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

Grimes & Company Inc. trimmed its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW) by 50.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,587 shares of the financial services provider’s stock after selling 17,789 shares during the period. Grimes & Company Inc.’s holdings in Charles Schwab were worth $1,377,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the stock. QRG Capital Management Inc. boosted its stake in 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 acquiring an additional 375 shares in the last quarter. Sagespring Wealth Partners LLC increased its stake in Charles Schwab by 43.3% in the first quarter. Sagespring Wealth Partners LLC now owns 9,036 shares of the financial services provider’s stock valued at $707,000 after purchasing an additional 2,732 shares in the last quarter. Great Lakes Retirement Inc. raised its holdings in shares of Charles Schwab by 2.2% during the first quarter. Great Lakes Retirement Inc. now owns 145,184 shares of the financial services provider’s stock valued at $11,365,000 after purchasing an additional 3,139 shares during the period. Sowell Financial Services LLC bought a new position in shares of Charles Schwab during the 1st quarter worth about $533,000. Finally, Mission Wealth Management LP boosted its position 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 purchasing an additional 615 shares in the last quarter. Institutional investors own 84.38% of the company’s stock.

Charles Schwab Stock Down 0.0%

SCHW opened at $88.95 on Wednesday. The Charles Schwab Corporation has a fifty-two week low of $61.01 and a fifty-two week high of $89.85. The firm has a market capitalization of $161.61 billion, a P/E ratio of 26.95, a PEG ratio of 0.95 and a beta of 0.94. The company’s 50-day moving average is $83.96 and its 200 day moving average is $79.94. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.53 and a quick ratio of 0.53.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 EPS for the quarter, beating the consensus estimate of $1.01 by $0.03. Charles Schwab had a net margin of 31.71% and a return on equity of 18.31%. The firm had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.46 billion. During the same quarter last year, the business posted $0.74 EPS. Research analysts expect that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date was Friday, May 9th. Charles Schwab’s payout ratio is 32.73%.

Insider Buying and Selling

In other Charles Schwab news, Director Frank C. Herringer sold 3,592 shares of the business’s stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $74.26, for a total value of $266,741.92. Following the transaction, the director now directly owns 172,162 shares in the company, valued at $12,784,750.12. The trade was a 2.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jonathan M. Craig sold 47,500 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $88.46, for a total transaction of $4,201,850.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 97,608 shares of company stock worth $8,392,040. 6.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Morgan Stanley boosted their target price on Charles Schwab from $76.00 to $83.00 and gave the company an “overweight” rating in a research report on Tuesday, May 13th. UBS Group boosted their price objective on Charles Schwab from $95.00 to $96.00 and gave the company a “buy” rating in a report on Tuesday, April 22nd. Keefe, Bruyette & Woods upped their target price on Charles Schwab from $90.00 to $93.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. lifted their price target on shares of Charles Schwab from $92.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, April 21st. Finally, Citigroup upgraded shares of Charles Schwab from a “neutral” rating to a “buy” rating and boosted their price target for the company from $85.00 to $102.00 in a research note on Wednesday, April 2nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Charles Schwab has an average rating of “Moderate Buy” and an average target price of $89.40.

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.