The Charles Schwab Co. (NYSE:SCHW) Shares Bought by Next Capital Management LLC

Next Capital Management LLC grew its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 1.7% in the second quarter, Holdings Channel reports. The institutional investor owned 66,160 shares of the financial services provider’s stock after buying an additional 1,112 shares during the period. Charles Schwab accounts for 2.0% of Next Capital Management LLC’s holdings, making the stock its 11th biggest holding. Next Capital Management LLC’s holdings in Charles Schwab were worth $4,875,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Nelson Capital Management LLC grew its holdings in Charles Schwab by 0.4% during the first quarter. Nelson Capital Management LLC now owns 37,726 shares of the financial services provider’s stock worth $2,729,000 after acquiring an additional 141 shares during the period. Abbrea Capital LLC boosted its position in shares of Charles Schwab by 2.5% during the 1st quarter. Abbrea Capital LLC now owns 5,777 shares of the financial services provider’s stock worth $418,000 after purchasing an additional 142 shares in the last quarter. Ironwood Financial llc grew its stake in shares of Charles Schwab by 1.6% during the 1st quarter. Ironwood Financial llc now owns 10,186 shares of the financial services provider’s stock worth $737,000 after purchasing an additional 160 shares during the period. Ascent Wealth Partners LLC increased its holdings in shares of Charles Schwab by 0.7% in the 2nd quarter. Ascent Wealth Partners LLC now owns 23,361 shares of the financial services provider’s stock valued at $1,721,000 after purchasing an additional 164 shares in the last quarter. Finally, Sutton Place Investors LLC lifted its stake in shares of Charles Schwab by 2.1% in the second quarter. Sutton Place Investors LLC now owns 8,086 shares of the financial services provider’s stock valued at $596,000 after purchasing an additional 167 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insiders Place Their Bets

In other news, insider Jonathan S. Beatty sold 780 shares of Charles Schwab stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $75.00, for a total value of $58,500.00. Following the completion of the sale, the insider now owns 18,069 shares of the company’s stock, valued at $1,355,175. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Jonathan S. Beatty sold 780 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $75.00, for a total value of $58,500.00. Following the sale, the insider now directly owns 18,069 shares of the company’s stock, valued at $1,355,175. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Charles R. Schwab sold 67,386 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total transaction of $4,387,502.46. Following the transaction, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at approximately $3,946,927,245.81. The disclosure for this sale can be found here. Insiders have sold a total of 99,636 shares of company stock valued at $6,457,104 in the last quarter. 6.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have weighed in on SCHW shares. Piper Sandler lowered shares of Charles Schwab from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $80.00 to $64.00 in a research report on Monday, July 29th. The Goldman Sachs Group decreased their price target on Charles Schwab from $71.00 to $67.00 and set a “neutral” rating on the stock in a research note on Thursday. Wells Fargo & Company started coverage on Charles Schwab in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 price objective for the company. TD Cowen reaffirmed a “hold” rating and set a $71.00 price objective (down from $88.00) on shares of Charles Schwab in a report on Wednesday, July 17th. Finally, Bank of America lowered their target price on Charles Schwab from $72.00 to $66.00 and set an “underperform” rating on the stock in a report on Wednesday, July 17th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $73.31.

Charles Schwab Trading Up 0.9 %

Charles Schwab stock opened at $64.42 on Monday. The stock has a 50-day moving average price of $64.10 and a 200 day moving average price of $69.86. The Charles Schwab Co. has a 52 week low of $48.66 and a 52 week high of $79.49. The stock has a market cap of $114.57 billion, a PE ratio of 26.95, a P/E/G ratio of 1.21 and a beta of 0.97. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.68 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.75 earnings per share. Equities research analysts predict that The Charles Schwab Co. will post 3.05 earnings per share for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were issued a $0.25 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.00 annualized dividend and a yield of 1.55%. Charles Schwab’s dividend payout ratio (DPR) is presently 41.84%.

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.