednesday, May 31st. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $43.00 price target (down previously from $45.00) on shares of The Charles Schwab Corporation in a research report on Saturday, April 22nd. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $44.00.

In other news, Chairman Charles R. Schwab sold 290,000 shares of The Charles Schwab Corporation stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $43.27, for a total value of $12,548,300.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Marie A. Chandoha sold 9,705 shares of The Charles Schwab Corporation stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $43.17, for a total transaction of $418,964.85. The disclosure for this sale can be found here. Over 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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