Next Capital Management LLC Takes Position in The Charles Schwab Corporation $SCHW

Next Capital Management LLC acquired a new position in The Charles Schwab Corporation (NYSE:SCHW) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 16,323 shares of the financial services provider’s stock, valued at approximately $1,506,000.

A number of other institutional investors also recently bought and sold shares of the stock. Norges Bank bought a new stake in Charles Schwab during the fourth quarter valued at about $1,994,189,000. Bank of New York Mellon Corp lifted its position in shares of Charles Schwab by 22.9% during the 1st quarter. Bank of New York Mellon Corp now owns 16,162,082 shares of the financial services provider’s stock valued at $1,518,913,000 after buying an additional 3,009,884 shares in the last quarter. Primecap Management Co. CA grew its stake in shares of Charles Schwab by 9.7% during the 4th quarter. Primecap Management Co. CA now owns 23,276,071 shares of the financial services provider’s stock valued at $2,325,512,000 after acquiring an additional 2,066,884 shares during the period. Focus Partners Wealth increased its holdings in Charles Schwab by 716.5% in the 4th quarter. Focus Partners Wealth now owns 2,101,463 shares of the financial services provider’s stock worth $209,948,000 after acquiring an additional 1,844,095 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. purchased a new stake in Charles Schwab in the 1st quarter worth approximately $129,140,000. 84.38% of the stock is owned by institutional investors.

Charles Schwab Price Performance

Shares of NYSE:SCHW opened at $111.03 on Friday. The firm has a market cap of $192.00 billion, a price-to-earnings ratio of 20.19, a P/E/G ratio of 0.84 and a beta of 0.76. The firm has a fifty day moving average price of $99.40 and a 200 day moving average price of $95.89. The Charles Schwab Corporation has a fifty-two week low of $83.96 and a fifty-two week high of $111.18. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.62 and a current ratio of 0.64.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.62 EPS for the quarter, topping the consensus estimate of $1.56 by $0.06. Charles Schwab had a net margin of 38.79% and a return on equity of 24.53%. The business had revenue of $7.07 billion for the quarter, compared to analysts’ expectations of $6.90 billion. During the same quarter in the previous year, the company earned $1.14 EPS. The business’s quarterly revenue was up 20.9% compared to the same quarter last year. As a group, sell-side analysts expect that The Charles Schwab Corporation will post 6.46 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, August 14th. Charles Schwab’s payout ratio is currently 23.27%.

Insider Buying and Selling

In related news, insider Dennis Howard sold 28,000 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $105.01, for a total value of $2,940,280.00. Following the sale, the insider owned 10,470 shares in the company, valued at approximately $1,099,454.70. The trade was a 72.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paula A. Sneed sold 5,263 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $107.15, for a total transaction of $563,930.45. Following the sale, the director directly owned 91,711 shares in the company, valued at approximately $9,826,833.65. The trade was a 5.43% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 395,786 shares of company stock valued at $41,346,459 in the last ninety days. Company insiders own 6.30% of the company’s stock.

Analysts Set New Price Targets

SCHW has been the topic of several analyst reports. TD Cowen lifted their price target on shares of Charles Schwab from $108.00 to $109.00 and gave the company a “buy” rating in a report on Friday, May 15th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Charles Schwab in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. upped their target price on shares of Charles Schwab from $128.00 to $131.00 and gave the stock an “overweight” rating in a report on Friday, April 17th. Zacks Research upgraded Charles Schwab from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 9th. Finally, BMO Capital Markets cut Charles Schwab from an “outperform” rating to a “market perform” rating and set a $105.00 price target on the stock. in a report on Monday, July 20th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $121.17.

About Charles Schwab

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.