Charter Communications, Inc. $CHTR Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its holdings in Charter Communications, Inc. (NASDAQ:CHTR) by 5.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 95,821 shares of the company’s stock after selling 5,872 shares during the quarter. Principal Financial Group Inc. owned 0.08% of Charter Communications worth $20,686,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in CHTR. Quarry LP grew its stake in Charter Communications by 153.2% in the 4th quarter. Quarry LP now owns 119 shares of the company’s stock valued at $25,000 after acquiring an additional 72 shares during the period. Altshuler Shaham Ltd acquired a new position in Charter Communications during the fourth quarter worth $25,000. DV Equities LLC purchased a new position in Charter Communications during the fourth quarter valued at $25,000. Geneos Wealth Management Inc. lifted its holdings in Charter Communications by 141.0% during the first quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock valued at $35,000 after purchasing an additional 55 shares in the last quarter. Finally, Manchester Capital Management LLC grew its position in shares of Charter Communications by 1,600.0% in the fourth quarter. Manchester Capital Management LLC now owns 187 shares of the company’s stock valued at $39,000 after purchasing an additional 176 shares during the period. 81.76% of the stock is owned by institutional investors and hedge funds.

Charter Communications Stock Down 1.1%

Shares of NASDAQ CHTR opened at $127.79 on Wednesday. Charter Communications, Inc. has a 12-month low of $124.05 and a 12-month high of $402.15. The stock has a market cap of $15.72 billion, a PE ratio of 3.45, a P/E/G ratio of 0.23 and a beta of 0.71. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 4.56. The company has a 50-day moving average of $137.07 and a 200 day moving average of $185.58.

Charter Communications (NASDAQ:CHTR) last released its earnings results on Friday, April 24th. The company reported $9.17 earnings per share for the quarter, missing analysts’ consensus estimates of $10.01 by ($0.84). The business had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.56 billion. Charter Communications had a return on equity of 24.20% and a net margin of 9.03%.The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period last year, the business earned $8.42 earnings per share. As a group, sell-side analysts predict that Charter Communications, Inc. will post 41.47 EPS for the current fiscal year.

Insider Transactions at Charter Communications

In related news, CEO Christopher L. Winfrey bought 3,468 shares of the company’s stock in a transaction on Tuesday, April 28th. The stock was bought at an average cost of $172.23 per share, for a total transaction of $597,293.64. Following the acquisition, the chief executive officer directly owned 74,409 shares in the company, valued at $12,815,462.07. This represents a 4.89% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Thomas Rutledge sold 18,200 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $146.94, for a total value of $2,674,308.00. Following the completion of the sale, the director directly owned 3,968 shares of the company’s stock, valued at $583,057.92. This trade represents a 82.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have acquired 20,125 shares of company stock valued at $3,167,116. 1.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CHTR has been the subject of a number of research reports. Zacks Research cut shares of Charter Communications from a “hold” rating to a “strong sell” rating in a research note on Monday, July 6th. UBS Group reaffirmed a “neutral” rating and issued a $235.00 price target on shares of Charter Communications in a research note on Thursday, June 25th. Deutsche Bank Aktiengesellschaft lowered their price objective on Charter Communications from $235.00 to $215.00 and set a “hold” rating on the stock in a report on Monday, April 27th. New Street Research reduced their target price on Charter Communications from $328.00 to $302.00 and set a “buy” rating for the company in a report on Wednesday, May 20th. Finally, Royal Bank Of Canada reduced their target price on Charter Communications from $220.00 to $160.00 and set a “sector perform” rating for the company in a report on Monday. Five equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $249.12.

Charter Communications Company Profile

Charter Communications, Inc is a U.S.-based telecommunications and mass media company that provides broadband communications and video services to residential and business customers. Operating primarily under the Spectrum brand, the company offers high-speed internet, cable television, digital voice (phone) and wireless services, as well as managed and enterprise networking solutions for commercial customers. Charter’s service portfolio targets both consumer and business markets with bundled and standalone offerings designed to meet streaming, connectivity and communications needs.

The company’s consumer-facing products include Spectrum Internet, Spectrum TV and Spectrum Voice, while Spectrum Mobile provides wireless service through arrangements with national wireless carriers.