Charles Schwab (NYSE:SCHW) PT Lowered to $46.00 at Morgan Stanley

Charles Schwab (NYSE:SCHW) had its price objective reduced by Morgan Stanley from $53.00 to $46.00 in a report issued on Thursday, BenzingaRatingsTable reports. They currently have an overweight rating on the financial services provider’s stock.

SCHW has been the subject of a number of other reports. Deutsche Bank reiterated a buy rating and issued a GBX 4,000 ($52.27) price objective on shares of in a research report on Tuesday, June 18th. Wells Fargo & Co reiterated a hold rating on shares of AON in a research report on Friday, April 5th. Citigroup lowered Apergy from a buy rating to a neutral rating and lowered their price objective for the stock from $41.00 to $34.00 in a research report on Tuesday, July 9th. ValuEngine lowered Virtu Financial from a hold rating to a sell rating in a research report on Tuesday, June 18th. Finally, JPMorgan Chase & Co. set a $44.00 price objective on Charles Schwab and gave the stock a buy rating in a research report on Friday, June 21st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $48.53.

Shares of SCHW stock opened at $40.13 on Thursday. The stock has a 50-day moving average price of $41.43. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.33 and a current ratio of 0.33. The firm has a market capitalization of $54.01 billion, a price-to-earnings ratio of 15.62, a price-to-earnings-growth ratio of 1.89 and a beta of 1.23. Charles Schwab has a 12 month low of $37.83 and a 12 month high of $54.26.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Monday, April 15th. The financial services provider reported $0.69 EPS for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.03. The firm had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.67 billion. Charles Schwab had a return on equity of 20.47% and a net margin of 35.27%. The company’s revenue was up 13.6% on a year-over-year basis. During the same period last year, the company earned $0.55 earnings per share. On average, analysts expect that Charles Schwab will post 2.72 EPS for the current year.

In other Charles Schwab news, Director Charles A. Ruffel acquired 2,500 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was acquired at an average cost of $46.10 per share, for a total transaction of $115,250.00. Following the transaction, the director now owns 788 shares of the company’s stock, valued at $36,326.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Charles R. Schwab sold 250,000 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $45.29, for a total value of $11,322,500.00. The disclosure for this sale can be found here. Insiders sold a total of 841,576 shares of company stock valued at $38,416,671 over the last quarter. 10.90% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SCHW. Kaizen Advisory LLC raised its stake in shares of Charles Schwab by 8.0% during the 4th quarter. Kaizen Advisory LLC now owns 3,217 shares of the financial services provider’s stock worth $134,000 after purchasing an additional 237 shares in the last quarter. ETF Managers Group LLC raised its stake in shares of Charles Schwab by 10.3% during the 1st quarter. ETF Managers Group LLC now owns 2,753 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 258 shares in the last quarter. Rehmann Capital Advisory Group raised its stake in shares of Charles Schwab by 3.6% during the 1st quarter. Rehmann Capital Advisory Group now owns 7,400 shares of the financial services provider’s stock worth $316,000 after purchasing an additional 260 shares in the last quarter. Gs Investments Inc. raised its stake in shares of Charles Schwab by 0.5% during the 1st quarter. Gs Investments Inc. now owns 50,650 shares of the financial services provider’s stock worth $2,166,000 after purchasing an additional 265 shares in the last quarter. Finally, Belpointe Asset Management LLC raised its stake in shares of Charles Schwab by 3.3% during the 4th quarter. Belpointe Asset Management LLC now owns 9,406 shares of the financial services provider’s stock worth $391,000 after purchasing an additional 298 shares in the last quarter. Hedge funds and other institutional investors own 78.92% of the company’s stock.

About Charles Schwab

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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