RMR Capital Management LLC Has $1.54 Million Stock Holdings in The Charles Schwab Corporation $SCHW

Key Points

• RMR Capital Management LLC reduced its holdings in The Charles Schwab Corporation by 16.5%, owning 16,885 shares valued at approximately $1.54 million as of the end of the second quarter.
• Insider transactions saw significant sales, with key executives selling over 267,000 shares worth approximately $26.2 million in the last three months, leading to a notable decrease in their personal holdings.
• The company announced a $20 billion share repurchase plan, which allows for the repurchase of up to 11.6% of its shares, indicating the board's belief that the stock may be undervalued.

RMR Capital Management LLC lessened its holdings in The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 16.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,885 shares of the financial services provider's stock after selling 3,334 shares during the quarter. Charles Schwab accounts for approximately 1.1% of RMR Capital Management LLC's investment portfolio, making the stock its 26th biggest position. RMR Capital Management LLC's holdings in Charles Schwab were worth $1,541,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Westside Investment Management Inc. boosted its holdings in shares of Charles Schwab by 75.0% during the 1st quarter. Westside Investment Management Inc. now owns 350 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 150 shares in the last quarter. RMG Wealth Management LLC acquired a new stake in shares of Charles Schwab during the 2nd quarter valued at $27,000. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Charles Schwab by 97.9% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 386 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 191 shares in the last quarter. Stone House Investment Management LLC acquired a new stake in shares of Charles Schwab during the 1st quarter valued at $31,000. Finally, Activest Wealth Management boosted its holdings in shares of Charles Schwab by 6,650.0% during the 1st quarter. Activest Wealth Management now owns 405 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 399 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company's stock.

Insider Buying and Selling

In other news, insider Nigel J. Murtagh sold 24,096 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $97.91, for a total transaction of $2,359,239.36. Following the completion of the sale, the insider owned 58,999 shares of the company's stock, valued at $5,776,592.09. This trade represents a 29.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Peter J. Morgan III sold 50,016 shares of the firm's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $97.00, for a total transaction of $4,851,552.00. The disclosure for this sale can be found here. Insiders sold 267,128 shares of company stock worth $26,232,077 over the last three months. Insiders own 6.30% of the company's stock.

Analyst Ratings Changes

SCHW has been the topic of several recent research reports. Barclays reissued an "overweight" rating and set a $114.00 price objective on shares of Charles Schwab in a report on Wednesday, October 8th. Raymond James Financial reissued an "outperform" rating and set a $99.00 price objective on shares of Charles Schwab in a report on Friday, July 18th. Zacks Research downgraded Charles Schwab from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 17th. BMO Capital Markets assumed coverage on Charles Schwab in a report on Friday, October 3rd. They set an "outperform" rating and a $110.00 price objective on the stock. Finally, Keefe, Bruyette & Woods raised their target price on Charles Schwab from $102.00 to $108.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $101.85.

Charles Schwab Stock Down 0.1%

Shares of NYSE:SCHW opened at $93.39 on Wednesday. The firm has a market cap of $169.53 billion, a P/E ratio of 25.11, a P/E/G ratio of 0.89 and a beta of 0.97. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.47. The Charles Schwab Corporation has a 12-month low of $65.88 and a 12-month high of $99.59. The business has a fifty day simple moving average of $94.83 and a 200 day simple moving average of $89.33.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its earnings results on Friday, July 18th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.04. The business had revenue of $5.85 billion during the quarter, compared to analyst estimates of $5.64 billion. Charles Schwab had a return on equity of 19.30% and a net margin of 33.68%.Charles Schwab's revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period last year, the company earned $0.73 EPS. Analysts predict that The Charles Schwab Corporation will post 4.22 earnings per share for the current year.

Charles Schwab announced that its Board of Directors has approved a share repurchase plan on Thursday, July 24th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 11.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, August 8th. Charles Schwab's payout ratio is currently 29.03%.

About Charles Schwab

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.

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