Lafayette Investments Inc. Sells 651 Shares of The Charles Schwab Corporation $SCHW

Lafayette Investments Inc. cut its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 0.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 96,849 shares of the financial services provider’s stock after selling 651 shares during the period. Charles Schwab accounts for 1.8% of Lafayette Investments Inc.’s holdings, making the stock its 12th biggest holding. Lafayette Investments Inc.’s holdings in Charles Schwab were worth $8,836,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Princeton Global Asset Management LLC purchased a new position in shares of Charles Schwab in the 2nd quarter valued at $25,000. Westside Investment Management Inc. boosted its position in 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 purchasing an additional 150 shares in the last quarter. RMG Wealth Management LLC purchased a new position in Charles Schwab in the second quarter valued at about $27,000. CBIZ Investment Advisory Services LLC raised its holdings in 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 purchasing an additional 191 shares in the last quarter. Finally, Stone House Investment Management LLC purchased a new stake in shares of Charles Schwab during the first quarter valued at about $31,000. Institutional investors own 84.38% of the company’s stock.

Insider Transactions at Charles Schwab

In related news, 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 completion of the sale, the insider directly owned 11,923 shares in the company, valued at approximately $1,154,265.63. The trade was a 34.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nigel J. Murtagh sold 24,096 shares of the company’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $97.91, for a total transaction of $2,359,239.36. Following the sale, the insider directly owned 58,999 shares of the company’s stock, valued at $5,776,592.09. The trade was a 29.00% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 267,128 shares of company stock valued at $26,232,077. Insiders own 6.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SCHW shares. Raymond James Financial reiterated an “outperform” rating and set a $99.00 price objective on shares of Charles Schwab in a research note on Friday, July 18th. Truist Financial upped their price target on Charles Schwab from $112.00 to $113.00 and gave the stock a “buy” rating in a research report on Friday. JPMorgan Chase & Co. increased their price objective on Charles Schwab from $119.00 to $121.00 and gave the company an “overweight” rating in a report on Monday. Cowen restated a “buy” rating on shares of Charles Schwab in a research note on Friday. Finally, TD Cowen upped their target price on Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a research report on Friday. One equities research 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 stock. Based on data from MarketBeat.com, Charles Schwab currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

Charles Schwab Stock Up 0.8%

SCHW opened at $94.93 on Tuesday. The stock has a market capitalization of $172.32 billion, a price-to-earnings ratio of 22.23, a PEG ratio of 0.88 and a beta of 0.97. The Charles Schwab Corporation has a fifty-two week low of $65.88 and a fifty-two week high of $99.59. 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 has a fifty day moving average of $94.62 and a two-hundred day moving average of $89.94.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, beating the consensus estimate of $1.25 by $0.06. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The company had revenue of $6.14 billion for the quarter, compared to analyst estimates of $5.93 billion. During the same period last year, the company earned $0.71 earnings per share. Charles Schwab’s quarterly revenue was up 26.6% compared to the same quarter last year. On average, research analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab announced that its Board of Directors has initiated a share buyback plan on Thursday, July 24th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 11.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were paid a $0.27 dividend. The ex-dividend date of this dividend 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 currently 25.29%.

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.