LaFleur & Godfrey LLC Sells 3,230 Shares of The Charles Schwab Corporation $SCHW

Key Points

• LaFleur & Godfrey LLC reduced its stake in Charles Schwab by 4.2%, selling 3,230 shares, which left them with 72,780 shares valued at approximately $6.64 million.
• Despite the sell-off by some investors, major institutions like Vanguard Group and Price T Rowe Associates increased their holdings in Charles Schwab, highlighting strong institutional interest in the stock.
• Charles Schwab announced a $20 billion share buyback plan and recently paid a quarterly dividend of $0.27 per share, signaling confidence in its financial health.

LaFleur & Godfrey LLC cut its stake in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 4.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 72,780 shares of the financial services provider's stock after selling 3,230 shares during the period. LaFleur & Godfrey LLC's holdings in Charles Schwab were worth $6,640,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Charles Schwab by 15.4% in the first quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider's stock valued at $11,616,380,000 after acquiring an additional 19,817,022 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Charles Schwab by 12.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider's stock worth $6,422,795,000 after acquiring an additional 8,954,248 shares in the last quarter. Northern Trust Corp raised its holdings in Charles Schwab by 10.8% during the first quarter. Northern Trust Corp now owns 17,440,301 shares of the financial services provider's stock worth $1,365,227,000 after acquiring an additional 1,700,384 shares in the last quarter. Alliancebernstein L.P. raised its holdings in Charles Schwab by 16.0% during the first quarter. Alliancebernstein L.P. now owns 17,115,759 shares of the financial services provider's stock worth $1,339,822,000 after acquiring an additional 2,355,309 shares in the last quarter. Finally, Invesco Ltd. raised its stake in Charles Schwab by 5.0% in the first quarter. Invesco Ltd. now owns 15,586,450 shares of the financial services provider's stock valued at $1,220,107,000 after buying an additional 743,906 shares during the period. 84.38% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Charles Schwab

In other news, General Counsel Peter J. Morgan III sold 50,016 shares of the 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nigel J. Murtagh sold 24,096 shares of the stock in a transaction dated 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 completion of the transaction, the insider directly owned 58,999 shares of the company's stock, valued at approximately $5,776,592.09. The trade was a 29.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 267,213 shares of company stock valued at $26,232,180. 6.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

SCHW has been the topic of a number of recent research reports. Bank of America increased their target price on Charles Schwab from $83.00 to $84.00 and gave the stock an "underperform" rating in a research note on Monday, July 21st. Zacks Research downgraded Charles Schwab from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 17th. Wells Fargo & Company set a $102.00 target price on Charles Schwab and gave the company an "overweight" rating in a report on Friday, July 18th. Piper Sandler increased their price target on Charles Schwab from $80.00 to $92.00 and gave the company a "neutral" rating in a research note on Tuesday, July 15th. Finally, Truist Financial increased their price target on Charles Schwab from $107.00 to $112.00 and gave the company a "buy" rating in a research note on Friday, August 15th. Sixteen investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, Charles Schwab presently has a consensus rating of "Moderate Buy" and an average price target of $100.00.

Charles Schwab Trading Up 1.1%

NYSE:SCHW opened at $94.27 on Monday. The firm's 50 day moving average is $95.42 and its 200 day moving average is $87.41. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47. The Charles Schwab Corporation has a 12 month low of $62.41 and a 12 month high of $99.59. The stock has a market capitalization of $171.12 billion, a PE ratio of 25.34, a price-to-earnings-growth ratio of 0.93 and a beta of 0.96.

Charles Schwab (NYSE:SCHW - Get Free Report) last issued its earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.10 by $0.04. The business had revenue of $5.85 billion for the quarter, compared to analysts' expectations of $5.64 billion. Charles Schwab had a net margin of 33.68% and a return on equity of 19.30%. The business's revenue for the quarter was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.73 EPS. Sell-side analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab declared that its Board of Directors has authorized a share buyback plan on Thursday, July 24th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the financial services provider to buy up to 11.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were given a $0.27 dividend. The ex-dividend date was Friday, August 8th. This represents a $1.08 annualized dividend and a yield of 1.1%. Charles Schwab's payout ratio is 29.03%.

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.

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