The Goldman Sachs Group Cuts Charles Schwab (NYSE:SCHW) Price Target to $67.00

Charles Schwab (NYSE:SCHW) had its target price cut by The Goldman Sachs Group from $71.00 to $67.00 in a report published on Thursday morning, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Other research analysts also recently issued research reports about the company. UBS Group lowered their target price on Charles Schwab from $91.00 to $90.00 and set a buy rating on the stock in a report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Charles Schwab from $79.00 to $80.00 and gave the company a buy rating in a research report on Thursday, August 15th. Barclays decreased their price target on shares of Charles Schwab from $77.00 to $68.00 and set an equal weight rating on the stock in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods reissued an outperform rating and set a $80.00 price objective on shares of Charles Schwab in a research report on Thursday, August 22nd. Finally, JPMorgan Chase & Co. decreased their target price on Charles Schwab from $82.00 to $78.00 and set an overweight rating on the stock in a report on Wednesday, July 17th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $73.31.

Charles Schwab Price Performance

SCHW opened at $64.42 on Thursday. The company’s 50-day simple moving average is $64.10 and its two-hundred day simple moving average is $69.84. Charles Schwab has a 52-week low of $48.66 and a 52-week high of $79.49. The stock has a market capitalization of $114.57 billion, a P/E ratio of 26.95, a P/E/G ratio of 1.21 and a beta of 0.97. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42.

Charles Schwab (NYSE:SCHW) last posted its earnings results on Tuesday, July 16th. The financial services provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.68 billion. Charles Schwab had a net margin of 26.30% and a return on equity of 18.14%. The firm’s revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.75 EPS. As a group, analysts predict that Charles Schwab will post 3.05 EPS for the current year.

Charles Schwab Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.55%. The ex-dividend date was Friday, August 9th. Charles Schwab’s payout ratio is currently 41.84%.

Insider Transactions at Charles Schwab

In related news, insider Jonathan S. Beatty sold 780 shares of the firm’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $75.00, for a total transaction of $58,500.00. Following the completion of the transaction, the insider now directly owns 18,069 shares of the company’s stock, valued at $1,355,175. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Jonathan S. Beatty sold 780 shares of the stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $75.00, for a total transaction of $58,500.00. Following the completion of the transaction, the insider now directly owns 18,069 shares of the company’s stock, valued at $1,355,175. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Walter W. Bettinger acquired 25,000 shares of Charles Schwab stock in a transaction on Wednesday, July 17th. The stock was purchased at an average cost of $66.26 per share, for a total transaction of $1,656,500.00. Following the purchase, the chief executive officer now owns 827,377 shares in the company, valued at $54,822,000.02. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 99,636 shares of company stock valued at $6,457,104. 6.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Charles Schwab

Institutional investors and hedge funds have recently made changes to their positions in the business. Morningstar Investment Services LLC increased its position in shares of Charles Schwab by 98.0% during the 4th quarter. Morningstar Investment Services LLC now owns 4,691,362 shares of the financial services provider’s stock valued at $326,284,000 after purchasing an additional 2,322,156 shares during the last quarter. M&G Plc purchased a new stake in shares of Charles Schwab in the first quarter valued at $11,452,000. Daiwa Securities Group Inc. lifted its holdings in shares of Charles Schwab by 10.4% in the 1st quarter. Daiwa Securities Group Inc. now owns 190,597 shares of the financial services provider’s stock worth $13,788,000 after acquiring an additional 17,925 shares during the last quarter. Wedmont Private Capital boosted its stake in shares of Charles Schwab by 12.2% during the 1st quarter. Wedmont Private Capital now owns 13,130 shares of the financial services provider’s stock worth $949,000 after purchasing an additional 1,430 shares during the period. Finally, Bridgewater Associates LP grew its holdings in Charles Schwab by 217.8% during the 4th quarter. Bridgewater Associates LP now owns 194,339 shares of the financial services provider’s stock valued at $13,371,000 after purchasing an additional 133,186 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.

Charles Schwab Company Profile

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.