Charles Schwab (NYSE:SCHW) Price Target Raised to $84.00

Charles Schwab (NYSE:SCHW) had its price target boosted by Morgan Stanley from $74.00 to $84.00 in a report issued on Friday. They currently have an equal weight rating on the financial services provider’s stock.

Several other research analysts also recently commented on SCHW. JMP Securities reaffirmed a “market outperform” rating and set a $94.00 target price (up from $84.00) on shares of Charles Schwab in a report on Monday, December 9th. Barclays upgraded shares of Charles Schwab from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $74.00 to $95.00 in a report on Monday, December 9th. 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. StockNews.com raised Charles Schwab from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, Cowen lifted their price objective on Charles Schwab from $69.00 to $75.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Charles Schwab presently has a consensus rating of “Hold” and a consensus price target of $81.41.

Charles Schwab Stock Up 1.4 %

Shares of SCHW opened at $76.53 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.47 and a quick ratio of 0.47. Charles Schwab has a one year low of $61.01 and a one year high of $83.35. The company has a market cap of $136.20 billion, a P/E ratio of 29.90, a P/E/G ratio of 1.19 and a beta of 0.99. The firm has a 50 day simple moving average of $77.68 and a two-hundred day simple moving average of $70.63.

Charles Schwab Dividend Announcement

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

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,300 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $82.01, for a total value of $188,623.00. Following the completion of the sale, the insider now directly owns 18,069 shares in the company, valued at $1,481,838.69. This trade represents a 11.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Christopher V. Dodds sold 9,284 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $81.43, for a total value of $755,996.12. Following the transaction, the director now owns 442,807 shares in the company, valued at $36,057,774.01. This trade represents a 2.05 % 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 in the last 90 days. Insiders own 6.60% of the company’s stock.

Institutional Trading of Charles Schwab

Hedge funds have recently modified their holdings of the business. Franklin Resources Inc. lifted its position in Charles Schwab by 15.0% during the 3rd quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock valued at $1,644,674,000 after acquiring an additional 3,157,923 shares during the period. Darsana Capital Partners LP lifted its holdings in shares of Charles Schwab by 200.0% during the second quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the financial services provider’s stock valued at $221,070,000 after purchasing an additional 2,000,000 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Charles Schwab by 6.3% in 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 purchasing an additional 1,711,312 shares in the last quarter. AustralianSuper Pty Ltd grew its stake in shares of Charles Schwab by 2,617.6% in 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 last quarter. Finally, Two Sigma Advisers LP bought a new position in Charles Schwab during the 3rd quarter valued at approximately $86,845,000. Institutional investors own 84.38% of the company’s stock.

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.