BlackRock Inc. Acquires 68,320,480 Shares of The Charles Schwab Corporation (SCHW)

BlackRock Inc. increased its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 1,921.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,876,119 shares of the financial services provider’s stock after buying an additional 68,320,480 shares during the period. BlackRock Inc. owned about 5.38% of The Charles Schwab Corporation worth $2,933,263,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Dodge & Cox bought a new stake in The Charles Schwab Corporation during the fourth quarter worth approximately $3,813,732,000. Findlay Park Partners LLP bought a new stake in The Charles Schwab Corporation during the first quarter worth approximately $218,669,000. FMR LLC raised its stake in The Charles Schwab Corporation by 18.2% in the first quarter. FMR LLC now owns 27,637,472 shares of the financial services provider’s stock worth $1,127,886,000 after buying an additional 4,259,181 shares during the period. Vanguard Group Inc. raised its stake in The Charles Schwab Corporation by 4.0% in the first quarter. Vanguard Group Inc. now owns 79,388,639 shares of the financial services provider’s stock worth $3,239,850,000 after buying an additional 3,063,203 shares during the period. Finally, Macquarie Group Ltd. raised its stake in The Charles Schwab Corporation by 8,699.5% in the fourth quarter. Macquarie Group Ltd. now owns 2,270,273 shares of the financial services provider’s stock worth $89,608,000 after buying an additional 2,244,473 shares during the period. Hedge funds and other institutional investors own 79.41% of the company’s stock.

Shares of The Charles Schwab Corporation (SCHW) traded down 0.37% during trading on Tuesday, reaching $42.72. The company’s stock had a trading volume of 5,346,705 shares. The company has a market capitalization of $57.16 billion, a price-to-earnings ratio of 28.67 and a beta of 1.63. The Charles Schwab Corporation has a one year low of $29.23 and a one year high of $44.10. The firm’s 50-day moving average price is $42.71 and its 200-day moving average price is $41.02.

The Charles Schwab Corporation (NYSE:SCHW) last posted its earnings results on Tuesday, July 18th. The financial services provider reported $0.39 EPS for the quarter, hitting analysts’ consensus estimates of $0.39. The Charles Schwab Corporation had a net margin of 26.73% and a return on equity of 15.69%. 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 previous year, the firm posted $0.30 EPS. The firm’s revenue was up 16.5% on a year-over-year basis. On average, equities analysts anticipate that The Charles Schwab Corporation will post $1.61 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Friday, August 11th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date is Wednesday, August 9th. The Charles Schwab Corporation’s dividend payout ratio (DPR) is presently 21.48%.

TRADEMARK VIOLATION WARNING: This story was first posted by BBNS and is the sole property of of BBNS. If you are reading this story on another site, it was stolen and reposted in violation of United States and international trademark & copyright law. The original version of this story can be viewed at https://baseballnewssource.com/markets/the-charles-schwab-corporation-schw-shares-bought-by-blackrock-inc-updated-updated-updated/1197263.html.

A number of research analysts have recently issued reports on the company. Citigroup Inc. reissued a “buy” rating and issued a $43.00 price objective (down from $45.00) on shares of The Charles Schwab Corporation in a research note on Saturday, April 22nd. Deutsche Bank AG reissued a “buy” rating and issued a $45.00 price objective (up from $44.00) on shares of The Charles Schwab Corporation in a research note on Monday, May 15th. SunTrust Banks, Inc. dropped their price objective on The Charles Schwab Corporation from $45.00 to $44.00 and set a “buy” rating on the stock in a research note on Wednesday, April 19th. Instinet reissued a “conviction-buy” rating and issued a $46.00 price objective (up from $44.00) on shares of The Charles Schwab Corporation in a research note on Friday, April 14th. Finally, Jefferies Group LLC boosted their price objective on The Charles Schwab Corporation from $47.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, April 24th. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $44.00.

In other news, Chairman Charles R. Schwab sold 290,000 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $43.27, for a total transaction of $12,548,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Nancy H. Bechtle sold 23,207 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $43.03, for a total transaction of $998,597.21. Following the sale, the director now directly owns 4,754 shares of the company’s stock, valued at approximately $204,564.62. The disclosure for this sale can be found here. In the last ninety days, insiders sold 917,120 shares of company stock valued at $39,401,183. 12.00% of the stock is currently owned by 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.

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

Receive News & Ratings for The Charles Schwab Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Charles Schwab Corporation and related companies with our FREE daily email newsletter.

 


Latest News

Darren Daulton Former Catcher with Phillies Dies
Darren Daulton Former Catcher with Phillies Dies
Boston’s Chris Sale Will Pitch In Each of Three Series With Yankees
Boston’s Chris Sale Will Pitch In Each of Three Series With Yankees
Greg Holland Out For Rockies Following Kitchen Incident
Greg Holland Out For Rockies Following Kitchen Incident
Jon Lester Joins 2,000 Strikeout Club, Hits First Home Run
Jon Lester Joins 2,000 Strikeout Club, Hits First Home Run
Sonny Gray Acquired By Yankees from Athletics
Sonny Gray Acquired By Yankees from Athletics
Adrian Beltre Reaches 3,000 Careers Hits
Adrian Beltre Reaches 3,000 Careers Hits


Leave a Reply

 
© 2006-2017 BBNS.