Charles Schwab (NYSE:SCHW) had its price objective raised by equities researchers at Morgan Stanley from $61.00 to $63.00 in a research report issued on Tuesday. The firm currently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s price target would suggest a potential upside of 16.93% from the company’s previous close.
Several other research analysts have also recently issued reports on SCHW. SunTrust Banks upped their price objective on Charles Schwab to $56.00 and gave the stock an “average” rating in a research report on Friday, December 15th. They noted that the move was a valuation call. Argus upped their price objective on Charles Schwab from $59.00 to $69.00 and gave the stock a “buy” rating in a research report on Thursday, January 18th. Credit Suisse Group reaffirmed a “buy” rating and set a $64.00 price objective (up from $55.00) on shares of Charles Schwab in a research report on Friday, January 12th. Citigroup reaffirmed a “buy” rating and set a $60.00 price objective (up from $52.00) on shares of Charles Schwab in a research report on Tuesday, January 9th. Finally, BidaskClub cut Charles Schwab from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 17th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $54.63.
Charles Schwab (NYSE:SCHW) traded down $0.17 on Tuesday, reaching $53.88. The company had a trading volume of 1,551,282 shares, compared to its average volume of 6,666,744. Charles Schwab has a 1 year low of $37.16 and a 1 year high of $56.25. The firm has a market cap of $72,753.06, a PE ratio of 33.34, a price-to-earnings-growth ratio of 1.33 and a beta of 1.75. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.31 and a quick ratio of 0.30.
In other news, insider Walter W. Bettinger bought 72,510 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The stock was purchased at an average cost of $27.21 per share, with a total value of $1,972,997.10. Following the transaction, the insider now directly owns 41,330 shares in the company, valued at $1,124,589.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Terri R. Kallsen sold 1,981 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $44.18, for a total value of $87,520.58. Following the sale, the executive vice president now directly owns 5,212 shares of the company’s stock, valued at $230,266.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,212,129 shares of company stock valued at $110,189,152. Insiders own 12.00% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Edgewood Management LLC raised its stake in Charles Schwab by 8.4% during the 3rd quarter. Edgewood Management LLC now owns 20,125,345 shares of the financial services provider’s stock valued at $880,283,000 after acquiring an additional 1,559,733 shares during the last quarter. Jackson Square Partners LLC raised its stake in Charles Schwab by 13.8% during the 3rd quarter. Jackson Square Partners LLC now owns 10,807,952 shares of the financial services provider’s stock valued at $472,739,000 after acquiring an additional 1,307,627 shares during the last quarter. Janus Henderson Group PLC raised its stake in Charles Schwab by 1,766.9% during the 2nd quarter. Janus Henderson Group PLC now owns 9,357,736 shares of the financial services provider’s stock valued at $402,011,000 after acquiring an additional 8,856,483 shares during the last quarter. Ruane Cunniff & Goldfarb Inc. raised its stake in Charles Schwab by 1.6% during the 3rd quarter. Ruane Cunniff & Goldfarb Inc. now owns 8,348,548 shares of the financial services provider’s stock valued at $365,165,000 after acquiring an additional 133,869 shares during the last quarter. Finally, Bamco Inc. NY raised its stake in Charles Schwab by 1.6% during the 3rd quarter. Bamco Inc. NY now owns 6,702,472 shares of the financial services provider’s stock valued at $293,166,000 after acquiring an additional 107,596 shares during the last quarter. 79.63% of the stock is owned by hedge funds and other institutional investors.
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Charles Schwab Company Profile
The Charles Schwab Corporation (CSC) is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, money management and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services and Advisor Services.
