Grimes & Company Inc. Sells 17,789 Shares of The Charles Schwab Corporation (NYSE:SCHW)

Grimes & Company Inc. decreased its holdings in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 50.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Charles Schwab by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 128,578,230 shares of the financial services provider's stock valued at $9,516,075,000 after acquiring an additional 1,187,384 shares during the period. Geode Capital Management LLC raised its position in shares of Charles Schwab by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 30,901,484 shares of the financial services provider's stock valued at $2,279,742,000 after purchasing an additional 760,043 shares during the period. Fisher Asset Management LLC lifted its stake in shares of Charles Schwab by 1.3% during the 4th quarter. Fisher Asset Management LLC now owns 20,455,266 shares of the financial services provider's stock worth $1,513,894,000 after buying an additional 265,708 shares during the last quarter. Norges Bank acquired a new stake in shares of Charles Schwab during the 4th quarter worth about $1,289,544,000. Finally, Northern Trust Corp boosted its holdings in shares of Charles Schwab by 13.4% during the 4th quarter. Northern Trust Corp now owns 15,739,917 shares of the financial services provider's stock worth $1,164,911,000 after buying an additional 1,864,286 shares during the period. Institutional investors own 84.38% of the company's stock.

Insider Buying and Selling at Charles Schwab

In other Charles Schwab news, insider Paul V. Woolway sold 3,290 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $87.68, for a total transaction of $288,467.20. Following the sale, the insider now owns 39,154 shares of the company's stock, valued at approximately $3,433,022.72. This represents a 7.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jonathan M. Craig sold 9,559 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $82.00, for a total value of $783,838.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 97,608 shares of company stock valued at $8,392,040. 6.30% of the stock is currently owned by company insiders.

Charles Schwab Trading Up 1.1%

NYSE:SCHW traded up $0.94 during mid-day trading on Thursday, hitting $89.90. 8,081,605 shares of the company's stock were exchanged, compared to its average volume of 9,437,175. The firm has a market capitalization of $163.35 billion, a P/E ratio of 27.24, a PEG ratio of 0.95 and a beta of 0.94. The company has a 50 day simple moving average of $84.24 and a 200-day simple moving average of $80.01. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.53. The Charles Schwab Corporation has a fifty-two week low of $61.01 and a fifty-two week high of $90.19.

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

Charles Schwab Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.20%. The ex-dividend date was Friday, May 9th. Charles Schwab's payout ratio is presently 32.73%.

Analysts Set New Price Targets

A number of brokerages recently commented on SCHW. Truist Financial raised their price target on Charles Schwab from $97.00 to $100.00 and gave the stock a "buy" rating in a research report on Monday. JPMorgan Chase & Co. raised their target price on shares of Charles Schwab from $92.00 to $95.00 and gave the company an "overweight" rating in a report on Monday, April 21st. Piper Sandler boosted their target price on shares of Charles Schwab from $74.00 to $80.00 in a research report on Thursday, April 17th. UBS Group upped their price target on shares of Charles Schwab from $95.00 to $96.00 and gave the stock a "buy" rating in a report on Tuesday, April 22nd. Finally, The Goldman Sachs Group raised shares of Charles Schwab from a "neutral" rating to a "buy" rating and set a $100.00 price objective on the stock in a research note on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $89.40.

Charles Schwab Company 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.