Jones Financial Companies Lllp Purchases 9,496 Shares of The Charles Schwab Corporation $SCHW

Key Points

• Jones Financial Companies Lllp has increased its stake in The Charles Schwab Corporation by 48.0%, owning a total of 29,263 shares valued at $2,291,000 after acquiring 9,496 shares in the first quarter.
• Insider transactions include Paul V. Woolway selling 3,205 shares for $305,116, and Chairman Walter W. Bettinger selling 173,876 shares for over $17 million, indicating a significant decrease in their ownership.
• Charles Schwab announced a share buyback program worth $20 billion and has a strong analyst consensus rating of "Moderate Buy" with a target price around $99.60.

Jones Financial Companies Lllp increased its position in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 48.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,263 shares of the financial services provider's stock after acquiring an additional 9,496 shares during the quarter. Jones Financial Companies Lllp's holdings in Charles Schwab were worth $2,291,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Atwood & Palmer Inc. bought a new position in shares of Charles Schwab in the first quarter worth about $25,000. Westside Investment Management Inc. grew its holdings in Charles Schwab by 75.0% in the 1st 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. Stone House Investment Management LLC bought a new position in Charles Schwab in the 1st quarter worth approximately $31,000. Activest Wealth Management lifted its holdings in shares of Charles Schwab by 6,650.0% during the first quarter. Activest Wealth Management now owns 405 shares of the financial services provider's stock worth $32,000 after buying an additional 399 shares during the last quarter. Finally, WFA Asset Management Corp bought a new stake in shares of Charles Schwab in the first quarter valued at approximately $33,000. 84.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Paul V. Woolway sold 3,205 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $95.20, for a total value of $305,116.00. Following the sale, the insider owned 37,983 shares of the company's stock, valued at approximately $3,615,981.60. This represents a 7.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Walter W. Bettinger sold 173,876 shares of the business's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $98.84, for a total transaction of $17,185,903.84. Following the completion of the transaction, the chairman owned 590,734 shares in the company, valued at approximately $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. Insiders have sold 298,214 shares of company stock worth $29,022,580 in the last three months. Company insiders own 6.30% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Wells Fargo & Company set a $102.00 target price on shares of Charles Schwab and gave the company an "overweight" rating in a research note on Friday, July 18th. Morgan Stanley boosted their price objective on shares of Charles Schwab from $117.00 to $131.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Citigroup increased their target price on shares of Charles Schwab from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Bank of America lifted their target price on Charles Schwab from $83.00 to $84.00 and gave the stock an "underperform" rating in a research report on Monday, July 21st. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $99.00 price target on shares of Charles Schwab in a report on Friday, July 18th. Sixteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Charles Schwab currently has a consensus rating of "Moderate Buy" and a consensus price target of $99.60.

Charles Schwab Stock Up 1.8%

Shares of SCHW opened at $93.90 on Friday. 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 company has a 50-day moving average price of $95.36 and a two-hundred day moving average price of $86.66. The stock has a market cap of $170.45 billion, a price-to-earnings ratio of 25.24, a P/E/G ratio of 0.91 and a beta of 0.96. The Charles Schwab Corporation has a 12 month low of $61.16 and a 12 month high of $99.59.

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, topping analysts' consensus estimates of $1.10 by $0.04. The business had revenue of $5.85 billion during the quarter, compared to analysts' expectations of $5.64 billion. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.Charles Schwab's quarterly revenue was up 24.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.73 EPS. Equities analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab announced that its board has approved a share buyback program on Thursday, July 24th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 11.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Charles Schwab Dividend Announcement

The business 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. 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 1.2%. Charles Schwab's dividend payout ratio (DPR) is presently 29.03%.

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.

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