Grimes & Company Inc. Has $1.38 Million Stock Position in The Charles Schwab Corporation (NYSE:SCHW)

Grimes & Company Inc. lessened its stake in The Charles Schwab Corporation (NYSE:SCHW) by 50.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,587 shares of the financial services provider’s stock after selling 17,789 shares during the quarter. Grimes & Company Inc.’s holdings in Charles Schwab were worth $1,377,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SCHW. QRG Capital Management Inc. boosted its position in shares of Charles Schwab by 1.4% during the first quarter. QRG Capital Management Inc. now owns 27,074 shares of the financial services provider’s stock worth $2,119,000 after buying an additional 375 shares during the period. Sagespring Wealth Partners LLC raised its position in Charles Schwab by 43.3% in the 1st quarter. Sagespring Wealth Partners LLC now owns 9,036 shares of the financial services provider’s stock valued at $707,000 after buying an additional 2,732 shares during the last quarter. Great Lakes Retirement Inc. lifted its stake in Charles Schwab by 2.2% in the 1st quarter. Great Lakes Retirement Inc. now owns 145,184 shares of the financial services provider’s stock valued at $11,365,000 after acquiring an additional 3,139 shares in the last quarter. Sowell Financial Services LLC acquired a new position in Charles Schwab during the 1st quarter worth approximately $533,000. Finally, Mission Wealth Management LP grew its stake in shares of Charles Schwab by 9.8% during the 1st quarter. Mission Wealth Management LP now owns 6,862 shares of the financial services provider’s stock worth $537,000 after acquiring an additional 615 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Wall Street Analyst Weigh In

SCHW has been the subject of several analyst reports. Cowen restated a “buy” rating on shares of Charles Schwab in a report on Tuesday, May 20th. Wells Fargo & Company lowered their price target on Charles Schwab from $93.00 to $87.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Redburn Atlantic raised Charles Schwab from a “sell” rating to a “neutral” rating and increased their price objective for the company from $65.00 to $82.00 in a report on Monday, June 9th. TD Cowen raised shares of Charles Schwab from a “hold” rating to a “buy” rating and raised their target price for the company from $88.00 to $103.00 in a research note on Tuesday, February 18th. Finally, The Goldman Sachs Group upgraded shares of Charles Schwab from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Friday, April 25th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.40.

Charles Schwab Stock Performance

Shares of NYSE:SCHW opened at $88.95 on Wednesday. The Charles Schwab Corporation has a 1 year low of $61.01 and a 1 year high of $89.85. The stock has a market capitalization of $161.61 billion, a price-to-earnings ratio of 26.95, a price-to-earnings-growth ratio of 0.95 and a beta of 0.94. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.53 and a quick ratio of 0.53. The company’s 50 day simple moving average is $83.96 and its 200 day simple moving average is $79.94.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.03. Charles Schwab had a return on equity of 18.31% and a net margin of 31.71%. The business had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.46 billion. During the same period in the prior year, the company earned $0.74 EPS. As a group, research analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current fiscal year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.08 annualized dividend and a dividend yield of 1.21%. Charles Schwab’s dividend payout ratio (DPR) is presently 32.73%.

Insider Activity

In related news, insider Jonathan S. Beatty sold 2,850 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $87.57, for a total value of $249,574.50. Following the completion of the sale, the insider now directly owns 15,219 shares in the company, valued at $1,332,727.83. This represents a 15.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul V. Woolway sold 8,614 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $80.00, for a total value of $689,120.00. Following the transaction, the insider now directly owns 49,204 shares of the company’s stock, valued at approximately $3,936,320. This represents a 14.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 97,608 shares of company stock worth $8,392,040. Insiders own 6.30% 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.