RiverPark Advisors LLC Buys 1,994 Shares of The Charles Schwab Co. (NYSE:SCHW)

RiverPark Advisors LLC boosted its stake in The Charles Schwab Co. (NYSE:SCHW) by 13.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,917 shares of the financial services provider’s stock after purchasing an additional 1,994 shares during the period. RiverPark Advisors LLC’s holdings in Charles Schwab were worth $1,096,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in SCHW. Price T Rowe Associates Inc. MD grew its position in shares of Charles Schwab by 4.2% during 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 acquiring an additional 2,946,327 shares during the period. Darsana Capital Partners LP grew its position in shares of Charles Schwab by 200.0% during the 2nd quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the financial services provider’s stock valued at $221,070,000 after acquiring an additional 2,000,000 shares during the period. AustralianSuper Pty Ltd grew its position in shares of 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 valued at $110,681,000 after acquiring an additional 1,644,931 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Charles Schwab during the 1st quarter valued at $105,563,000. Finally, Westwood Holdings Group Inc. lifted its stake in shares of Charles Schwab by 231.2% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,498,929 shares of the financial services provider’s stock valued at $108,433,000 after buying an additional 1,046,322 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Insiders Place Their Bets

In other news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $64.05, for a total value of $576,450.00. Following the completion of the sale, the director now owns 554,929 shares of the company’s stock, valued at approximately $35,543,202.45. This represents a 1.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan S. Beatty sold 2,500 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 18,069 shares of the company’s stock, valued at $1,391,674.38. The trade was a 12.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 103,645 shares of company stock worth $7,440,627 in the last three months. Corporate insiders own 6.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SCHW shares. JPMorgan Chase & Co. lifted their target price on shares of Charles Schwab from $86.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Cowen lifted their target price on shares of Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Jefferies Financial Group lowered their target price on shares of Charles Schwab from $79.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. JMP Securities lifted their target price on shares of Charles Schwab from $82.00 to $84.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 16th. Finally, Morgan Stanley lifted their target price on shares of Charles Schwab from $68.00 to $74.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $74.18.

Charles Schwab Stock Performance

Charles Schwab stock opened at $80.64 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The company has a market cap of $143.51 billion, a PE ratio of 31.50, a price-to-earnings-growth ratio of 1.76 and a beta of 0.96. The company’s 50-day moving average price is $68.74 and its 200-day moving average price is $69.63. The Charles Schwab Co. has a twelve month low of $55.09 and a twelve month high of $82.50.

Charles Schwab (NYSE:SCHW) last issued 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 business had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.78 billion. Charles Schwab had a net margin of 27.47% and a return on equity of 16.92%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.77 EPS. On average, equities research analysts forecast that The Charles Schwab Co. will post 3.12 EPS for the current fiscal year.

Charles Schwab Announces Dividend

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. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.24%. Charles Schwab’s dividend payout ratio is currently 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.