285 Shares in The Charles Schwab Corporation $SCHW Purchased by RMG Wealth Management LLC

RMG Wealth Management LLC bought a new position in The Charles Schwab Corporation (NYSE:SCHW) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 285 shares of the financial services provider’s stock, valued at approximately $27,000.

A number of other hedge funds also recently made changes to their positions in the company. Pine Haven Investment Counsel Inc lifted its position in shares of Charles Schwab by 0.3% in the second quarter. Pine Haven Investment Counsel Inc now owns 41,793 shares of the financial services provider’s stock worth $3,813,000 after buying an additional 110 shares in the last quarter. Traveka Wealth LLC lifted its position in shares of Charles Schwab by 4.3% in the second quarter. Traveka Wealth LLC now owns 2,841 shares of the financial services provider’s stock worth $259,000 after buying an additional 117 shares in the last quarter. Bank of Stockton lifted its position in shares of Charles Schwab by 1.2% in the second quarter. Bank of Stockton now owns 10,593 shares of the financial services provider’s stock worth $967,000 after buying an additional 123 shares in the last quarter. Sheaff Brock Investment Advisors LLC lifted its position in shares of Charles Schwab by 1.6% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 7,986 shares of the financial services provider’s stock worth $625,000 after buying an additional 129 shares in the last quarter. Finally, HM Payson & Co. lifted its position in shares of Charles Schwab by 0.7% in the first quarter. HM Payson & Co. now owns 19,271 shares of the financial services provider’s stock worth $1,509,000 after buying an additional 130 shares in the last quarter. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

Charles Schwab Trading Down 0.1%

Shares of NYSE SCHW opened at $93.94 on Wednesday. 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 business’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 fifty-two week low of $64.26 and a fifty-two week high of $99.59. The company has a market cap of $170.53 billion, a price-to-earnings ratio of 25.25, a PEG ratio of 0.91 and a beta of 0.97.

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

Charles Schwab Dividend Announcement

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

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

Analyst Ratings Changes

A number of brokerages have issued reports on SCHW. Citigroup upped their price objective on Charles Schwab from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, July 21st. 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. Zacks Research downgraded Charles Schwab from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Wells Fargo & Company set a $102.00 price objective on Charles Schwab and gave the company an “overweight” rating in a research report on Friday, July 18th. Finally, Raymond James Financial restated an “outperform” rating and set a $99.00 price objective on shares of Charles Schwab in a research report on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Charles Schwab presently has an average rating of “Moderate Buy” and an average target price of $100.52.

Insider Activity at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 6,144 shares of the firm’s stock in a transaction 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 transaction, the insider directly owned 11,923 shares in the company, valued at $1,154,265.63. This trade represents a 34.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Nigel J. Murtagh sold 24,096 shares of the firm’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $97.91, for a total value of $2,359,239.36. Following the transaction, the insider owned 58,999 shares in the company, valued at $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. Insiders sold a total of 267,128 shares of company stock worth $26,232,077 over the last three months. Corporate insiders own 6.30% of the company’s stock.

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.