Rainey & Randall Wealth Advisors Inc. Acquires New Holdings in The Charles Schwab Corporation $SCHW

Rainey & Randall Wealth Advisors Inc. acquired a new stake in shares of The Charles Schwab Corporation (NYSE:SCHW) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 2,419 shares of the financial services provider’s stock, valued at approximately $221,000.

A number of other institutional investors have also recently bought and sold shares of the company. Cornell Pochily Investment Advisors Inc. acquired a new position in Charles Schwab during the second quarter valued at approximately $209,000. Patriot Financial Group Insurance Agency LLC grew its holdings in Charles Schwab by 14.1% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 54,979 shares of the financial services provider’s stock valued at $5,016,000 after purchasing an additional 6,776 shares during the period. Tower View Wealth Management LLC acquired a new position in Charles Schwab during the second quarter valued at approximately $212,000. TFG Advisers LLC boosted its holdings in shares of Charles Schwab by 7.6% in the second quarter. TFG Advisers LLC now owns 4,569 shares of the financial services provider’s stock valued at $417,000 after buying an additional 324 shares during the period. Finally, ASR Vermogensbeheer N.V. increased its position in shares of Charles Schwab by 10.3% during the second quarter. ASR Vermogensbeheer N.V. now owns 166,008 shares of the financial services provider’s stock worth $15,146,000 after acquiring an additional 15,528 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Stock Performance

Shares of SCHW opened at $92.75 on Friday. The Charles Schwab Corporation has a 12 month low of $62.41 and a 12 month high of $99.59. The firm has a fifty day simple moving average of $95.42 and a 200 day simple moving average of $88.46. The stock has a market capitalization of $168.36 billion, a price-to-earnings ratio of 24.93, a PEG ratio of 0.91 and a beta of 0.97. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47.

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

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

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab’s dividend payout ratio is 29.03%.

Insider Activity

In other Charles Schwab news, insider Jonathan S. Beatty sold 6,144 shares of the company’s stock in a transaction on Thursday, August 28th. The shares were 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 of the company’s stock, valued at approximately $1,154,265.63. This represents a 34.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Walter W. Bettinger sold 173,876 shares of the company’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $98.84, for a total transaction of $17,185,903.84. Following the sale, the chairman directly owned 590,734 shares in the company, valued at $58,388,148.56. This trade represents a 22.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 267,128 shares of company stock valued at $26,232,077. 6.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SCHW. Redburn Atlantic raised shares of Charles Schwab from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $65.00 to $82.00 in a research report on Monday, June 9th. Zacks Research downgraded shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. William Blair downgraded shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 3rd. Barclays increased their price objective on shares of Charles Schwab from $106.00 to $113.00 and gave the stock an “overweight” rating in a research report on Friday, July 18th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Charles Schwab from $102.00 to $108.00 and gave the stock an “outperform” rating in a research report on Monday, July 21st. Sixteen investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $100.05.

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.