Grimes & Company Inc. Increases Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Grimes & Company Inc. grew its position in shares of The Charles Schwab Co. (NYSE:SCHW) by 2.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 354,819 shares of the financial services provider’s stock after purchasing an additional 7,197 shares during the quarter. Charles Schwab makes up about 0.8% of Grimes & Company Inc.’s holdings, making the stock its 27th largest position. Grimes & Company Inc.’s holdings in Charles Schwab were worth $25,668,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in SCHW. Investment Research & Advisory Group Inc. grew its holdings in shares of Charles Schwab by 1.0% during the fourth quarter. Investment Research & Advisory Group Inc. now owns 58,979 shares of the financial services provider’s stock worth $4,058,000 after buying an additional 607 shares during the last quarter. Morningstar Investment Services LLC increased its holdings in shares of Charles Schwab by 98.0% in the fourth quarter. Morningstar Investment Services LLC now owns 4,691,362 shares of the financial services provider’s stock valued at $326,284,000 after purchasing an additional 2,322,156 shares during the period. Brown Advisory Inc. raised its stake in shares of Charles Schwab by 24.3% during the fourth quarter. Brown Advisory Inc. now owns 4,393,223 shares of the financial services provider’s stock worth $302,254,000 after purchasing an additional 857,734 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Charles Schwab by 22.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 883,379 shares of the financial services provider’s stock worth $60,776,000 after purchasing an additional 160,719 shares during the last quarter. Finally, Retirement Systems of Alabama lifted its holdings in shares of Charles Schwab by 13.0% during the fourth quarter. Retirement Systems of Alabama now owns 1,329,388 shares of the financial services provider’s stock worth $91,462,000 after purchasing an additional 152,967 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Price Performance

NYSE SCHW traded up $0.13 during trading hours on Friday, reaching $73.69. The company’s stock had a trading volume of 8,997,560 shares, compared to its average volume of 5,743,318. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.42 and a current ratio of 0.42. The company’s 50-day moving average is $74.42 and its two-hundred day moving average is $69.81. The Charles Schwab Co. has a fifty-two week low of $48.66 and a fifty-two week high of $79.49. The stock has a market cap of $130.97 billion, a PE ratio of 30.83, a PEG ratio of 1.14 and a beta of 0.96.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings results on Monday, April 15th. The financial services provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.73 by $0.01. Charles Schwab had a net margin of 26.14% and a return on equity of 19.25%. The business had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.71 billion. Analysts forecast that The Charles Schwab Co. will post 3.25 EPS for the current year.

Charles Schwab Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.36%. The ex-dividend date was Thursday, May 9th. Charles Schwab’s payout ratio is 41.84%.

Insider Transactions at Charles Schwab

In related news, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $72.49, for a total transaction of $652,410.00. Following the sale, the director now owns 570,657 shares of the company’s stock, valued at $41,366,925.93. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Charles Schwab news, Chairman Charles R. Schwab sold 89,275 shares of the business’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $74.62, for a total value of $6,661,700.50. Following the completion of the transaction, the chairman now directly owns 30,641,981 shares in the company, valued at approximately $2,286,504,622.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $72.49, for a total value of $652,410.00. Following the sale, the director now owns 570,657 shares in the company, valued at approximately $41,366,925.93. The disclosure for this sale can be found here. Insiders sold a total of 658,663 shares of company stock valued at $48,997,146 over the last three months. 6.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on SCHW. Keefe, Bruyette & Woods restated a “market perform” rating and set a $76.00 price objective on shares of Charles Schwab in a research report on Monday, June 17th. JPMorgan Chase & Co. cut their price target on shares of Charles Schwab from $89.00 to $81.00 and set an “overweight” rating for the company in a report on Friday, May 31st. UBS Group lifted their price objective on Charles Schwab from $87.00 to $91.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. JMP Securities reissued a “market outperform” rating and set a $80.00 target price on shares of Charles Schwab in a research note on Tuesday, May 28th. Finally, Citigroup raised their price target on Charles Schwab from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $75.56.

Charles Schwab Profile

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.