GRIMES & Co WEALTH MANAGEMENT LLC Has $2.98 Million Stock Holdings in The Charles Schwab Corporation $SCHW

GRIMES & Co WEALTH MANAGEMENT LLC increased its position in shares of The Charles Schwab Corporation (NYSE:SCHW) by 88.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,258 shares of the financial services provider’s stock after purchasing an additional 14,649 shares during the quarter. GRIMES & Co WEALTH MANAGEMENT LLC’s holdings in Charles Schwab were worth $2,984,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in SCHW. Bogart Wealth LLC increased its holdings in shares of Charles Schwab by 38.3% during the third quarter. Bogart Wealth LLC now owns 451 shares of the financial services provider’s stock worth $43,000 after buying an additional 125 shares in the last quarter. Nordea Investment Management AB grew its position in Charles Schwab by 11.2% during the 3rd quarter. Nordea Investment Management AB now owns 3,040,864 shares of the financial services provider’s stock worth $291,436,000 after acquiring an additional 305,904 shares during the last quarter. Allen Capital Group LLC increased its holdings in Charles Schwab by 7.1% during the 3rd quarter. Allen Capital Group LLC now owns 105,236 shares of the financial services provider’s stock valued at $10,047,000 after purchasing an additional 6,968 shares in the last quarter. New Republic Capital LLC raised its position in Charles Schwab by 8.0% in the 3rd quarter. New Republic Capital LLC now owns 2,486 shares of the financial services provider’s stock valued at $237,000 after purchasing an additional 185 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. boosted its stake in Charles Schwab by 3.8% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 57,637 shares of the financial services provider’s stock worth $5,503,000 after purchasing an additional 2,101 shares in the last quarter. 84.38% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SCHW. Truist Financial raised their target price on Charles Schwab from $113.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, January 7th. UBS Group raised their price objective on shares of Charles Schwab from $119.00 to $123.00 and gave the company a “buy” rating in a research report on Wednesday, January 7th. JPMorgan Chase & Co. boosted their target price on shares of Charles Schwab from $119.00 to $121.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Citigroup reissued a “market outperform” rating on shares of Charles Schwab in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Charles Schwab from $119.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $111.57.

Insider Activity

In related news, insider Jonathan S. Beatty sold 3,072 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $98.00, for a total value of $301,056.00. Following the completion of the transaction, the insider directly owned 11,923 shares in the company, valued at approximately $1,168,454. The trade was a 20.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 6.30% of the company’s stock.

Charles Schwab Trading Down 0.8%

Shares of NYSE SCHW opened at $101.07 on Wednesday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.47. The Charles Schwab Corporation has a twelve month low of $65.88 and a twelve month high of $104.76. The company’s fifty day moving average is $96.65 and its 200-day moving average is $95.30. The stock has a market cap of $179.59 billion, a price-to-earnings ratio of 23.67, a P/E/G ratio of 0.71 and a beta of 0.94.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 EPS for the quarter, topping the consensus estimate of $1.25 by $0.06. The business had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $5.93 billion. Charles Schwab had a return on equity of 21.02% and a net margin of 35.93%.The firm’s revenue was up 26.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.71 EPS. Equities research analysts predict that The Charles Schwab Corporation will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were issued a dividend of $0.27 per share. 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%.

About Charles Schwab

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.