Charles Schwab (NYSE:SCHW) Hits New 52-Week High at $76.47

The Charles Schwab Co. (NYSE:SCHW) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $76.47 and last traded at $75.88, with a volume of 1193917 shares changing hands. The stock had previously closed at $75.33.

Wall Street Analyst Weigh In

SCHW has been the subject of a number of recent analyst reports. Barclays upped their target price on Charles Schwab from $74.00 to $75.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 16th. Bank of America upped their price objective on shares of Charles Schwab from $68.00 to $70.00 and gave the stock an “underperform” rating in a research report on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Charles Schwab from $75.00 to $77.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. JMP Securities restated a “market outperform” rating and set a $80.00 price objective on shares of Charles Schwab in a research report on Tuesday, April 16th. Finally, Citigroup lifted their price target on Charles Schwab from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $74.47.

Charles Schwab Trading Up 0.9 %

The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a 50 day simple moving average of $70.52 and a two-hundred day simple moving average of $64.48. The firm has a market capitalization of $135.05 billion, a P/E ratio of 31.82, a PEG ratio of 1.09 and a beta of 0.98.

Charles Schwab Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.32%. The ex-dividend date is Thursday, May 9th. Charles Schwab’s dividend payout ratio is presently 41.84%.

Insiders Place Their Bets

In related news, insider Nigel J. Murtagh sold 29,991 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $67.80, for a total transaction of $2,033,389.80. Following the completion of the transaction, the insider now owns 81,446 shares in the company, valued at $5,522,038.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CFO Peter B. Crawford sold 8,000 shares of Charles Schwab stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $64.76, for a total value of $518,080.00. Following the completion of the sale, the chief financial officer now owns 29,611 shares of the company’s stock, valued at approximately $1,917,608.36. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Nigel J. Murtagh sold 29,991 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $67.80, for a total transaction of $2,033,389.80. Following the sale, the insider now directly owns 81,446 shares in the company, valued at $5,522,038.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 514,459 shares of company stock valued at $36,371,155. Insiders own 6.60% of the company’s stock.

Institutional Trading of Charles Schwab

Several hedge funds and other institutional investors have recently modified their holdings of SCHW. Robeco Institutional Asset Management B.V. grew its holdings in Charles Schwab by 27.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 131,076 shares of the financial services provider’s stock valued at $7,196,000 after buying an additional 28,241 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in Charles Schwab by 21.0% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 794,584 shares of the financial services provider’s stock worth $43,623,000 after purchasing an additional 138,085 shares in the last quarter. Simon Quick Advisors LLC boosted its holdings in Charles Schwab by 9.6% in the 3rd quarter. Simon Quick Advisors LLC now owns 4,614 shares of the financial services provider’s stock valued at $253,000 after purchasing an additional 404 shares during the period. Stratos Wealth Partners LTD. grew its position in shares of Charles Schwab by 15.2% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 53,822 shares of the financial services provider’s stock valued at $2,955,000 after purchasing an additional 7,117 shares in the last quarter. Finally, Stratos Wealth Advisors LLC bought a new position in shares of Charles Schwab in the third quarter worth $216,000. Institutional investors own 84.38% of the company’s stock.

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.