Grimes & Company Inc. Reduces Holdings in The Charles Schwab Co. (NYSE:SCHW)

Grimes & Company Inc. decreased its position in The Charles Schwab Co. (NYSE:SCHW) by 8.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,376 shares of the financial services provider’s stock after selling 3,076 shares during the period. Grimes & Company Inc.’s holdings in Charles Schwab were worth $2,618,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in SCHW. SJS Investment Consulting Inc. boosted its position in shares of Charles Schwab by 5.4% during the 4th quarter. SJS Investment Consulting Inc. now owns 10,827 shares of the financial services provider’s stock worth $801,000 after purchasing an additional 552 shares during the period. Lantz Financial LLC purchased a new position in shares of Charles Schwab during the 4th quarter worth approximately $216,000. Exchange Traded Concepts LLC boosted its position in shares of Charles Schwab by 592.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 136,828 shares of the financial services provider’s stock worth $10,127,000 after purchasing an additional 117,055 shares during the period. CX Institutional boosted its position in shares of Charles Schwab by 2.2% during the 4th quarter. CX Institutional now owns 9,298 shares of the financial services provider’s stock worth $688,000 after purchasing an additional 198 shares during the period. Finally, LexAurum Advisors LLC boosted its position in shares of Charles Schwab by 10.4% during the 4th quarter. LexAurum Advisors LLC now owns 14,876 shares of the financial services provider’s stock worth $1,101,000 after purchasing an additional 1,404 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Insiders Place Their Bets

In other news, General Counsel Peter J. Morgan III sold 14,643 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $80.70, for a total value of $1,181,690.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan S. Beatty sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $77.02, for a total transaction of $192,550.00. Following the completion of the transaction, the insider now directly owns 18,069 shares of the company’s stock, valued at approximately $1,391,674.38. This represents a 12.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,466 shares of company stock worth $3,352,884. Insiders own 6.60% of the company’s stock.

Charles Schwab Stock Down 0.5 %

SCHW stock opened at $81.67 on Friday. The company has a market cap of $145.34 billion, a P/E ratio of 27.31, a P/E/G ratio of 1.46 and a beta of 0.99. The Charles Schwab Co. has a 52 week low of $61.01 and a 52 week high of $83.35. The company’s 50-day moving average price is $77.81 and its 200 day moving average price is $70.88. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.59.

Charles Schwab (NYSE:SCHW) last released its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. The firm had revenue of $5.33 billion for the quarter, compared to the consensus estimate of $5,190,822.51 billion. Charles Schwab had a net margin of 30.31% and a return on equity of 18.20%. The firm’s revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.68 earnings per share. On average, research analysts expect that The Charles Schwab Co. will post 4.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on SCHW shares. The Goldman Sachs Group increased their price objective on shares of Charles Schwab from $67.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Citigroup raised their price target on shares of Charles Schwab from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday. Cowen raised their price target on shares of Charles Schwab from $69.00 to $75.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. StockNews.com raised shares of Charles Schwab from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, Truist Financial reissued a “buy” rating and issued a $90.00 price target (up previously from $86.00) on shares of Charles Schwab in a research report on Wednesday. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $83.83.

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.