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

Louisiana State Employees Retirement System lowered its stake in The Charles Schwab Corporation (NYSE:SCHW) by 1.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 90,100 shares of the financial services provider’s stock after selling 1,500 shares during the period. Louisiana State Employees Retirement System’s holdings in Charles Schwab were worth $8,221,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Atwood & Palmer Inc. bought a new stake in Charles Schwab during the 1st quarter valued at about $25,000. Westside Investment Management Inc. grew its holdings in shares of Charles Schwab by 75.0% during the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider’s stock valued at $27,000 after buying an additional 150 shares during the last quarter. RMG Wealth Management LLC purchased a new stake in shares of Charles Schwab during the second quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC grew its holdings in shares of Charles Schwab by 97.9% during the first quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider’s stock valued at $30,000 after buying an additional 191 shares during the last quarter. Finally, Stone House Investment Management LLC purchased a new stake in shares of Charles Schwab during the first quarter valued at approximately $31,000. 84.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SCHW has been the topic of several analyst reports. William Blair cut Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 3rd. Raymond James Financial restated an “outperform” rating and issued a $99.00 price target on shares of Charles Schwab in a research note on Friday, July 18th. Weiss Ratings restated a “hold (c+)” rating on shares of Charles Schwab in a research note on Saturday, September 27th. Bank of America lifted their price objective on Charles Schwab from $84.00 to $86.00 and gave the stock an “underperform” rating in a report on Thursday, October 2nd. Finally, Zacks Research downgraded shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $100.52.

Insider Activity at Charles Schwab

In related news, General Counsel Peter J. Morgan III sold 50,016 shares of Charles Schwab stock in a transaction on Wednesday, August 27th. The stock was 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 available through the SEC website. Also, insider Paul V. Woolway sold 3,290 shares of Charles Schwab stock in a transaction on Friday, August 1st. The shares were sold at an average price of $96.06, for a total value of $316,037.40. Following the transaction, the insider owned 41,188 shares in the company, valued at $3,956,519.28. This trade represents a 7.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 267,128 shares of company stock valued at $26,232,077 in the last ninety days. Corporate insiders own 6.30% of the company’s stock.

Charles Schwab Price Performance

Shares of NYSE:SCHW opened at $93.94 on Wednesday. The firm’s 50 day moving average price is $95.21 and its 200-day moving average price is $88.86. The Charles Schwab Corporation has a twelve month low of $64.26 and a twelve month high of $99.59. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $170.53 billion, a PE ratio of 25.25, a price-to-earnings-growth ratio of 0.91 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $5.64 billion. During the same period in the prior year, the company earned $0.73 earnings per share. The firm’s revenue was up 24.8% on a year-over-year basis. Equities research analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. Charles Schwab’s payout ratio is presently 29.03%.

Charles Schwab announced that its board has initiated a stock 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 purchase up to 11.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

Charles Schwab Company 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.