GM Advisory Group LLC Has $2.55 Million Holdings in The Charles Schwab Corporation $SCHW

Key Points

• GM Advisory Group LLC increased its holdings in The Charles Schwab Corporation by 57% in Q1, owning a total of 32,548 shares valued at approximately $2.55 million.
• Charles Schwab reported a quarterly earnings surprise with EPS of $1.14, exceeding estimates, and achieved a revenue of $5.85 billion, highlighting a year-over-year revenue increase of 24.8%.
• The company's Board of Directors approved a $20 billion share repurchase plan, signaling confidence in the valuation of its stock, and declared a quarterly dividend of $0.27 per share.

GM Advisory Group LLC raised its stake in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 57.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,548 shares of the financial services provider's stock after purchasing an additional 11,812 shares during the period. GM Advisory Group LLC's holdings in Charles Schwab were worth $2,548,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of SCHW. Capital Analysts LLC boosted its holdings in shares of Charles Schwab by 6.2% during the 1st quarter. Capital Analysts LLC now owns 52,882 shares of the financial services provider's stock worth $4,140,000 after buying an additional 3,087 shares during the period. Tradition Wealth Management LLC acquired a new position in Charles Schwab during the 1st quarter worth $236,000. Venture Visionary Partners LLC lifted its position in Charles Schwab by 4.1% during the 1st quarter. Venture Visionary Partners LLC now owns 10,044 shares of the financial services provider's stock worth $786,000 after acquiring an additional 396 shares during the last quarter. Credit Agricole S A boosted its holdings in Charles Schwab by 39.1% during the first quarter. Credit Agricole S A now owns 683,027 shares of the financial services provider's stock valued at $53,467,000 after acquiring an additional 192,002 shares during the period. Finally, Banco Bilbao Vizcaya Argentaria S.A. boosted its holdings in Charles Schwab by 15.2% during the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 123,005 shares of the financial services provider's stock valued at $9,622,000 after acquiring an additional 16,194 shares during the period. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Jonathan S. Beatty sold 2,850 shares of Charles Schwab stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $87.57, for a total value of $249,574.50. Following the completion of the sale, the insider directly owned 15,219 shares in the company, valued at $1,332,727.83. This trade represents a 15.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nigel J. Murtagh sold 24,096 shares of Charles Schwab 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 sale, the insider directly owned 58,999 shares of the company's stock, valued at approximately $5,776,592.09. This trade represents a 29.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 250,340 shares of company stock worth $24,250,303. 6.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Keefe, Bruyette & Woods lifted their price objective on Charles Schwab from $102.00 to $108.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. Citigroup raised their target price on Charles Schwab from $105.00 to $110.00 and gave the company a "buy" rating in a report on Monday, July 21st. Redburn Atlantic raised Charles Schwab from a "sell" rating to a "neutral" rating and lifted their price target for the stock from $65.00 to $82.00 in a research report on Monday, June 9th. Raymond James Financial reissued an "outperform" rating and issued a $99.00 price objective on shares of Charles Schwab in a research report on Friday, July 18th. Finally, Barclays raised their price objective on shares of Charles Schwab from $106.00 to $113.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Sixteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $99.60.

Charles Schwab Price Performance

NYSE:SCHW traded down $0.1690 during mid-day trading on Friday, hitting $95.6510. The company's stock had a trading volume of 12,859,422 shares, compared to its average volume of 7,972,781. The company has a market capitalization of $173.63 billion, a price-to-earnings ratio of 25.71, a P/E/G ratio of 0.94 and a beta of 0.96. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.47. The Charles Schwab Corporation has a fifty-two week low of $61.16 and a fifty-two week high of $99.59. The stock has a fifty day moving average of $93.85 and a 200-day moving average of $85.34.

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. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.The company had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.64 billion. During the same period in the prior year, the company posted $0.73 EPS. The company's revenue was up 24.8% compared to the same quarter last year. As a group, equities analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab announced that its Board of Directors has approved a stock repurchase 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 shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 8th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, August 8th. Charles Schwab's dividend payout ratio is 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.