Piedmont Investment Advisors LLC Acquires 5,922 Shares of The Charles Schwab Corporation (SCHW)

Piedmont Investment Advisors LLC increased its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 2.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 253,358 shares of the financial services provider’s stock after buying an additional 5,922 shares during the period. Piedmont Investment Advisors LLC’s holdings in The Charles Schwab Corporation were worth $10,884,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of The Charles Schwab Corporation by 3.2% during the second quarter. Vanguard Group Inc. now owns 81,925,586 shares of the financial services provider’s stock worth $3,519,523,000 after buying an additional 2,536,947 shares during the last quarter. BlackRock Inc. raised its stake in shares of The Charles Schwab Corporation by 2.5% during the second quarter. BlackRock Inc. now owns 73,666,134 shares of the financial services provider’s stock worth $3,164,699,000 after buying an additional 1,790,015 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of The Charles Schwab Corporation by 1.3% during the second quarter. JPMorgan Chase & Co. now owns 39,576,199 shares of the financial services provider’s stock worth $1,700,193,000 after buying an additional 491,451 shares during the last quarter. FMR LLC raised its stake in shares of The Charles Schwab Corporation by 11.3% during the second quarter. FMR LLC now owns 30,766,004 shares of the financial services provider’s stock worth $1,321,708,000 after buying an additional 3,128,532 shares during the last quarter. Finally, Capital Research Global Investors raised its stake in shares of The Charles Schwab Corporation by 86.3% during the second quarter. Capital Research Global Investors now owns 24,237,199 shares of the financial services provider’s stock worth $1,041,230,000 after buying an additional 11,224,199 shares during the last quarter. 79.53% of the stock is owned by institutional investors and hedge funds.

The Charles Schwab Corporation (SCHW) traded up 0.22% on Thursday, hitting $45.41. 2,435,261 shares of the stock traded hands. The company has a market cap of $60.81 billion, a price-to-earnings ratio of 30.48 and a beta of 1.68. The Charles Schwab Corporation has a 1-year low of $30.66 and a 1-year high of $46.21. The stock has a 50-day moving average price of $41.57 and a 200 day moving average price of $41.00.

The Charles Schwab Corporation (NYSE:SCHW) last released its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.39 earnings per share for the quarter, meeting the consensus estimate of $0.39. The company 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 15.41%. The Charles Schwab Corporation’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.30 EPS. On average, analysts anticipate that The Charles Schwab Corporation will post $1.61 EPS for the current fiscal year.

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In other news, Chairman Charles R. Schwab sold 350,000 shares of The Charles Schwab Corporation stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $43.10, for a total value of $15,085,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Terri R. Kallsen sold 1,000 shares of The Charles Schwab Corporation stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $38.99, for a total transaction of $38,990.00. Following the completion of the sale, the executive vice president now owns 5,212 shares of the company’s stock, valued at approximately $203,215.88. The disclosure for this sale can be found here. Insiders sold a total of 1,035,705 shares of company stock valued at $44,665,539 in the last quarter. 12.00% of the stock is currently owned by company insiders.

SCHW has been the subject of a number of recent research reports. Deutsche Bank AG dropped their price target on shares of The Charles Schwab Corporation from $47.00 to $46.00 and set a “buy” rating for the company in a research note on Tuesday, July 4th. BidaskClub downgraded shares of The Charles Schwab Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, September 8th. Morgan Stanley reissued an “overweight” rating and set a $48.00 price target (up from $45.00) on shares of The Charles Schwab Corporation in a research note on Monday, July 10th. Barclays PLC boosted their price target on shares of The Charles Schwab Corporation from $48.00 to $51.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Citigroup Inc. began coverage on shares of The Charles Schwab Corporation in a research note on Thursday, July 13th. They set a “neutral” rating and a $46.00 price target for the company. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $46.80.

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.

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

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