Grimes & Company Inc. Has $25.67 Million Stock Position in The Charles Schwab Co. (NYSE:SCHW)

Grimes & Company Inc. increased its position in The Charles Schwab Co. (NYSE:SCHW) by 2.1% in the first quarter, Holdings Channel.com reports. The firm owned 354,819 shares of the financial services provider’s stock after acquiring an additional 7,197 shares during the period. Charles Schwab comprises approximately 0.8% of Grimes & Company Inc.’s portfolio, making the stock its 27th largest holding. 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 large investors also recently added to or reduced their stakes in SCHW. Sugarloaf Wealth Management LLC grew its position in shares of Charles Schwab by 60.0% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 440 shares of the financial services provider’s stock worth $30,000 after buying an additional 165 shares during the period. Frazier Financial Advisors LLC acquired a new position in shares of Charles Schwab in the 4th quarter valued at $30,000. Wetzel Investment Advisors Inc. acquired a new stake in Charles Schwab during the 4th quarter worth $31,000. Hall Laurie J Trustee acquired a new position in Charles Schwab in the fourth quarter valued at about $34,000. Finally, Glass Jacobson Investment Advisors llc raised its position in shares of Charles Schwab by 81.0% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 599 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 268 shares during the period. 84.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on SCHW. JPMorgan Chase & Co. dropped their target price on shares of Charles Schwab from $89.00 to $81.00 and set an “overweight” rating on the stock in a report on Friday, May 31st. UBS Group increased their target price on Charles Schwab from $87.00 to $91.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $76.00 price objective on shares of Charles Schwab in a research report on Monday, June 17th. Bank of America boosted their target price on Charles Schwab from $68.00 to $70.00 and gave the company an “underperform” rating in a research note on Tuesday, April 16th. Finally, Citigroup boosted their price objective on shares of Charles Schwab from $70.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $75.56.

Insider Buying and Selling

In other Charles Schwab news, General Counsel Peter J. Morgan III sold 24,520 shares of the company’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $72.23, for a total value of $1,771,079.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Charles Schwab news, General Counsel Peter J. Morgan III sold 24,520 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $72.23, for a total transaction of $1,771,079.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Peter B. Crawford sold 5,482 shares of Charles Schwab stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $73.46, for a total transaction of $402,707.72. Following the completion of the sale, the chief financial officer now owns 60,567 shares of the company’s stock, valued at $4,449,251.82. The disclosure for this sale can be found here. In the last ninety days, insiders sold 658,663 shares of company stock valued at $48,997,146. Insiders own 6.60% of the company’s stock.

Charles Schwab Stock Performance

Charles Schwab stock traded up $0.13 during mid-day trading on Friday, hitting $73.69. 8,997,560 shares of the company’s stock traded hands, compared to its average volume of 5,743,318. 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 price-to-earnings ratio of 30.83, a P/E/G ratio of 1.14 and a beta of 0.96. The firm has a 50 day simple moving average of $74.42 and a two-hundred day simple moving average of $69.81. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.42 and a quick ratio of 0.42.

Charles Schwab (NYSE:SCHW) last announced its earnings results on Monday, April 15th. The financial services provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.73 by $0.01. The business had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.71 billion. Charles Schwab had a net margin of 26.14% and a return on equity of 19.25%. On average, research analysts expect that The Charles Schwab Co. will post 3.25 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.36%. Charles Schwab’s dividend payout ratio (DPR) is currently 41.84%.

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.