Next Capital Management LLC Invests $1.51 Million in The Charles Schwab Corporation $SCHW

Key Points

• Next Capital Management acquired 16,323 Charles Schwab shares worth approximately $1.51 million during the second quarter. Institutional investors collectively own 84.38% of the company.
• Analysts maintain a generally positive outlook, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $121.17.
• Charles Schwab reported stronger-than-expected quarterly results, with $1.62 EPS and $7.07 billion in revenue, while announcing a quarterly dividend of $0.32 per share.

Next Capital Management LLC acquired a new stake in The Charles Schwab Corporation (NYSE:SCHW - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 16,323 shares of the financial services provider's stock, valued at approximately $1,506,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Dogwood Wealth Management LLC increased its position in Charles Schwab by 99.2% during the 4th quarter. Dogwood Wealth Management LLC now owns 247 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 123 shares during the period. Scarborough Advisors LLC purchased a new stake in shares of Charles Schwab in the 1st quarter worth about $29,000. McIlrath & Eck LLC lifted its position in shares of Charles Schwab by 143.2% in the 4th quarter. McIlrath & Eck LLC now owns 321 shares of the financial services provider's stock worth $32,000 after purchasing an additional 189 shares during the period. Main Street Group LTD bought a new stake in shares of Charles Schwab during the 1st quarter valued at about $33,000. Finally, Newbridge Financial Services Group Inc. increased its position in shares of Charles Schwab by 233.6% during the third quarter. Newbridge Financial Services Group Inc. now owns 357 shares of the financial services provider's stock valued at $34,000 after buying an additional 250 shares during the period. 84.38% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, General Counsel Peter J. Morgan III sold 6,952 shares of the firm's stock in a transaction on Thursday, July 23rd. The stock was sold at an average price of $102.03, for a total value of $709,312.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Nigel J. Murtagh sold 24,778 shares of Charles Schwab stock in a transaction on Monday, August 10th. The stock was sold at an average price of $109.01, for a total value of $2,701,049.78. Following the completion of the sale, the insider directly owned 57,972 shares of the company's stock, valued at $6,319,527.72. The trade was a 29.94% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 395,786 shares of company stock valued at $41,346,459 in the last ninety days. Corporate insiders own 6.30% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. UBS Group set a $135.00 price objective on Charles Schwab in a research report on Monday, August 3rd. Wolfe Research reissued an "outperform" rating and set a $127.00 price objective on shares of Charles Schwab in a research note on Tuesday, July 21st. Zacks Research raised shares of Charles Schwab from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 9th. Piper Sandler set a $118.00 target price on shares of Charles Schwab in a report on Tuesday, July 21st. Finally, Compass Point started coverage on Charles Schwab in a research report on Monday, August 3rd. They issued a "buy" rating and a $135.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $121.17.

Charles Schwab Price Performance

NYSE SCHW opened at $111.03 on Friday. The Charles Schwab Corporation has a one year low of $83.96 and a one year high of $111.18. The stock has a 50-day moving average of $99.40 and a 200 day moving average of $95.89. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.62 and a current ratio of 0.64. The company has a market capitalization of $192.00 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 0.84 and a beta of 0.76.

Charles Schwab (NYSE:SCHW - Get Free Report) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share (EPS) for the quarter, beating 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 prior year, the business earned $1.14 EPS. The business's revenue for the quarter was up 20.9% compared to the same quarter last year. On average, sell-side analysts forecast that The Charles Schwab Corporation will post 6.46 EPS for the current year.

Charles Schwab Dividend Announcement

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

Charles Schwab Profile

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.

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