Charles Schwab Co. (SCHW) Stake Increased by Cullinan Associates Inc.

Cullinan Associates Inc. grew its holdings in Charles Schwab Co. (NYSE:SCHW) by 1.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 110,850 shares of the financial services provider’s stock after buying an additional 1,800 shares during the quarter. Cullinan Associates Inc.’s holdings in Charles Schwab were worth $5,448,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC lifted its holdings in shares of Charles Schwab by 13.7% in the 2nd quarter. FMR LLC now owns 65,193,384 shares of the financial services provider’s stock valued at $3,331,382,000 after buying an additional 7,868,551 shares during the period. Edgewood Management LLC lifted its holdings in shares of Charles Schwab by 0.8% in the 2nd quarter. Edgewood Management LLC now owns 21,617,841 shares of the financial services provider’s stock valued at $1,104,672,000 after buying an additional 169,689 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Charles Schwab by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 12,567,417 shares of the financial services provider’s stock valued at $642,195,000 after buying an additional 68,160 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Charles Schwab by 15.7% in the 2nd quarter. Wells Fargo & Company MN now owns 6,172,018 shares of the financial services provider’s stock valued at $315,390,000 after buying an additional 838,506 shares during the period. Finally, Legal & General Group Plc lifted its holdings in shares of Charles Schwab by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 5,537,302 shares of the financial services provider’s stock valued at $283,178,000 after buying an additional 146,594 shares during the period. 80.36% of the stock is owned by institutional investors and hedge funds.

SCHW stock traded up $0.26 during midday trading on Friday, hitting $46.96. 702,693 shares of the stock were exchanged, compared to its average volume of 7,267,615. The stock has a market cap of $64.91 billion, a PE ratio of 28.56, a P/E/G ratio of 1.19 and a beta of 1.55. Charles Schwab Co. has a fifty-two week low of $42.20 and a fifty-two week high of $60.22. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.27 and a current ratio of 0.27.

Charles Schwab (NYSE:SCHW) last issued its quarterly earnings data on Monday, October 15th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.65. The firm had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Charles Schwab had a return on equity of 19.46% and a net margin of 32.65%. Charles Schwab’s revenue was up 19.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.42 earnings per share. As a group, equities research analysts predict that Charles Schwab Co. will post 2.45 earnings per share for the current year.

SCHW has been the subject of several research reports. Zacks Investment Research raised Charles Schwab from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a report on Tuesday, June 26th. ValuEngine cut Charles Schwab from a “buy” rating to a “hold” rating in a report on Wednesday, June 27th. Wolfe Research initiated coverage on Charles Schwab in a report on Tuesday, September 25th. They set an “underperform” rating for the company. Morgan Stanley lifted their price objective on Charles Schwab from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, October 9th. Finally, Citigroup reduced their price objective on Charles Schwab from $49.00 to $48.00 and set a “sell” rating for the company in a report on Monday, July 23rd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $58.77.

In other Charles Schwab news, Chairman Charles R. Schwab sold 190,500 shares of the firm’s stock in a transaction on Tuesday, July 24th. The stock was sold at an average price of $52.75, for a total transaction of $10,048,875.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Marie A. Chandoha sold 8,424 shares of the firm’s stock in a transaction on Tuesday, October 16th. The stock was sold at an average price of $48.01, for a total value of $404,436.24. The disclosure for this sale can be found here. Insiders have sold 217,271 shares of company stock valued at $11,385,530 in the last three months. 11.50% of the stock is currently owned by company insiders.

Charles Schwab Company Profile

The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates through two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services.

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Want to see what other hedge funds are holding SCHW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Charles Schwab Co. (NYSE:SCHW).

Institutional Ownership by Quarter for Charles Schwab (NYSE:SCHW)

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