Securian Asset Management Inc. Cuts Stake in Charter Communications, Inc. $CHTR

Securian Asset Management Inc. reduced its position in Charter Communications, Inc. (NASDAQ:CHTR) by 2.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 5,003 shares of the company’s stock after selling 100 shares during the period. Securian Asset Management Inc.’s holdings in Charter Communications were worth $2,045,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of CHTR. SouthState Corp purchased a new position in Charter Communications in the first quarter worth $25,000. Salem Investment Counselors Inc. grew its holdings in shares of Charter Communications by 2,033.3% during the second quarter. Salem Investment Counselors Inc. now owns 64 shares of the company’s stock valued at $26,000 after buying an additional 61 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Charter Communications during the second quarter valued at $28,000. SBI Securities Co. Ltd. grew its holdings in shares of Charter Communications by 93.2% during the first quarter. SBI Securities Co. Ltd. now owns 85 shares of the company’s stock valued at $31,000 after buying an additional 41 shares during the last quarter. Finally, Strengthening Families & Communities LLC purchased a new stake in shares of Charter Communications during the first quarter valued at $33,000. 81.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Barclays dropped their price objective on shares of Charter Communications from $341.00 to $275.00 and set an “underweight” rating on the stock in a report on Monday, July 28th. Wells Fargo & Company assumed coverage on shares of Charter Communications in a report on Thursday, August 21st. They set an “equal weight” rating and a $300.00 price objective on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Charter Communications from $370.00 to $325.00 and set a “hold” rating on the stock in a report on Monday, October 6th. KeyCorp dropped their price objective on shares of Charter Communications from $500.00 to $430.00 and set an “overweight” rating on the stock in a report on Friday, October 3rd. Finally, The Goldman Sachs Group assumed coverage on shares of Charter Communications in a report on Tuesday, September 2nd. They set a “sell” rating and a $223.00 price objective on the stock. Eight equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, Charter Communications has an average rating of “Hold” and an average price target of $373.71.

Insiders Place Their Bets

In other news, CEO Christopher L. Winfrey acquired 3,670 shares of the firm’s stock in a transaction on Thursday, July 31st. The stock was acquired at an average price of $273.10 per share, for a total transaction of $1,002,277.00. Following the completion of the transaction, the chief executive officer owned 70,243 shares in the company, valued at approximately $19,183,363.30. The trade was a 5.51% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Balan Nair acquired 360 shares of the firm’s stock in a transaction 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 transaction, the director owned 9,622 shares of the company’s stock, valued at approximately $2,638,448.62. This trade represents a 3.89% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.83% of the company’s stock.

Charter Communications Trading Down 3.0%

NASDAQ CHTR opened at $244.94 on Thursday. The company has a market capitalization of $33.46 billion, a PE ratio of 6.71, a P/E/G ratio of 0.58 and a beta of 1.05. The company has a fifty day moving average of $265.63 and a 200 day moving average of $333.21. Charter Communications, Inc. has a 1 year low of $244.19 and a 1 year high of $437.06. The company has a debt-to-equity ratio of 4.57, a current ratio of 0.33 and a quick ratio of 0.33.

Charter Communications (NASDAQ:CHTR) last posted its earnings results on Friday, July 25th. The company reported $9.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $10.06 by ($0.88). The business had revenue of $13.77 billion for the quarter, compared to analyst estimates of $13.76 billion. Charter Communications had a net margin of 9.53% and a return on equity of 26.77%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.49 earnings per share. Research analysts forecast 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.