Sumitomo Life Insurance Co. Reduces Stake in Charter Communications, Inc. (NASDAQ:CHTR)

Sumitomo Life Insurance Co. trimmed its position in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 11.0% during the second quarter, Holdings Channel reports. The firm owned 2,381 shares of the company’s stock after selling 295 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Charter Communications were worth $712,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CHTR. International Assets Investment Management LLC acquired a new stake in Charter Communications in the 4th quarter valued at about $362,570,000. Cerity Partners LLC grew its position in shares of Charter Communications by 16.2% in the fourth quarter. Cerity Partners LLC now owns 5,503 shares of the company’s stock valued at $2,139,000 after purchasing an additional 769 shares during the last quarter. Vontobel Holding Ltd. increased its stake in shares of Charter Communications by 17.6% during the 4th quarter. Vontobel Holding Ltd. now owns 3,014 shares of the company’s stock worth $1,171,000 after purchasing an additional 452 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of Charter Communications by 14.3% during the 4th quarter. Mackenzie Financial Corp now owns 47,854 shares of the company’s stock worth $18,600,000 after purchasing an additional 5,979 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Charter Communications by 41.8% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 217 shares of the company’s stock valued at $84,000 after buying an additional 64 shares during the last quarter. 81.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on CHTR shares. Wells Fargo & Company boosted their target price on shares of Charter Communications from $260.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Loop Capital reduced their price objective on shares of Charter Communications from $335.00 to $285.00 and set a “hold” rating on the stock in a research note on Monday, April 29th. Pivotal Research lifted their target price on shares of Charter Communications from $400.00 to $435.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Morgan Stanley increased their price target on Charter Communications from $330.00 to $360.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. Finally, JPMorgan Chase & Co. lifted their price objective on Charter Communications from $300.00 to $385.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $360.93.

Charter Communications Stock Up 0.4 %

Shares of Charter Communications stock opened at $353.31 on Monday. Charter Communications, Inc. has a twelve month low of $236.08 and a twelve month high of $458.30. The stock has a market cap of $50.89 billion, a price-to-earnings ratio of 11.43, a price-to-earnings-growth ratio of 0.70 and a beta of 1.04. The company has a current ratio of 0.39, a quick ratio of 0.40 and a debt-to-equity ratio of 5.84. The company has a fifty day moving average price of $319.25 and a 200 day moving average price of $294.42.

Charter Communications (NASDAQ:CHTR) last issued its earnings results on Friday, July 26th. The company reported $8.49 earnings per share for the quarter, topping the consensus estimate of $7.98 by $0.51. The company had revenue of $13.69 billion during the quarter, compared to the consensus estimate of $13.59 billion. Charter Communications had a return on equity of 30.11% and a net margin of 8.51%. The company’s revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $8.05 earnings per share. Equities research analysts forecast that Charter Communications, Inc. will post 32.52 earnings per share for the current fiscal year.

Charter Communications Profile

Charter Communications, Inc operates as a broadband connectivity and cable operator company serving residential and commercial customers in the United States. The company offers subscription-based internet, video, and mobile and voice services; a suite of broadband connectivity services, including fixed internet, WiFi, and mobile; Advanced WiFi services; Spectrum Security Shield; in-home WiFi, which provides customers with high performance wireless routers and managed WiFi services to enhance their fixed wireless internet experience; out-of-home WiFi; and Spectrum WiFi services.