Millennium Management LLC Has $3.72 Million Position in Charles Schwab Co. (SCHW)

Millennium Management LLC boosted its stake in shares of Charles Schwab Co. (NYSE:SCHW) by 34.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,778 shares of the financial services provider’s stock after buying an additional 18,806 shares during the period. Millennium Management LLC’s holdings in Charles Schwab were worth $3,719,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Soapstone Management L.P. increased its holdings in shares of Charles Schwab by 113.1% in the 2nd quarter. Soapstone Management L.P. now owns 200,000 shares of the financial services provider’s stock worth $10,220,000 after purchasing an additional 106,164 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its holdings in shares of Charles Schwab by 6.4% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 240,704 shares of the financial services provider’s stock worth $12,300,000 after purchasing an additional 14,515 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its holdings in shares of Charles Schwab by 3.0% in the 2nd quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 826,900 shares of the financial services provider’s stock worth $42,255,000 after purchasing an additional 24,200 shares in the last quarter. Colony Group LLC increased its holdings in shares of Charles Schwab by 21.8% in the 2nd quarter. Colony Group LLC now owns 7,309 shares of the financial services provider’s stock worth $373,000 after purchasing an additional 1,306 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Charles Schwab by 3,776,400.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 37,765 shares of the financial services provider’s stock worth $1,930,000 after purchasing an additional 37,764 shares in the last quarter. 80.36% of the stock is owned by institutional investors.

SCHW has been the subject of a number of research analyst reports. Morgan Stanley lifted their target price on Charles Schwab from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, October 9th. JPMorgan Chase & Co. set a $59.00 target price on Charles Schwab and gave the stock a “buy” rating in a report on Monday, July 16th. Citigroup reduced their target price on Charles Schwab from $49.00 to $48.00 and set a “sell” rating for the company in a report on Monday, July 23rd. Zacks Investment Research lowered Charles Schwab from a “buy” rating to a “hold” rating in a report on Wednesday, July 11th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $66.00 target price on shares of Charles Schwab in a report on Monday, July 16th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $58.77.

SCHW stock opened at $46.83 on Friday. The firm has a market capitalization of $64.91 billion, a PE ratio of 28.55, a PEG ratio of 1.19 and a beta of 1.55. Charles Schwab Co. has a 1 year low of $43.33 and a 1 year high of $60.22. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.33.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Monday, October 15th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.65. The firm had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.58 billion. Charles Schwab had a return on equity of 19.46% and a net margin of 32.65%. The company’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same period last year, the business posted $0.42 EPS. On average, equities research analysts expect that Charles Schwab Co. will post 2.45 earnings per share for the current fiscal year.

In other news, insider Marie A. Chandoha sold 8,424 shares of the firm’s stock in a transaction on Tuesday, October 16th. The stock was sold at an average price of $48.01, for a total value of $404,436.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Jonathan M. Craig sold 2,629 shares of the firm’s stock in a transaction on Monday, October 15th. The stock was sold at an average price of $48.84, for a total value of $128,400.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 217,271 shares of company stock worth $11,385,530. Company insiders own 11.50% of the company’s stock.

Charles Schwab Profile

The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.

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

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