MGO One Seven LLC Has $4.01 Million Stock Holdings in The Charles Schwab Corporation (NYSE:SCHW)

Key Points

• MGO One Seven LLC increased its stake in The Charles Schwab Corporation by 50.6% in Q1, bringing its holdings to 51,159 shares valued at $4.01 million.
• Charles Schwab's Chairman, Walter W. Bettinger, sold 173,876 shares for approximately $17.2 million, representing a 22.74% decrease in his position.
• The company announced a $20 billion share buyback program and a quarterly dividend of $0.27 per share, indicating strong financial management and confidence in its stock value.

MGO One Seven LLC grew its stake in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 50.6% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 51,159 shares of the financial services provider's stock after acquiring an additional 17,181 shares during the quarter. MGO One Seven LLC's holdings in Charles Schwab were worth $4,005,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Cary Street Partners Financial LLC acquired a new stake in shares of Charles Schwab during the 4th quarter valued at $1,455,000. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in Charles Schwab by 6.2% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,181,563 shares of the financial services provider's stock worth $92,493,000 after acquiring an additional 68,858 shares during the last quarter. Graham Capital Management L.P. grew its holdings in Charles Schwab by 248.3% during the 4th quarter. Graham Capital Management L.P. now owns 112,376 shares of the financial services provider's stock worth $8,317,000 after acquiring an additional 80,112 shares during the last quarter. World Investment Advisors increased its position in Charles Schwab by 7.6% in the 1st quarter. World Investment Advisors now owns 163,007 shares of the financial services provider's stock valued at $12,760,000 after acquiring an additional 11,505 shares during the period. Finally, State of Alaska Department of Revenue raised its stake in shares of Charles Schwab by 17.2% during the first quarter. State of Alaska Department of Revenue now owns 199,687 shares of the financial services provider's stock valued at $15,631,000 after acquiring an additional 29,255 shares during the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Charles Schwab news, Chairman Walter W. Bettinger sold 173,876 shares of the firm's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $98.84, for a total value of $17,185,903.84. Following the completion of the transaction, the chairman owned 590,734 shares in the company, 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 through this hyperlink. Also, insider Paul V. Woolway sold 3,290 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $90.95, for a total value of $299,225.50. Following the sale, the insider owned 35,864 shares in the company, valued at approximately $3,261,830.80. This represents a 8.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 304,726 shares of company stock valued at $29,025,396. 6.30% of the stock is currently owned by corporate insiders.

Charles Schwab Stock Performance

Shares of SCHW opened at $97.80 on Friday. The Charles Schwab Corporation has a 1 year low of $61.15 and a 1 year high of $99.59. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.53 and a quick ratio of 0.53. The stock's fifty day moving average price is $91.12 and its two-hundred day moving average price is $83.50. The firm has a market cap of $177.70 billion, a PE ratio of 26.29, a PEG ratio of 0.95 and a beta of 0.93.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.10 by $0.04. Charles Schwab had a return on equity of 19.73% and a net margin of 33.68%. The business had revenue of $5.85 billion for the quarter, compared to analysts' expectations of $5.64 billion. During the same period in the previous year, the business posted $0.73 EPS. The firm's quarterly revenue was up 24.8% compared to the same quarter last year. On average, equities research analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab announced that its board has authorized a share buyback program on Thursday, July 24th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 11.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its stock is undervalued.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 8th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, August 8th. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. Charles Schwab's dividend payout ratio is currently 29.03%.

Analysts Set New Price Targets

A number of research firms have commented on SCHW. Barclays upped their price target on Charles Schwab from $106.00 to $113.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. JPMorgan Chase & Co. upped their target price on Charles Schwab from $92.00 to $95.00 and gave the company an "overweight" rating in a report on Monday, April 21st. Truist Financial increased their target price on shares of Charles Schwab from $100.00 to $107.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Raymond James Financial restated an "outperform" rating and issued a $99.00 price target on shares of Charles Schwab in a research report on Friday, July 18th. Finally, Wells Fargo & Company set a $102.00 price objective on shares of Charles Schwab and gave the company an "overweight" rating in a research note on Friday, July 18th. Two analysts have rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $99.35.

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.

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