Louisiana State Employees Retirement System Sells 1,500 Shares of The Charles Schwab Corporation $SCHW

Louisiana State Employees Retirement System cut its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 1.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 90,100 shares of the financial services provider’s stock after selling 1,500 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Charles Schwab were worth $8,221,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Atwood & Palmer Inc. bought a new position in Charles Schwab in the 1st quarter worth approximately $25,000. Westside Investment Management Inc. lifted its holdings in shares of Charles Schwab by 75.0% in the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock worth $27,000 after buying an additional 150 shares in the last quarter. RMG Wealth Management LLC purchased a new position in shares of Charles Schwab in the second quarter worth $27,000. CBIZ Investment Advisory Services LLC lifted its holdings in shares of Charles Schwab by 97.9% in the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock worth $30,000 after buying an additional 191 shares in the last quarter. Finally, Stone House Investment Management LLC purchased a new position in shares of Charles Schwab in the first quarter worth $31,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. JMP Securities increased their price target on Charles Schwab from $106.00 to $110.00 and gave the company a “market outperform” rating in a research note on Monday, July 21st. Weiss Ratings restated a “hold (c+)” rating on shares of Charles Schwab in a research report on Saturday, September 27th. Zacks Research cut shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Deutsche Bank Aktiengesellschaft decreased their price objective on Charles Schwab from $114.00 to $113.00 and set a “buy” rating on the stock in a research report on Tuesday, September 16th. Finally, Morgan Stanley lowered their target price on shares of Charles Schwab to $130.00 and set an “overweight” rating for the company in a report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $100.52.

Charles Schwab Stock Down 0.1%

NYSE:SCHW opened at $93.94 on Wednesday. The Charles Schwab Corporation has a fifty-two week low of $64.26 and a fifty-two week high of $99.59. The stock has a market capitalization of $170.53 billion, a P/E ratio of 25.25, a P/E/G ratio of 0.91 and a beta of 0.97. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55. The company’s 50-day simple moving average is $95.21 and its 200-day simple moving average is $88.86.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.04. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The business had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.64 billion. During the same period in the previous year, the company earned $0.73 earnings per share. The business’s revenue for the quarter was up 24.8% on a year-over-year basis. On average, equities analysts anticipate that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were paid a $0.27 dividend. The ex-dividend date was Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. Charles Schwab’s dividend payout ratio (DPR) is 29.03%.

Charles Schwab declared that its Board of Directors has initiated a share buyback program on Thursday, July 24th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 11.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, General Counsel Peter J. Morgan III sold 50,016 shares of the company’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $97.00, for a total transaction of $4,851,552.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jonathan S. Beatty sold 6,144 shares of the business’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $96.81, for a total transaction of $594,800.64. Following the sale, the insider directly owned 11,923 shares in the company, valued at approximately $1,154,265.63. This represents a 34.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 267,128 shares of company stock valued at $26,232,077 in the last 90 days. 6.30% of the stock is owned by insiders.

Charles Schwab Profile

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.