Redburn Partners Cuts Charles Schwab (NYSE:SCHW) Price Target to $68.00

Charles Schwab (NYSE:SCHW) had its price target reduced by Redburn Partners from $70.00 to $68.00 in a research note released on Friday. They currently have a sell rating on the financial services provider’s stock.

Several other brokerages have also recently commented on SCHW. Jefferies Financial Group lifted their price objective on shares of Charles Schwab from $84.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, December 9th. The Goldman Sachs Group upped their price target on shares of Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft lifted their price objective on Charles Schwab from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Wells Fargo & Company lowered their target price on Charles Schwab from $90.00 to $89.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Finally, Morgan Stanley lifted their price target on Charles Schwab from $74.00 to $84.00 and gave the company an “equal weight” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus 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 business has a 50-day moving average price of $77.68 and a 200-day moving average price of $70.63. The stock has a market cap of $136.20 billion, a price-to-earnings ratio of 29.90, a PEG ratio of 1.19 and a beta of 0.99. Charles Schwab has a 52-week low of $61.01 and a 52-week high of $83.35. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab Announces Dividend

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

Insider Transactions at Charles Schwab

In related news, insider Nigel J. Murtagh sold 12,739 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $81.17, for a total transaction of $1,034,024.63. Following the transaction, the insider now directly owns 59,092 shares in the company, valued at approximately $4,796,497.64. The trade was a 17.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jonathan S. Beatty sold 2,300 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $82.01, for a total transaction of $188,623.00. Following the completion of the sale, the insider now owns 18,069 shares of the company’s stock, valued at approximately $1,481,838.69. The trade was a 11.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,823 shares of company stock valued at $2,171,194 over the last 90 days. Corporate insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Charles Schwab

A number of large investors have recently made changes to their positions in SCHW. State Street Corp boosted its stake in Charles Schwab by 0.7% during the third quarter. State Street Corp now owns 62,076,447 shares of the financial services provider’s stock worth $4,023,175,000 after buying an additional 414,949 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Charles Schwab by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 30,141,441 shares of the financial services provider’s stock valued at $1,945,614,000 after acquiring an additional 445,304 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Charles Schwab by 6.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock valued at $1,858,706,000 after purchasing an additional 1,711,312 shares during the period. Franklin Resources Inc. increased its position in 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 worth $1,644,674,000 after purchasing an additional 3,157,923 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in Charles Schwab by 2.5% during the third quarter. Fisher Asset Management LLC now owns 20,189,558 shares of the financial services provider’s stock worth $1,308,485,000 after purchasing an additional 493,264 shares during the period. 84.38% of the stock is currently owned by hedge funds and other institutional investors.

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.