Cullen Investment Group LTD. Buys Shares of 23,643 The Charles Schwab Co. (NYSE:SCHW)

Cullen Investment Group LTD. purchased a new position in The Charles Schwab Co. (NYSE:SCHW - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 23,643 shares of the financial services provider's stock, valued at approximately $1,851,000.

A number of other hedge funds also recently bought and sold shares of SCHW. Murphy & Mullick Capital Management Corp bought a new position in shares of Charles Schwab in the fourth quarter worth about $38,000. Atala Financial Inc purchased a new position in shares of Charles Schwab in the 4th quarter worth approximately $41,000. Knuff & Co LLC boosted its holdings in shares of Charles Schwab by 1,309.3% in the 4th quarter. Knuff & Co LLC now owns 606 shares of the financial services provider's stock worth $45,000 after purchasing an additional 563 shares during the period. Financial Life Planners purchased a new position in shares of Charles Schwab in the 4th quarter worth approximately $46,000. Finally, Whipplewood Advisors LLC purchased a new position in shares of Charles Schwab in the 4th quarter worth approximately $46,000. Hedge funds and other institutional investors own 84.38% of the company's stock.

Insider Activity at Charles Schwab

In other news, Director Paula A. Sneed sold 8,647 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $88.06, for a total value of $761,454.82. Following the sale, the director now directly owns 105,654 shares in the company, valued at approximately $9,303,891.24. This represents a 7.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jonathan M. Craig sold 47,500 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $88.46, for a total value of $4,201,850.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 101,355 shares of company stock valued at $8,599,281. Insiders own 6.30% of the company's stock.

Charles Schwab Price Performance

NYSE:SCHW traded down $0.86 during midday trading on Monday, hitting $87.48. 2,448,772 shares of the stock were exchanged, compared to its average volume of 9,374,632. The Charles Schwab Co. has a one year low of $61.01 and a one year high of $89.85. The company has a market capitalization of $158.94 billion, a price-to-earnings ratio of 29.25, a P/E/G ratio of 0.99 and a beta of 0.90. The business has a 50-day moving average price of $80.83 and a two-hundred day moving average price of $79.38. 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 - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The financial services provider reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.03. The business had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.46 billion. Charles Schwab had a return on equity of 18.20% and a net margin of 30.31%. During the same period last year, the company posted $0.74 EPS. Sell-side analysts predict that The Charles Schwab Co. will post 4.22 EPS for the current year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.08 dividend on an annualized basis and a yield of 1.23%. Charles Schwab's payout ratio is 32.73%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SCHW. JPMorgan Chase & Co. boosted their target price on Charles Schwab from $92.00 to $95.00 and gave the stock an "overweight" rating in a research note on Monday, April 21st. TD Securities upped their price target on Charles Schwab from $95.00 to $113.00 and gave the company a "buy" rating in a research report on Tuesday, May 20th. Cowen restated a "buy" rating on shares of Charles Schwab in a research report on Tuesday, May 20th. Citigroup upgraded Charles Schwab from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $85.00 to $102.00 in a research report on Wednesday, April 2nd. Finally, Wells Fargo & Company lowered their price objective on Charles Schwab from $93.00 to $87.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $89.63.

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.