Next Capital Management LLC Cuts Holdings in The Charles Schwab Co. (NYSE:SCHW)

Next Capital Management LLC reduced its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 35.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,342 shares of the financial services provider’s stock after selling 10,054 shares during the quarter. Next Capital Management LLC’s holdings in Charles Schwab were worth $1,357,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. GM Advisory Group LLC lifted its position in shares of Charles Schwab by 3.8% during the 4th quarter. GM Advisory Group LLC now owns 20,736 shares of the financial services provider’s stock valued at $1,535,000 after buying an additional 750 shares in the last quarter. Harvest Fund Management Co. Ltd lifted its holdings in Charles Schwab by 140,050.0% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 5,606 shares of the financial services provider’s stock valued at $415,000 after purchasing an additional 5,602 shares in the last quarter. Vinva Investment Management Ltd grew its position in shares of Charles Schwab by 55.7% in the fourth quarter. Vinva Investment Management Ltd now owns 72,932 shares of the financial services provider’s stock valued at $5,392,000 after purchasing an additional 26,104 shares during the period. VSM Wealth Advisory LLC purchased a new stake in shares of Charles Schwab during the fourth quarter worth about $72,000. Finally, ProVise Management Group LLC raised its position in shares of Charles Schwab by 1.1% during the 4th quarter. ProVise Management Group LLC now owns 166,640 shares of the financial services provider’s stock worth $12,333,000 after purchasing an additional 1,811 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Charles Schwab Price Performance

Shares of NYSE SCHW opened at $77.52 on Wednesday. The stock’s 50-day simple moving average is $78.65 and its 200-day simple moving average is $74.57. The firm has a market capitalization of $140.58 billion, a PE ratio of 25.93, a price-to-earnings-growth ratio of 0.99 and a beta of 0.98. The Charles Schwab Co. has a fifty-two week low of $61.01 and a fifty-two week high of $84.50. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.11. The business had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5.19 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The company’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.68 EPS. As a group, equities research analysts forecast that The Charles Schwab Co. will post 4.22 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a dividend of $0.27 per share. The ex-dividend date was Friday, February 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.39%. This is a boost from Charles Schwab’s previous quarterly dividend of $0.25. Charles Schwab’s payout ratio is 36.12%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Barclays boosted their price objective on Charles Schwab from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Citigroup boosted their price target on shares of Charles Schwab from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Piper Sandler increased their price objective on Charles Schwab from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Morgan Stanley lifted their price target on shares of Charles Schwab from $84.00 to $91.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Finally, UBS Group boosted their price objective on Charles Schwab from $90.00 to $95.00 and gave the company a “buy” rating in a report on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $86.33.

Insider Activity

In other news, insider Paul V. Woolway sold 9,887 shares of Charles Schwab stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $75.38, for a total value of $745,282.06. Following the transaction, the insider now directly owns 47,931 shares of the company’s stock, valued at $3,613,038.78. The trade was a 17.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Arun Sarin sold 8,548 shares of the stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $81.82, for a total transaction of $699,397.36. Following the sale, the director now owns 18,617 shares of the company’s stock, valued at approximately $1,523,242.94. This represents a 31.47 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 501,087 shares of company stock valued at $40,952,233. Insiders own 6.60% of the company’s stock.

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.