Provident Trust Co buys $44,039,136 stake in Charles Schwab Corp (SCHW)

Charles Schwab Corp (SCHW) : Provident Trust Co scooped up 16,510 additional shares in Charles Schwab Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 1, 2016. The investment management firm now holds a total of 1,551,220 shares of Charles Schwab Corp which is valued at $44,039,136.Charles Schwab Corp makes up approximately 2.36% of Provident Trust Co’s portfolio.

Other Hedge Funds, Including , Nisa Investment Advisors boosted its stake in SCHW in the latest quarter, The investment management firm added 5,775 additional shares and now holds a total of 382,961 shares of Charles Schwab Corp which is valued at $10,378,243. Charles Schwab Corp makes up approx 0.14% of Nisa Investment Advisors’s portfolio. Ruane Cunniff Goldfarb Inc added SCHW to its portfolio by purchasing 9,155,367 company shares during the most recent quarter which is valued at $248,110,446. Charles Schwab Corp makes up approx 2.29% of Ruane Cunniff Goldfarb Inc’s portfolio.

Charles Schwab Corp opened for trading at $28.32 and hit $28.51 on the upside on Thursday, eventually ending the session at $28.49, with a gain of 0.35% or 0.1 points. The heightened volatility saw the trading volume jump to 47,72,815 shares. Company has a market cap of $37,655 M.

On the company’s financial health, Charles Schwab Corp reported $0.30 EPS for the quarter, based on the information available during the earnings call on Jul 18, 2016. Analyst had a consensus estimate of $0.30. The company had revenue of $1828.00 million for the quarter, compared to analysts expectations of $1796.25 million. The company’s revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS.

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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