Shares of Charles Schwab Co. (NYSE:SCHW) have been given an average rating of “Buy” by the sixteen analysts that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and ten have issued a buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $53.22.
SCHW has been the topic of a number of research analyst reports. UBS Group downgraded Charles Schwab from a “neutral” rating to a “sell” rating and lowered their price target for the company from $48.00 to $42.00 in a report on Wednesday, February 20th. Raymond James lifted their price target on Charles Schwab from $51.00 to $54.00 and gave the company an “outperform” rating in a report on Wednesday, January 16th. Wells Fargo & Co lowered their price target on Charles Schwab from $53.00 to $44.00 and set a “market perform” rating on the stock in a report on Friday, January 4th. Morgan Stanley reduced their price objective on Charles Schwab from $60.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, January 4th. Finally, Credit Suisse Group lifted their price objective on Charles Schwab from $50.00 to $54.00 and gave the company an “outperform” rating in a research report on Thursday, January 17th.
Shares of NYSE SCHW opened at $44.26 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.83 and a current ratio of 1.08. The firm has a market capitalization of $59.07 billion, a P/E ratio of 18.07, a P/E/G ratio of 1.42 and a beta of 1.32. Charles Schwab has a 52-week low of $37.83 and a 52-week high of $60.22.
Charles Schwab announced that its Board of Directors has authorized a share repurchase program on Wednesday, January 30th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 6.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
In related news, Chairman Charles R. Schwab sold 250,000 shares of the business’s stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $47.04, for a total transaction of $11,760,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Marie A. Chandoha sold 45,046 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $45.48, for a total value of $2,048,692.08. The disclosure for this sale can be found here. Insiders sold 356,416 shares of company stock valued at $16,652,483 in the last ninety days. Insiders own 10.90% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in SCHW. Vanguard Group Inc lifted its stake in shares of Charles Schwab by 0.9% in the 3rd quarter. Vanguard Group Inc now owns 88,586,138 shares of the financial services provider’s stock valued at $4,354,008,000 after purchasing an additional 820,257 shares during the period. Northern Trust Corp lifted its stake in shares of Charles Schwab by 2.1% in the 4th quarter. Northern Trust Corp now owns 16,655,792 shares of the financial services provider’s stock valued at $691,715,000 after purchasing an additional 336,557 shares during the period. Parnassus Investments CA lifted its stake in shares of Charles Schwab by 22.3% in the 4th quarter. Parnassus Investments CA now owns 15,623,778 shares of the financial services provider’s stock valued at $648,856,000 after purchasing an additional 2,850,678 shares during the period. Harris Associates L P lifted its stake in shares of Charles Schwab by 197.1% in the 4th quarter. Harris Associates L P now owns 13,940,097 shares of the financial services provider’s stock valued at $578,932,000 after purchasing an additional 9,248,471 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Charles Schwab by 5.9% in the 4th quarter. Geode Capital Management LLC now owns 13,627,245 shares of the financial services provider’s stock valued at $564,801,000 after purchasing an additional 758,069 shares during the period. Institutional investors own 80.06% of the company’s stock.
Charles Schwab Company Profile
The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.
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