Gemmer Asset Management Lowers stake in Charles Schwab Corp (SCHW)

Charles Schwab Corp (SCHW) : Gemmer Asset Management reduced its stake in Charles Schwab Corp by 19.27% during the most recent quarter end. The investment management company now holds a total of 34,976 shares of Charles Schwab Corp which is valued at $1,118,183 after selling 8,351 shares in Charles Schwab Corp , the firm said in a disclosure report filed with the SEC on Oct 17, 2016.Charles Schwab Corp makes up approximately 0.58% of Gemmer Asset Management’s portfolio.

Other Hedge Funds, Including , Putnam Fl Investment Management Co boosted its stake in SCHW in the latest quarter, The investment management firm added 7,432 additional shares and now holds a total of 516,277 shares of Charles Schwab Corp which is valued at $16,505,376. Charles Schwab Corp makes up approx 1.91% of Putnam Fl Investment Management Co’s portfolio.National Pension Service boosted its stake in SCHW in the latest quarter, The investment management firm added 66,249 additional shares and now holds a total of 835,358 shares of Charles Schwab Corp which is valued at $26,706,395. Charles Schwab Corp makes up approx 0.22% of National Pension Service’s portfolio.Perkins Coie Trust Co boosted its stake in SCHW in the latest quarter, The investment management firm added 1,527 additional shares and now holds a total of 56,223 shares of Charles Schwab Corp which is valued at $1,824,436. Charles Schwab Corp makes up approx 1.16% of Perkins Coie Trust Co’s portfolio.Exxonmobil Investment Management Inc Tx reduced its stake in SCHW by selling 3,922 shares or 1.26% in the most recent quarter. The Hedge Fund company now holds 307,407 shares of SCHW which is valued at $9,959,987. Charles Schwab Corp makes up approx 0.21% of Exxonmobil Investment Management Inc Tx’s portfolio.

Charles Schwab Corp opened for trading at $31.94 and hit $32.21 on the upside on Friday, eventually ending the session at $31.97, with a gain of 1.72% or 0.54 points. The heightened volatility saw the trading volume jump to 76,84,029 shares. Company has a market cap of $42,296 M.

On the company’s financial health, Charles Schwab Corp reported $0.34 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Oct 17, 2016. Analyst had a consensus of $0.33. The company had revenue of $1914.00 million for the quarter, compared to analysts expectations of $1887.02 million. The company’s revenue was up 19.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS.

Many Wall Street Analysts have commented on Charles Schwab Corp. SunTrust Upgraded Charles Schwab Corp on Oct 18, 2016 to ” Buy”, Price Target of the shares are set at $33.Charles Schwab Corp was Upgraded by BofA/Merrill to ” Buy” on Oct 13, 2016. Morgan Stanley Initiated Charles Schwab Corp on Sep 26, 2016 to “Overweight”, Price Target of the shares are set at $37.

The Charles Schwab Corporation (CSC) is a savings and loan holding company. Through its subsidiaries the Company 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. The Investor Services segment provides retail brokerage and banking services to individual investors retirement plan services and corporate brokerage services. The Advisor Services segment provides custodial trading and support services to independent investment advisors (IAs) and retirement business services to independent retirement plan advisors and record keepers. The Company offers a range of products to address individuals’ varying investment and financial needs. Its product offerings include brokerage mutual funds exchange-traded funds (ETFs) advice solutions banking and trust.

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