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TOP HEAVY MARKET
The top 20 biggest buyers account for 53% of S&P 500 share repurchase volume.
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BUYBACKS AND SHAREHOLDER PAYOUT
Buybacks have out sized dividend payments every quarter since 2004, with the only exception being during the 2008/09 recession and in Q2/Q3 of 2020.
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Buybacks in Recessionary Periods
Analysis of share repurchase and dividend performance during recessions
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BUYBACKS POLITICAL LANDSCAPE
A review of policies proposed and the potential impact on corporate share repurchases
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BUYBACKS in THE FINANCIAL SECTOR
The Financial sector has grown from accounting for ~5% to over 20% of all buyback volumes
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Market Insights

Growth of Share Repurchases

After reaching record highs from 2018 to Q1 2020, repurchase fell 55% in Q2
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Market Update

Monthly Market Report, September 2020

Announced share repurchase authorizations have slowed considerably since March, aside from a few large Tech/Telecom companies continuing repurchases.
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Market Insights

Growth of Share Repurchases

Despite slowing down in 2019, corporations have spent on average over $200BN quarterly on stock buybacks on an LTM basis.
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Market Update

Monthly Market Report, January 2020

The new year began without much fireworks in the buyback market; it was the smallest month by authorized volumes in over seven years. 33 announcements greater than $25M, representing $14BN. 
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Buybacks in the News

Market Insights

Buybacks & Earnings

Quarterly share buybacks and reported earnings have a strong correlation, particularly with a quarter lag.
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Biggest Buyers
Market Insights

The Biggest Buyers

In recent years, Apple has been the undeniable leader in share repurchase volumes, outspending all others.
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Market Insights
Quarterly share buybacks and reported earnings have a strong correlation, particularly with a quarter lag.
Read More
Market Insights

The Biggest Buyers

In recent years, Apple has been the undeniable leader in share repurchase volumes, outspending all others.
Read More
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Market Insights

Buybacks, Net Income, & EPS

Earnings-per-share has outpaced the growth of net income, illustrating some of the effects of rapid buyback growth.
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Market Insights

Buybacks: Rules and Methods

How a company can repurchase their shares and what rules must be followed.
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Market Insights

Buybacks, Net Income, & EPS

Earnings-per-share has outpaced the growth of net income, illustrating some of the effects of rapid buyback growth.
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Market Insights

Buybacks: Rules and Methods

How a company can repurchase their shares and what rules must be followed.
Read More

Disclaimer

The Information presented is for information purposes only and may not be communicated, reproduced, or distributed without Guzman & Company’s (“Guzman”) express authorization.  This communication has been prepared by sales, trading, or other non-research personnel of Guzman. The information presented has been compiled from publicly available information and sources that Guzman believes to be reliable, but Guzman does not represent or warrant that the information is accurate or complete and undertake no obligation to update the information presented. This is not a Research Report and the information presented is insufficient to form an investment opinion.  Guzman makes no express warranties with respect to any information included in this communication, and expressly disclaims all warranties of merchantability or fitness for a particular purpose or use.  Without limiting any of the foregoing and to the extent permitted by law, Guzman accepts no liability whatsoever for any consequential losses arising from the use or reliance on the information contained herein. Guzman & Company is a registered broker dealer in Coral Gables, FL, Member FINRA, SIPC.