Grimes & Company Inc. Has $2.49 Million Stock Holdings in The Charles Schwab Co. (NYSE:SCHW)

Grimes & Company Inc. cut its holdings in The Charles Schwab Co. (NYSE:SCHW) by 73.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 38,452 shares of the financial services provider’s stock after selling 104,401 shares during the quarter. Grimes & Company Inc.’s holdings in Charles Schwab were worth $2,492,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of SCHW. M&G Plc bought a new stake in shares of Charles Schwab during the 1st quarter valued at $11,452,000. Teewinot Capital Advisers L.L.C. grew its stake in Charles Schwab by 9.0% during the second quarter. Teewinot Capital Advisers L.L.C. now owns 775,161 shares of the financial services provider’s stock worth $57,122,000 after buying an additional 64,041 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in Charles Schwab by 10.4% in the 1st quarter. Daiwa Securities Group Inc. now owns 190,597 shares of the financial services provider’s stock valued at $13,788,000 after buying an additional 17,925 shares during the period. Iowa State Bank raised its position in Charles Schwab by 37.9% during the third quarter. Iowa State Bank now owns 28,476 shares of the financial services provider’s stock valued at $1,846,000 after purchasing an additional 7,829 shares in the last quarter. Finally, Dudley & Shanley Inc. acquired a new position in Charles Schwab during the 1st quarter worth about $13,650,000. Institutional investors and hedge funds own 84.38% of the company’s stock.

Insider Buying and Selling at Charles Schwab

In related news, Chairman Charles R. Schwab sold 67,386 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total value of $4,387,502.46. Following the completion of the sale, the chairman now owns 60,619,371 shares in the company, valued at $3,946,927,245.81. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Chairman Charles R. Schwab sold 67,386 shares of Charles Schwab stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $65.11, for a total value of $4,387,502.46. Following the transaction, the chairman now owns 60,619,371 shares in the company, valued at $3,946,927,245.81. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total value of $576,450.00. Following the completion of the transaction, the director now owns 554,929 shares in the company, valued at approximately $35,543,202.45. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 182,001 shares of company stock valued at $12,512,592 in the last three months. Company insiders own 6.60% of the company’s stock.

Charles Schwab Stock Performance

SCHW traded up $0.07 during midday trading on Thursday, reaching $71.78. The company had a trading volume of 278,195 shares, compared to its average volume of 8,047,024. The business has a 50-day moving average price of $65.45 and a two-hundred day moving average price of $69.50. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.42 and a current ratio of 0.42. The Charles Schwab Co. has a 12-month low of $48.66 and a 12-month high of $79.49. The stock has a market cap of $127.66 billion, a PE ratio of 28.05, a P/E/G ratio of 1.63 and a beta of 0.97.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.02. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. Charles Schwab had a return on equity of 17.52% and a net margin of 27.47%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.77 EPS. On average, sell-side analysts expect that The Charles Schwab Co. will post 3.11 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.39%. Charles Schwab’s payout ratio is presently 39.06%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SCHW shares. Jefferies Financial Group lowered their price objective on Charles Schwab from $79.00 to $73.00 and set a “buy” rating for the company in a research report on Friday, October 4th. StockNews.com upgraded shares of Charles Schwab from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. JMP Securities upped their price objective on shares of Charles Schwab from $82.00 to $84.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 16th. Wells Fargo & Company lifted their price objective on Charles Schwab from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Finally, TD Cowen restated a “hold” rating and issued a $71.00 target price (down from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Charles Schwab presently has a consensus rating of “Hold” and a consensus target price of $73.59.

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.