The Charles Schwab Corporation (SCHW) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System reduced its stake in shares of The Charles Schwab Corporation (NYSE:SCHW) by 5.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,203,945 shares of the financial services provider’s stock after selling 131,871 shares during the quarter. California State Teachers Retirement System owned 0.16% of The Charles Schwab Corporation worth $94,681,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in The Charles Schwab Corporation by 3.2% during the 2nd quarter. Vanguard Group Inc. now owns 81,925,586 shares of the financial services provider’s stock valued at $3,519,523,000 after purchasing an additional 2,536,947 shares during the last quarter. BlackRock Inc. raised its stake in The Charles Schwab Corporation by 2.5% during the 2nd quarter. BlackRock Inc. now owns 73,666,134 shares of the financial services provider’s stock valued at $3,164,699,000 after purchasing an additional 1,790,015 shares during the last quarter. JPMorgan Chase & Co. raised its stake in The Charles Schwab Corporation by 1.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 39,576,199 shares of the financial services provider’s stock valued at $1,700,193,000 after purchasing an additional 491,451 shares during the last quarter. FMR LLC raised its stake in The Charles Schwab Corporation by 11.3% during the 2nd quarter. FMR LLC now owns 30,766,004 shares of the financial services provider’s stock valued at $1,321,708,000 after purchasing an additional 3,128,532 shares during the last quarter. Finally, Capital Research Global Investors raised its stake in The Charles Schwab Corporation 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 purchasing an additional 11,224,199 shares during the last quarter. Hedge funds and other institutional investors own 79.53% of the company’s stock.

In related news, EVP Terri R. Kallsen sold 4,267 shares of the business’s stock in a transaction dated Friday, October 6th. The stock was sold at an average price of $46.02, for a total value of $196,367.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Marie A. Chandoha sold 19,074 shares of the business’s stock in a transaction dated Friday, October 6th. The shares were sold at an average price of $45.94, for a total value of $876,259.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,035,705 shares of company stock valued at $44,665,539. 12.00% of the stock is owned by insiders.

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SCHW has been the subject of a number of recent research reports. BidaskClub upgraded shares of The Charles Schwab Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Morgan Stanley increased their price objective on shares of The Charles Schwab Corporation from $51.00 to $53.00 and gave the company an “overweight” rating in a research note on Thursday, October 5th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $47.00 price objective on shares of The Charles Schwab Corporation in a research note on Friday, September 15th. Jefferies Group LLC restated a “buy” rating and issued a $49.00 price objective on shares of The Charles Schwab Corporation in a research note on Friday, September 15th. Finally, Barclays PLC initiated coverage on shares of The Charles Schwab Corporation in a research note on Friday, September 8th. They issued an “overweight” rating and a $48.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $45.69.

The Charles Schwab Corporation (NYSE:SCHW) traded down 1.01% during midday trading on Tuesday, hitting $44.95. 3,216,522 shares of the stock traded hands. The firm’s 50 day moving average is $41.24 and its 200-day moving average is $40.93. The stock has a market capitalization of $60.19 billion, a PE ratio of 30.17 and a beta of 1.68. The Charles Schwab Corporation has a 12-month low of $30.66 and a 12-month high of $46.21.

The Charles Schwab Corporation (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.39 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.39. The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. The Charles Schwab Corporation had a return on equity of 15.41% and a net margin of 26.73%. 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 firm earned $0.30 earnings per share. On average, analysts anticipate that The Charles Schwab Corporation will post $1.62 EPS for the current fiscal year.

The Charles Schwab Corporation 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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