GRIMES & Co WEALTH MANAGEMENT LLC Buys 14,649 Shares of The Charles Schwab Corporation $SCHW

GRIMES & Co WEALTH MANAGEMENT LLC increased its stake in The Charles Schwab Corporation (NYSE:SCHW) by 88.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,258 shares of the financial services provider’s stock after purchasing an additional 14,649 shares during the period. GRIMES & Co WEALTH MANAGEMENT LLC’s holdings in Charles Schwab were worth $2,984,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Charles Schwab during the second quarter worth about $1,889,858,000. Brown Advisory Inc. boosted its position in Charles Schwab by 88.4% during the 2nd quarter. Brown Advisory Inc. now owns 12,162,260 shares of the financial services provider’s stock worth $1,109,687,000 after acquiring an additional 5,708,208 shares during the last quarter. Primecap Management Co. CA grew its stake in shares of Charles Schwab by 35.9% during the 2nd quarter. Primecap Management Co. CA now owns 19,034,806 shares of the financial services provider’s stock worth $1,736,736,000 after acquiring an additional 5,032,728 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Charles Schwab by 28.3% in the second quarter. Bank of New York Mellon Corp now owns 14,182,132 shares of the financial services provider’s stock valued at $1,293,978,000 after purchasing an additional 3,125,179 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Charles Schwab by 1.9% in the second quarter. Vanguard Group Inc. now owns 151,182,081 shares of the financial services provider’s stock worth $13,793,853,000 after purchasing an additional 2,786,829 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Trading Down 0.8%

Shares of Charles Schwab stock opened at $101.07 on Wednesday. The Charles Schwab Corporation has a 52-week low of $65.88 and a 52-week high of $104.76. The stock has a market cap of $179.59 billion, a PE ratio of 23.67, a PEG ratio of 0.71 and a beta of 0.94. The firm has a 50-day moving average of $96.65 and a 200-day moving average of $95.30. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.58 and a current ratio of 0.58.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.06. Charles Schwab had a net margin of 35.93% and a return on equity of 21.02%. The business had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $5.93 billion. During the same quarter in the previous year, the company earned $0.71 EPS. The business’s revenue was up 26.6% on a year-over-year basis. As a group, sell-side analysts forecast that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, November 14th. Charles Schwab’s payout ratio is 25.29%.

Insider Transactions at Charles Schwab

In other Charles Schwab news, insider Jonathan S. Beatty sold 2,000 shares of the firm’s stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $102.01, for a total transaction of $204,020.00. Following the transaction, the insider owned 11,923 shares in the company, valued at $1,216,265.23. This trade represents a 14.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. BMO Capital Markets assumed coverage on shares of Charles Schwab in a research report on Friday, October 3rd. They issued an “outperform” rating and a $110.00 target price for the company. TD Cowen raised their price objective on Charles Schwab from $129.00 to $134.00 and gave the company a “buy” rating in a report on Friday, October 17th. JPMorgan Chase & Co. upped their target price on Charles Schwab from $119.00 to $121.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Cowen restated a “buy” rating on shares of Charles Schwab in a research note on Friday, October 17th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $114.00 price target on shares of Charles Schwab in a research report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $111.57.

Charles Schwab Company Profile

Charles Schwab Corporation (NYSE: SCHW) is a diversified financial services firm that provides brokerage, banking, wealth management and advisory services to individual investors, independent investment advisors and institutional clients. Its primary offerings include retail brokerage accounts, online trading platforms, Schwab-branded mutual funds and exchange-traded funds (ETFs), retirement plan services, custodial services for independent Registered Investment Advisors (RIAs), and banking products through Charles Schwab Bank.