Drive Wealth Management LLC Has $638,000 Stake in The Charles Schwab Co. (NYSE:SCHW)

Drive Wealth Management LLC grew its stake in shares of The Charles Schwab Co. (NYSE:SCHW) by 5.4% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 9,841 shares of the financial services provider’s stock after buying an additional 503 shares during the period. Drive Wealth Management LLC’s holdings in Charles Schwab were worth $638,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its stake in shares of Charles Schwab by 4.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock valued at $5,230,657,000 after buying an additional 2,946,327 shares in the last quarter. Legal & General Group Plc increased its stake in Charles Schwab by 2.1% in the second quarter. Legal & General Group Plc now owns 10,886,058 shares of the financial services provider’s stock valued at $802,193,000 after acquiring an additional 225,397 shares during the period. Allen Investment Management LLC raised its position in Charles Schwab by 3.0% in the second quarter. Allen Investment Management LLC now owns 8,712,364 shares of the financial services provider’s stock worth $642,014,000 after purchasing an additional 251,485 shares in the last quarter. Lazard Asset Management LLC lifted its stake in Charles Schwab by 8.9% during the first quarter. Lazard Asset Management LLC now owns 7,305,050 shares of the financial services provider’s stock worth $528,445,000 after purchasing an additional 596,589 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in Charles Schwab by 0.6% during the third quarter. Principal Financial Group Inc. now owns 6,673,901 shares of the financial services provider’s stock valued at $432,536,000 after purchasing an additional 38,201 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Insiders Place Their Bets

In related news, insider Jonathan S. Beatty sold 2,500 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $77.02, for a total transaction of $192,550.00. Following the sale, the insider now owns 18,069 shares of the company’s stock, valued at approximately $1,391,674.38. This trade represents a 12.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total value of $576,450.00. Following the transaction, the director now owns 554,929 shares in the company, valued at $35,543,202.45. This trade represents a 1.60 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 103,645 shares of company stock worth $7,440,627. Insiders own 6.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Bank of America dropped their target price on Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company in a report on Wednesday, October 16th. Jefferies Financial Group dropped their price objective on Charles Schwab from $79.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Raymond James reduced their target price on shares of Charles Schwab from $76.00 to $73.00 in a research note on Tuesday, October 15th. Citigroup lowered their target price on shares of Charles Schwab from $75.00 to $72.00 and set a “neutral” rating on the stock in a report on Friday, September 27th. Finally, StockNews.com raised shares of Charles Schwab from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $74.18.

Charles Schwab Stock Up 0.6 %

Shares of NYSE:SCHW opened at $80.64 on Monday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.42. The stock has a market cap of $143.51 billion, a price-to-earnings ratio of 31.50, a P/E/G ratio of 1.76 and a beta of 0.96. The company has a 50 day moving average of $68.74 and a 200-day moving average of $69.59. The Charles Schwab Co. has a one year low of $55.09 and a one year high of $82.50.

Charles Schwab (NYSE:SCHW) last released its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.77 EPS. On average, sell-side analysts forecast that The Charles Schwab Co. will post 3.12 earnings per share for the current year.

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.24%. The ex-dividend date is Friday, November 8th. Charles Schwab’s payout ratio is 39.06%.

About Charles Schwab

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.