Charles Schwab (NYSE:SCHW) Given New $68.00 Price Target at Redburn Partners

Charles Schwab (NYSE:SCHW) had its price target lowered by Redburn Partners from $70.00 to $68.00 in a report issued on Friday. The firm currently has a sell rating on the financial services provider’s stock.

Several other equities analysts also recently commented on the company. The Goldman Sachs Group increased their price target on Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Keefe, Bruyette & Woods lifted their target price on shares of Charles Schwab from $81.00 to $93.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. Citigroup decreased their price target on shares of Charles Schwab from $85.00 to $80.00 and set a “neutral” rating for the company in a report on Friday, January 10th. StockNews.com upgraded Charles Schwab from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, Raymond James decreased their target price on Charles Schwab from $76.00 to $73.00 in a research note on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $81.41.

Charles Schwab Trading Up 1.4 %

Shares of NYSE:SCHW opened at $76.53 on Friday. 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 stock has a market capitalization of $136.20 billion, a PE ratio of 29.90, a P/E/G ratio of 1.19 and a beta of 0.99. Charles Schwab has a 1 year low of $61.01 and a 1 year high of $83.35. The firm has a fifty day moving average price of $77.63 and a 200 day moving average price of $70.63.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.02. Charles Schwab had a return on equity of 16.92% and a net margin of 27.47%. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the prior year, the company posted $0.77 EPS. The firm’s revenue was up 5.2% on a year-over-year basis. Analysts expect that Charles Schwab will post 3.13 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date was Friday, November 8th. Charles Schwab’s payout ratio is 39.06%.

Insider Activity at Charles Schwab

In related news, insider Jonathan S. Beatty sold 2,300 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $82.01, for a total transaction of $188,623.00. Following the completion of the transaction, the insider now owns 18,069 shares in the company, valued at $1,481,838.69. This trade represents a 11.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nigel J. Murtagh sold 12,739 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $81.17, for a total value of $1,034,024.63. Following the completion of the sale, the insider now owns 59,092 shares in the company, valued at $4,796,497.64. This trade represents a 17.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,823 shares of company stock valued at $2,171,194 over the last quarter. 6.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Charles Schwab

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SCHW. Intech Investment Management LLC raised its stake in shares of Charles Schwab by 21.1% in the second quarter. Intech Investment Management LLC now owns 25,194 shares of the financial services provider’s stock valued at $1,857,000 after acquiring an additional 4,395 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in Charles Schwab by 12.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,693,022 shares of the financial services provider’s stock valued at $124,759,000 after purchasing an additional 185,388 shares in the last quarter. Bridges Investment Management Inc. bought a new position in Charles Schwab in the 2nd quarter valued at $1,625,000. King Luther Capital Management Corp boosted its stake in Charles Schwab by 79.4% in the second quarter. King Luther Capital Management Corp now owns 26,492 shares of the financial services provider’s stock worth $1,952,000 after purchasing an additional 11,721 shares in the last quarter. Finally, AE Wealth Management LLC grew its holdings in shares of Charles Schwab by 8.1% during the second quarter. AE Wealth Management LLC now owns 54,686 shares of the financial services provider’s stock worth $4,030,000 after purchasing an additional 4,081 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

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.