Charles Schwab (NYSE:SCHW) Price Target Increased to $74.00 by Analysts at The Goldman Sachs Group

Charles Schwab (NYSE:SCHW) had its price target hoisted by equities research analysts at The Goldman Sachs Group from $67.00 to $74.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 1.86% from the stock’s previous close.

SCHW has been the topic of several other reports. Wells Fargo & Company assumed coverage on shares of Charles Schwab in a research report on Thursday, September 12th. They set an “equal weight” rating and a $70.00 price objective on the stock. Barclays lowered their price target on Charles Schwab from $77.00 to $68.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 17th. Morgan Stanley reduced their price objective on Charles Schwab from $70.00 to $68.00 and set an “equal weight” rating for the company in a research note on Monday, October 7th. TD Cowen reiterated a “hold” rating and issued a $71.00 target price (down from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Finally, Raymond James cut their price target on Charles Schwab from $76.00 to $73.00 in a research note on Tuesday. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Charles Schwab currently has an average rating of “Hold” and a consensus target price of $72.65.

Charles Schwab Stock Up 1.0 %

Charles Schwab stock opened at $72.65 on Wednesday. The stock has a 50-day simple moving average of $64.42 and a 200-day simple moving average of $69.49. The company has a market capitalization of $129.20 billion, a P/E ratio of 29.92, a PEG ratio of 1.43 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 has a fifty-two week low of $48.66 and a fifty-two week high of $79.49.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. The company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Charles Schwab had a return on equity of 18.14% and a net margin of 26.30%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.77 earnings per share. Equities research analysts expect that Charles Schwab will post 3.06 earnings per share for the current year.

Insider Transactions at Charles Schwab

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $61.96, for a total value of $557,640.00. Following the completion of the transaction, the director now directly owns 567,057 shares of the company’s stock, valued at $35,134,851.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $61.96, for a total value of $557,640.00. Following the sale, the director now directly owns 567,057 shares of the company’s stock, valued at approximately $35,134,851.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul V. Woolway sold 1,150 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $65.20, for a total transaction of $74,980.00. Following the transaction, the insider now owns 61,887 shares of the company’s stock, valued at $4,035,032.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 98,856 shares of company stock valued at $6,398,604 in the last quarter. 6.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Charles Schwab

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Charles Schwab by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 120,963,133 shares of the financial services provider’s stock worth $8,750,473,000 after purchasing an additional 1,042,823 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Charles Schwab by 4.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 72,306,560 shares of the financial services provider’s stock worth $5,230,657,000 after acquiring an additional 2,946,327 shares during the period. Legal & General Group Plc grew its stake in Charles Schwab by 2.1% in the 2nd quarter. Legal & General Group Plc now owns 10,886,058 shares of the financial services provider’s stock worth $802,193,000 after acquiring an additional 225,397 shares during the period. Allen Investment Management LLC lifted its holdings in shares of Charles Schwab by 3.0% during the 2nd quarter. Allen Investment Management LLC now owns 8,712,364 shares of the financial services provider’s stock worth $642,014,000 after acquiring an additional 251,485 shares during the period. Finally, Lazard Asset Management LLC increased its position in Charles Schwab by 8.9% during the first quarter. Lazard Asset Management LLC now owns 7,305,050 shares of the financial services provider’s stock worth $528,445,000 after purchasing an additional 596,589 shares during the last quarter. 84.38% of the stock is currently 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.