The Charles Schwab Corporation $SCHW is Beck Mack & Oliver LLC's 8th Largest Position

Key Points

• Beck Mack & Oliver LLC increased its stake in Charles Schwab, owning approximately $169.99 million worth of shares, which represents 3.4% of its investment portfolio.
• Charles Schwab recently reported a net income of $1.14 EPS for the quarter, exceeding analysts' estimates, with revenues increasing by 24.8% year-over-year to $5.85 billion.
• The company announced a $20 billion stock buyback program, indicating leadership believes the stock is undervalued, alongside a quarterly dividend of $0.27 per share.

Beck Mack & Oliver LLC raised its stake in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 2.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,171,570 shares of the financial services provider's stock after buying an additional 48,359 shares during the quarter. Charles Schwab comprises about 3.4% of Beck Mack & Oliver LLC's investment portfolio, making the stock its 8th biggest holding. Beck Mack & Oliver LLC owned about 0.12% of Charles Schwab worth $169,990,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Atwood & Palmer Inc. purchased a new position in Charles Schwab during the first quarter worth approximately $25,000. Westside Investment Management Inc. grew its position in Charles Schwab by 75.0% in the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock worth $27,000 after buying an additional 150 shares during the last quarter. Stone House Investment Management LLC acquired a new position in Charles Schwab during the 1st quarter worth $31,000. Activest Wealth Management grew its stake 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 valued at $32,000 after purchasing an additional 399 shares during the last quarter. Finally, WFA Asset Management Corp acquired a new stake in Charles Schwab in the 1st quarter valued at $33,000. Institutional investors own 84.38% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Redburn Atlantic raised shares of Charles Schwab from a "sell" rating to a "neutral" rating and increased their target price for the stock from $65.00 to $82.00 in a research note on Monday, June 9th. Cowen reiterated a "buy" rating on shares of Charles Schwab in a report on Tuesday, May 20th. Barclays boosted their price objective on Charles Schwab from $106.00 to $113.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. JMP Securities increased their price objective on Charles Schwab from $106.00 to $110.00 and gave the stock a "market outperform" rating in a report on Monday, July 21st. Finally, Citigroup raised their price objective on Charles Schwab from $105.00 to $110.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Sixteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $99.60.

Insider Activity at Charles Schwab

In related news, insider Nigel J. Murtagh sold 24,096 shares of the stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $97.91, for a total value of $2,359,239.36. Following the sale, the insider directly owned 58,999 shares of the company's stock, valued at approximately $5,776,592.09. This represents a 29.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jonathan S. Beatty sold 6,144 shares of Charles Schwab 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 295,009 shares of company stock valued at $28,717,464 over the last three months. Company insiders own 6.30% of the company's stock.

Charles Schwab Trading Down 0.1%

Shares of NYSE SCHW traded down $0.06 during midday trading on Wednesday, hitting $96.06. The stock had a trading volume of 7,261,150 shares, compared to its average volume of 7,386,242. The company has a market capitalization of $174.36 billion, a price-to-earnings ratio of 25.82, a PEG ratio of 0.94 and a beta of 0.96. The company has a fifty day moving average price of $94.87 and a 200 day moving average price of $86.06. 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 1-year low of $61.16 and a 1-year high of $99.59.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.04. The firm had revenue of $5.85 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.73 EPS. On average, analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors 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 is presently 29.03%.

Charles Schwab declared that its board has approved a share buyback plan on Thursday, July 24th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 11.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

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.