Drive Wealth Management LLC Reduces Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Drive Wealth Management LLC lowered its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 3.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,495 shares of the financial services provider’s stock after selling 346 shares during the quarter. Drive Wealth Management LLC’s holdings in Charles Schwab were worth $703,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its holdings in shares of Charles Schwab by 15.0% during the third quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock valued at $1,644,674,000 after buying an additional 3,157,923 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Charles Schwab by 6.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock worth $1,858,706,000 after acquiring an additional 1,711,312 shares in the last quarter. AustralianSuper Pty Ltd raised its holdings in Charles Schwab by 2,617.6% during the 3rd quarter. AustralianSuper Pty Ltd now owns 1,707,771 shares of the financial services provider’s stock worth $110,681,000 after buying an additional 1,644,931 shares during the period. Two Sigma Advisers LP acquired a new position in Charles Schwab in the 3rd quarter worth approximately $86,845,000. Finally, International Assets Investment Management LLC lifted its stake in Charles Schwab by 7,559.9% in the 3rd quarter. International Assets Investment Management LLC now owns 889,779 shares of the financial services provider’s stock worth $57,667,000 after acquiring an additional 878,163 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Christopher V. Dodds sold 9,284 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $81.43, for a total transaction of $755,996.12. Following the completion of the transaction, the director now directly owns 442,807 shares of the company’s stock, valued at $36,057,774.01. This represents a 2.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jonathan S. Beatty sold 2,500 shares of the business’s stock in a transaction dated 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 directly owns 18,069 shares in the company, valued at $1,391,674.38. This trade represents a 12.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,466 shares of company stock valued at $3,352,884. 6.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently commented on SCHW. The Goldman Sachs Group boosted their price objective on shares of Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Cowen lifted their price objective on Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. Jefferies Financial Group raised their price target on Charles Schwab from $84.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Barclays boosted their price target on Charles Schwab from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $94.00 price objective (up previously from $84.00) on shares of Charles Schwab in a research report on Monday, December 9th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Charles Schwab currently has an average rating of “Hold” and a consensus target price of $83.83.

Charles Schwab Trading Down 0.5 %

SCHW opened at $81.67 on Monday. The Charles Schwab Co. has a 1-year low of $61.01 and a 1-year high of $83.35. The stock has a market capitalization of $145.34 billion, a PE ratio of 27.31, a PEG ratio of 1.46 and a beta of 0.99. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59. The firm has a 50-day moving average price of $77.81 and a two-hundred day moving average price of $70.86.

Charles Schwab (NYSE:SCHW) last posted 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 firm had revenue of $5.33 billion during the quarter, compared to analysts’ expectations of $5,190,822.51 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. Charles Schwab’s revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.68 EPS. As a group, equities analysts anticipate that The Charles Schwab Co. will post 4.09 earnings per share for the current fiscal year.

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.