Geneos Wealth Management Inc. Boosts Stake in The Charles Schwab Corporation (NYSE:SCHW)

Key Points

• Geneos Wealth Management Inc. increased its holdings in The Charles Schwab Corporation by 6.3% in the first quarter, owning a total of 105,176 shares valued at approximately $8.23 million.
• Charles Schwab's quarterly earnings report showed an EPS of $1.14, exceeding estimates, and a revenue of $5.85 billion, marking a 24.8% year-over-year increase.
• The company's Board of Directors initiated a $20 billion stock repurchase plan, indicating management's belief that the shares are undervalued.

Geneos Wealth Management Inc. boosted its holdings in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 6.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 105,176 shares of the financial services provider's stock after acquiring an additional 6,198 shares during the quarter. Geneos Wealth Management Inc.'s holdings in Charles Schwab were worth $8,233,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Atwood & Palmer Inc. purchased a new position in Charles Schwab during the first quarter valued at approximately $25,000. Westside Investment Management Inc. grew its position in Charles Schwab by 75.0% during the first quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 150 shares in the last quarter. WFA Asset Management Corp bought a new stake in shares of Charles Schwab in the 1st quarter valued at approximately $33,000. Cornerstone Planning Group LLC grew its stake in shares of Charles Schwab by 90.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 463 shares of the financial services provider's stock valued at $36,000 after buying an additional 220 shares in the last quarter. Finally, Beacon Capital Management LLC grew its stake in shares of Charles Schwab by 53.1% in the 1st quarter. Beacon Capital Management LLC now owns 487 shares of the financial services provider's stock valued at $38,000 after buying an additional 169 shares in the last quarter. Hedge funds and other institutional investors own 84.38% of the company's stock.

Analyst Upgrades and Downgrades

SCHW has been the subject of several recent research reports. UBS Group boosted their price target on Charles Schwab from $95.00 to $96.00 and gave the company a "buy" rating in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. boosted their price target on Charles Schwab from $92.00 to $95.00 and gave the company an "overweight" rating in a research note on Monday, April 21st. William Blair lowered Charles Schwab from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 3rd. Barclays boosted their target price on Charles Schwab from $106.00 to $113.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Finally, Raymond James Financial restated an "outperform" rating and issued a $99.00 target price on shares of Charles Schwab in a report on Friday, July 18th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $99.35.

Insider Buying and Selling at Charles Schwab

In other news, insider Nigel J. Murtagh sold 24,096 shares of the business's stock in a transaction dated 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 transaction, the insider directly owned 58,999 shares in the company, valued at $5,776,592.09. The trade was a 29.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul V. Woolway sold 3,290 shares of the business'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 completion of the transaction, the insider owned 35,864 shares in the company, valued at $3,261,830.80. The trade was a 8.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders 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 NYSE SCHW traded down $1.93 during midday trading on Friday, hitting $95.80. 5,968,422 shares of the stock traded hands, compared to its average volume of 10,173,761. The firm has a 50-day moving average of $91.12 and a two-hundred day moving average of $83.50. The firm has a market capitalization of $174.07 billion, a P/E ratio of 25.74, a PEG ratio of 0.95 and a beta of 0.93. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.53 and a current ratio of 0.53. The Charles Schwab Corporation has a one year low of $61.15 and a one year high of $99.59.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its earnings results on Friday, July 18th. The financial services provider reported $1.14 EPS for the quarter, topping 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 company had revenue of $5.85 billion for the quarter, compared to analysts' expectations of $5.64 billion. During the same period last year, the firm earned $0.73 EPS. Charles Schwab's revenue for the quarter was up 24.8% compared to the same quarter last year. On average, equities analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 8th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. Charles Schwab's dividend payout ratio (DPR) is currently 29.03%.

Charles Schwab declared that its board has approved a share repurchase plan 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 reacquire up to 11.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its stock is 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.