Sumitomo Mitsui Trust Group Inc. Has $95.17 Million Position in Charter Communications, Inc. $CHTR

Key Points

• Sumitomo Mitsui Trust Group Inc. increased its stake in Charter Communications, now owning approximately 0.17% of the company, valued at $95.17 million, as per its recent SEC filing.
• Charter Communications reported a Q2 earnings per share of $9.18, missing the consensus estimate of $10.06, with quarterly revenue slightly up by 0.6% year-over-year.
• The stock has a current average price target of $373.71, with eight analysts rating it as a Buy, while four analysts have given it a Sell rating.

Sumitomo Mitsui Trust Group Inc. boosted its holdings in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 1.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 232,798 shares of the company's stock after buying an additional 3,424 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.17% of Charter Communications worth $95,170,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Gamco Investors INC. ET AL lifted its holdings in shares of Charter Communications by 0.8% during the first quarter. Gamco Investors INC. ET AL now owns 3,128 shares of the company's stock worth $1,153,000 after purchasing an additional 25 shares during the period. Allworth Financial LP lifted its holdings in Charter Communications by 10.5% during the 1st quarter. Allworth Financial LP now owns 283 shares of the company's stock worth $104,000 after buying an additional 27 shares during the period. Hemington Wealth Management lifted its holdings in Charter Communications by 24.3% during the 1st quarter. Hemington Wealth Management now owns 143 shares of the company's stock worth $52,000 after buying an additional 28 shares during the period. Cooper Financial Group grew its position in shares of Charter Communications by 2.3% in the 2nd quarter. Cooper Financial Group now owns 1,260 shares of the company's stock valued at $515,000 after buying an additional 28 shares during the last quarter. Finally, Brown Advisory Inc. increased its stake in shares of Charter Communications by 1.1% in the first quarter. Brown Advisory Inc. now owns 2,704 shares of the company's stock valued at $997,000 after buying an additional 29 shares during the period. 81.76% of the stock is currently owned by institutional investors and hedge funds.

Charter Communications Price Performance

Shares of NASDAQ CHTR opened at $244.20 on Friday. The firm's 50-day moving average price is $264.77 and its 200-day moving average price is $332.13. Charter Communications, Inc. has a 1-year low of $243.61 and a 1-year high of $437.06. The firm has a market capitalization of $33.36 billion, a P/E ratio of 6.69, a P/E/G ratio of 0.56 and a beta of 1.05. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 4.57.

Charter Communications (NASDAQ:CHTR - Get Free Report) last issued 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). The firm had revenue of $13.77 billion during the quarter, compared to the consensus estimate of $13.76 billion. Charter Communications had a net margin of 9.53% and a return on equity of 26.77%. The business's quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the firm earned $8.49 earnings per share. Equities research analysts anticipate that Charter Communications, Inc. will post 38.16 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Analysts Set New Price Targets

CHTR has been the topic of several analyst reports. Citigroup began coverage on Charter Communications in a report on Monday, October 6th. They issued a "buy" rating and a $325.00 target price on the stock. Royal Bank Of Canada decreased their price objective on shares of Charter Communications from $370.00 to $325.00 and set a "sector perform" rating for the company in a research report on Monday, October 6th. Sanford C. Bernstein lowered their target price on shares of Charter Communications from $380.00 to $350.00 and set an "outperform" rating for the company in a research note on Wednesday, September 10th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Charter Communications in a research report on Friday. Finally, Arete Research upgraded Charter Communications to a "strong sell" rating in a report on Tuesday, July 8th. Eight research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $373.71.

About Charter Communications

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.

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