Kingstone Capital Partners Texas LLC Acquires Shares of 1,075,619 The Charles Schwab Corporation $SCHW

Key Points

• Kingstone Capital Partners Texas LLC acquired 1,075,619 shares of The Charles Schwab Corporation, valued at approximately $98.14 million, during the second quarter.
• Insider trading revealed that Chairman Walter W. Bettinger sold 173,876 shares, resulting in a 22.74% decrease in his position.
• The Charles Schwab Corporation announced a $20 billion stock buyback program, reflecting management's belief that the stock is undervalued.

Kingstone Capital Partners Texas LLC acquired a new stake in The Charles Schwab Corporation (NYSE:SCHW - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,075,619 shares of the financial services provider's stock, valued at approximately $98,139,000. Kingstone Capital Partners Texas LLC owned 0.06% of Charles Schwab as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in SCHW. Brighton Jones LLC increased its stake in shares of Charles Schwab by 380.5% during the fourth quarter. Brighton Jones LLC now owns 24,240 shares of the financial services provider's stock worth $1,794,000 after purchasing an additional 19,195 shares during the period. State of Wyoming increased its stake in shares of Charles Schwab by 77.3% during the fourth quarter. State of Wyoming now owns 3,044 shares of the financial services provider's stock worth $225,000 after purchasing an additional 1,327 shares during the period. Twinbeech Capital LP bought a new position in shares of Charles Schwab during the fourth quarter worth approximately $218,000. Woodline Partners LP bought a new position in shares of Charles Schwab during the fourth quarter worth approximately $6,644,000. Finally, Focus Partners Advisor Solutions LLC bought a new position in shares of Charles Schwab during the fourth quarter worth approximately $350,000. Institutional investors own 84.38% of the company's stock.

Insider Buying and Selling at Charles Schwab

In related news, Chairman Walter W. Bettinger sold 173,876 shares of the firm'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 completion of the transaction, the chairman directly owned 590,734 shares of the company's stock, valued at $58,388,148.56. This trade represents a 22.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the firm's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total value of $4,851,552.00. The disclosure for this sale can be found here. Insiders sold 267,213 shares of company stock worth $26,232,180 over the last 90 days. Company insiders own 6.30% of the company's stock.

Charles Schwab Trading Up 1.1%

NYSE SCHW opened at $94.27 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 Charles Schwab Corporation has a twelve month low of $62.41 and a twelve month high of $99.59. The company has a market cap of $171.12 billion, a price-to-earnings ratio of 25.34, a price-to-earnings-growth ratio of 0.92 and a beta of 0.96. The business's fifty day moving average is $95.42 and its 200 day moving average is $87.26.

Charles Schwab (NYSE:SCHW - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.04. The company 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%.Charles Schwab's revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter last year, the business posted $0.73 EPS. As a group, sell-side analysts expect that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab declared that its board has authorized a stock buyback program on Thursday, July 24th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the financial services provider to purchase up to 11.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its stock is 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 dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab's dividend payout ratio (DPR) is currently 29.03%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on SCHW shares. Wells Fargo & Company set a $102.00 target price on Charles Schwab and gave the stock an "overweight" rating in a research note on Friday, July 18th. William Blair downgraded Charles Schwab from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 3rd. Citigroup increased their price target on Charles Schwab from $105.00 to $110.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Deutsche Bank Aktiengesellschaft reduced their price target on Charles Schwab from $114.00 to $113.00 and set a "buy" rating on the stock in a research report on Tuesday. Finally, Morgan Stanley increased their price target on Charles Schwab from $117.00 to $131.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Sixteen research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $100.00.

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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