Cullinan Associates Inc. Sells 300 Shares of The Charles Schwab Co. (NYSE:SCHW)

Cullinan Associates Inc. reduced its stake in The Charles Schwab Co. (NYSE:SCHW – Get Rating) by 0.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 75,700 shares of the financial services provider’s stock after selling 300 shares during the period. Cullinan Associates Inc.’s holdings in Charles Schwab were worth $6,303,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. IFG Advisory LLC lifted its position in Charles Schwab by 2.4% during the third quarter. IFG Advisory LLC now owns 6,175 shares of the financial services provider’s stock worth $443,000 after acquiring an additional 144 shares during the last quarter. Desjardins Global Asset Management Inc. increased its stake in shares of Charles Schwab by 3.0% during the third quarter. Desjardins Global Asset Management Inc. now owns 5,136 shares of the financial services provider’s stock worth $369,000 after purchasing an additional 150 shares during the period. 1ST Source Bank lifted its holdings in Charles Schwab by 0.6% during the 3rd quarter. 1ST Source Bank now owns 24,341 shares of the financial services provider’s stock worth $1,749,000 after purchasing an additional 150 shares during the last quarter. Atlas Private Wealth Management boosted its stake in Charles Schwab by 4.1% in the 3rd quarter. Atlas Private Wealth Management now owns 3,829 shares of the financial services provider’s stock valued at $275,000 after purchasing an additional 151 shares during the period. Finally, Beacon Financial Group grew its holdings in Charles Schwab by 0.7% in the 3rd quarter. Beacon Financial Group now owns 21,285 shares of the financial services provider’s stock valued at $1,546,000 after buying an additional 157 shares in the last quarter. 73.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SCHW. StockNews.com began coverage on shares of Charles Schwab in a research report on Thursday. They issued a “hold” rating for the company. Bank of America cut their price objective on shares of Charles Schwab from $74.00 to $60.00 in a report on Monday, March 13th. William Blair reaffirmed an “outperform” rating on shares of Charles Schwab in a report on Tuesday, January 17th. JPMorgan Chase & Co. initiated coverage on Charles Schwab in a research note on Friday, March 10th. They issued a “buy” rating and a $97.00 price target for the company. Finally, Piper Sandler reduced their price target on Charles Schwab from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $85.04.

Charles Schwab Stock Performance

NYSE:SCHW opened at $56.41 on Friday. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $101.06 billion, a PE ratio of 16.12, a price-to-earnings-growth ratio of 1.29 and a beta of 0.93. The Charles Schwab Co. has a twelve month low of $45.00 and a twelve month high of $93.16. The stock’s 50-day simple moving average is $76.48 and its 200 day simple moving average is $76.60.

Charles Schwab (NYSE:SCHW – Get Rating) last announced its quarterly earnings results on Wednesday, January 18th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($0.03). The company had revenue of $5.50 billion for the quarter, compared to the consensus estimate of $5.55 billion. Charles Schwab had a net margin of 34.60% and a return on equity of 24.94%. The company’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same period last year, the firm posted $0.86 earnings per share. On average, analysts anticipate that The Charles Schwab Co. will post 4.1 EPS for the current fiscal year.

Charles Schwab Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 24th. Stockholders of record on Friday, February 10th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.77%. This is a boost from Charles Schwab’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Thursday, February 9th. Charles Schwab’s dividend payout ratio is presently 28.57%.

Insider Activity at Charles Schwab

In other Charles Schwab news, Chairman Charles R. Schwab sold 188,670 shares of the company’s stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $80.07, for a total value of $15,106,806.90. Following the completion of the transaction, the chairman now owns 30,856,646 shares of the company’s stock, valued at approximately $2,470,691,645.22. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Chairman Charles R. Schwab sold 188,670 shares of Charles Schwab stock in a transaction that occurred on Monday, February 6th. The shares were sold at an average price of $80.07, for a total transaction of $15,106,806.90. Following the sale, the chairman now directly owns 30,856,646 shares in the company, valued at approximately $2,470,691,645.22. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Richard A. Wurster bought 2,000 shares of Charles Schwab stock in a transaction on Friday, March 17th. The shares were acquired at an average cost of $54.39 per share, for a total transaction of $108,780.00. Following the completion of the acquisition, the president now directly owns 101,391 shares in the company, valued at $5,514,656.49. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 71,000 shares of company stock valued at $4,165,460 and have sold 728,106 shares valued at $58,067,403. 7.50% of the stock is currently owned by company insiders.

Charles Schwab Profile

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The Charles Schwab Corp. is a savings and loan holding company, which engages in the provision of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. It operates through the Investor Services and Advisor Services segments. The Investor Services segment includes retail brokerage and banking services to individual investors, and retirement plan services, as well as other corporate brokerage services, to businesses and their employees.