Redburn Partners Has Lowered Expectations for Charles Schwab (NYSE:SCHW) Stock Price

Charles Schwab (NYSE:SCHW) had its price objective lowered by investment analysts at Redburn Partners from $70.00 to $68.00 in a report released on Friday. The brokerage currently has a “sell” rating on the financial services provider’s stock. Redburn Partners’ price target suggests a potential downside of 11.15% from the company’s current price.

SCHW has been the topic of several other reports. The Goldman Sachs Group raised their price objective on Charles Schwab from $67.00 to $74.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Bank of America dropped their price target on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 16th. Truist Financial raised shares of Charles Schwab to a “strong-buy” rating in a research report on Monday, January 6th. Citigroup dropped their target price on shares of Charles Schwab from $85.00 to $80.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Finally, Keefe, Bruyette & Woods upped their target price on Charles Schwab from $81.00 to $93.00 and gave the company an “outperform” rating in a report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $81.41.

Charles Schwab Stock Performance

Shares of Charles Schwab stock opened at $76.53 on Friday. Charles Schwab has a 52 week low of $61.01 and a 52 week high of $83.35. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. The business has a 50 day moving average price of $77.68 and a 200-day moving average price of $70.65. The company has a market cap of $136.20 billion, a PE ratio of 29.90, a price-to-earnings-growth ratio of 1.19 and a beta of 0.99.

Insider Transactions at Charles Schwab

In other Charles Schwab news, Director Christopher V. Dodds sold 9,284 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $81.43, for a total value of $755,996.12. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jonathan S. Beatty sold 2,300 shares of Charles Schwab 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 transaction, the insider now directly owns 18,069 shares of the company’s stock, valued at $1,481,838.69. The trade was a 11.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,823 shares of company stock worth $2,171,194 over the last quarter. Corporate insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Charles Schwab

A number of large investors have recently modified their holdings of SCHW. State Street Corp lifted its stake in Charles Schwab by 0.7% in the 3rd quarter. State Street Corp now owns 62,076,447 shares of the financial services provider’s stock worth $4,023,175,000 after purchasing an additional 414,949 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Charles Schwab by 1.5% in the third quarter. Geode Capital Management LLC now owns 30,141,441 shares of the financial services provider’s stock worth $1,945,614,000 after buying an additional 445,304 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Charles Schwab by 6.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 28,679,305 shares of the financial services provider’s stock valued at $1,858,706,000 after buying an additional 1,711,312 shares during the period. Franklin Resources Inc. grew its position in Charles Schwab by 15.0% during the third quarter. Franklin Resources Inc. now owns 24,261,234 shares of the financial services provider’s stock worth $1,644,674,000 after buying an additional 3,157,923 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in Charles Schwab by 2.5% in the 3rd quarter. Fisher Asset Management LLC now owns 20,189,558 shares of the financial services provider’s stock worth $1,308,485,000 after acquiring an additional 493,264 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors.

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.