Next Capital Management LLC Purchases 702 Shares of The Charles Schwab Corporation $SCHW

Next Capital Management LLC raised its stake in The Charles Schwab Corporation (NYSE:SCHW) by 4.4% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 16,684 shares of the financial services provider’s stock after buying an additional 702 shares during the period. Next Capital Management LLC’s holdings in Charles Schwab were worth $1,522,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SCHW. Vanguard Group Inc. raised its holdings in shares of Charles Schwab by 15.4% in the 1st quarter. Vanguard Group Inc. now owns 148,395,252 shares of the financial services provider’s stock valued at $11,616,380,000 after purchasing an additional 19,817,022 shares in the last quarter. Wellington Management Group LLP grew its position in Charles Schwab by 595.7% during the 1st quarter. Wellington Management Group LLP now owns 15,488,777 shares of the financial services provider’s stock worth $1,212,461,000 after purchasing an additional 13,262,309 shares during the last quarter. Primecap Management Co. CA boosted its holdings in shares of Charles Schwab by 229.3% in the 1st quarter. Primecap Management Co. CA now owns 14,002,078 shares of the financial services provider’s stock valued at $1,096,083,000 after acquiring an additional 9,749,728 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Charles Schwab by 12.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 82,048,984 shares of the financial services provider’s stock valued at $6,422,795,000 after acquiring an additional 8,954,248 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Charles Schwab in the 1st quarter valued at $440,699,000. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Stock Down 1.4%

Shares of NYSE:SCHW opened at $93.18 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.55 and a current ratio of 0.55. The Charles Schwab Corporation has a 1 year low of $65.88 and a 1 year high of $99.59. The stock has a market capitalization of $169.15 billion, a P/E ratio of 21.82, a PEG ratio of 0.85 and a beta of 0.97. The stock has a 50-day simple moving average of $94.23 and a 200-day simple moving average of $91.46.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. The firm had revenue of $6.14 billion during the quarter, compared to analysts’ expectations of $5.93 billion. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.Charles Schwab’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.71 EPS. Equities analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab declared that its board has authorized 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 stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Charles Schwab Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, November 14th. Charles Schwab’s dividend payout ratio is currently 25.29%.

Insider Activity at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 6,144 shares of the stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $96.81, for a total value of $594,800.64. Following the sale, the insider directly owned 11,923 shares of the company’s stock, valued at $1,154,265.63. This trade represents a 34.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul V. Woolway sold 3,205 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $93.33, for a total value of $299,122.65. Following the completion of the sale, the insider directly owned 34,778 shares in the company, valued at $3,245,830.74. This represents a 8.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 65,866 shares of company stock valued at $6,370,897. Corporate insiders own 6.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Truist Financial increased their price target on shares of Charles Schwab from $112.00 to $113.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Bank of America increased their price target on Charles Schwab from $84.00 to $86.00 and gave the stock an “underperform” rating in a report on Thursday, October 2nd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $114.00 price target on shares of Charles Schwab in a report on Friday, October 17th. TD Cowen raised their target price on Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a report on Friday, October 17th. Finally, Keefe, Bruyette & Woods raised their target price on Charles Schwab from $109.00 to $111.00 and gave the company an “outperform” rating in a report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $106.45.

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.