Charter Communications, Inc. $CHTR Shares Sold by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company reduced its stake in Charter Communications by 66.0%, now holding approximately 93,017 shares worth $34.28 million.
• CEO Christopher L. Winfrey increased his ownership by 5.51% through the purchase of 3,670 shares, bringing his total to 70,243 shares.
• Charter Communications reported earnings of $9.18 per share for the last quarter, missing estimates by $0.88, despite a slight revenue increase of 0.6% year-over-year.

The Manufacturers Life Insurance Company cut its stake in shares of Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 66.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 93,017 shares of the company's stock after selling 180,502 shares during the period. The Manufacturers Life Insurance Company owned 0.07% of Charter Communications worth $34,280,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Charter Communications by 1.5% in the first quarter. Vanguard Group Inc. now owns 8,191,760 shares of the company's stock valued at $3,018,909,000 after buying an additional 120,303 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Charter Communications by 53.6% in the 1st quarter. JPMorgan Chase & Co. now owns 2,310,073 shares of the company's stock worth $851,331,000 after purchasing an additional 806,145 shares in the last quarter. Invesco Ltd. boosted its stake in Charter Communications by 7.0% during the 1st quarter. Invesco Ltd. now owns 1,834,807 shares of the company's stock valued at $676,181,000 after purchasing an additional 120,624 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Charter Communications by 1.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,283,315 shares of the company's stock valued at $472,941,000 after purchasing an additional 19,594 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Charter Communications by 22.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,099,293 shares of the company's stock valued at $405,118,000 after purchasing an additional 198,444 shares during the last quarter. Institutional investors own 81.76% of the company's stock.

Insider Activity at Charter Communications

In other Charter Communications news, CEO Christopher L. Winfrey bought 3,670 shares of Charter Communications stock in a transaction that occurred on Thursday, July 31st. The stock was purchased at an average price of $273.10 per share, with a total value of $1,002,277.00. Following the completion of the acquisition, the chief executive officer directly owned 70,243 shares in the company, valued at approximately $19,183,363.30. This trade represents a 5.51% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Balan Nair bought 360 shares of the firm's stock in a transaction that occurred on Thursday, July 31st. The stock was purchased at an average price of $274.21 per share, with a total value of $98,715.60. Following the completion of the purchase, the director owned 9,622 shares in the company, valued at approximately $2,638,448.62. This trade represents a 3.89% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.83% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. The Goldman Sachs Group initiated coverage on Charter Communications in a research report on Tuesday. They set a "sell" rating and a $223.00 target price on the stock. Barclays dropped their target price on shares of Charter Communications from $341.00 to $275.00 and set an "underweight" rating for the company in a report on Monday, July 28th. Sanford C. Bernstein upgraded Charter Communications from a "market perform" rating to an "outperform" rating and set a $380.00 target price for the company in a research note on Monday, July 28th. Wolfe Research upgraded shares of Charter Communications from an "underperform" rating to a "peer perform" rating in a research note on Friday, June 20th. Finally, Raymond James Financial upgraded shares of Charter Communications from an "underperform" rating to a "market perform" rating in a report on Monday, May 19th. Eight research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $394.61.

Charter Communications Trading Up 0.8%

Shares of NASDAQ CHTR traded up $1.99 during mid-day trading on Friday, reaching $261.50. The company had a trading volume of 2,245,925 shares, compared to its average volume of 1,517,014. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 4.57. The stock has a market cap of $35.72 billion, a price-to-earnings ratio of 7.16, a price-to-earnings-growth ratio of 0.59 and a beta of 1.02. The business's 50-day moving average is $320.92 and its 200-day moving average is $356.52. Charter Communications, Inc. has a 52 week low of $254.67 and a 52 week high of $437.06.

Charter Communications (NASDAQ:CHTR - Get Free Report) last posted its earnings results on Friday, July 25th. The company reported $9.18 EPS for the quarter, missing analysts' consensus estimates of $10.06 by ($0.88). Charter Communications had a net margin of 9.53% and a return on equity of 26.77%. The business had revenue of $13.77 billion for the quarter, compared to analysts' expectations of $13.76 billion. During the same period last year, the business posted $8.49 EPS. The company's revenue for the quarter was up .6% on a year-over-year basis. Equities analysts expect that Charter Communications, Inc. will post 38.16 earnings per share for the current year.

Charter Communications Company 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.