Sumitomo Mitsui Trust Group Inc. Buys 53,916 Shares of Charter Communications, Inc. $CHTR

Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 28.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 240,283 shares of the company’s stock after purchasing an additional 53,916 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Charter Communications were worth $26,647,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Bank of America Corp DE lifted its stake in shares of Charter Communications by 28.4% in the first quarter. Bank of America Corp DE now owns 731,708 shares of the company’s stock valued at $157,961,000 after purchasing an additional 161,888 shares during the period. State of Michigan Retirement System boosted its holdings in Charter Communications by 1,547.4% during the first quarter. State of Michigan Retirement System now owns 431,582 shares of the company’s stock worth $93,170,000 after buying an additional 405,385 shares in the last quarter. Sei Investments Co. grew its position in Charter Communications by 79.2% during the first quarter. Sei Investments Co. now owns 250,497 shares of the company’s stock worth $54,078,000 after buying an additional 110,684 shares during the period. Swiss National Bank grew its position in Charter Communications by 1.5% during the first quarter. Swiss National Bank now owns 246,896 shares of the company’s stock worth $53,300,000 after buying an additional 3,560 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in Charter Communications by 443.8% in the third quarter. Assenagon Asset Management S.A. now owns 419,881 shares of the company’s stock valued at $46,565,000 after buying an additional 342,668 shares in the last quarter. Hedge funds and other institutional investors own 81.76% of the company’s stock.

Charter Communications Stock Performance

Shares of CHTR opened at $125.86 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 4.32. The stock has a market cap of $15.01 billion, a P/E ratio of 3.27, a PEG ratio of 0.25 and a beta of 0.73. The company has a 50-day moving average of $121.54 and a two-hundred day moving average of $163.66. Charter Communications, Inc. has a 12-month low of $101.11 and a 12-month high of $254.11.

Wall Street Analysts Forecast Growth

CHTR has been the topic of several research analyst reports. Weiss Ratings lowered Charter Communications from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, October 2nd. Barclays dropped their price objective on Charter Communications from $130.00 to $115.00 and set an “underweight” rating for the company in a research note on Monday, July 27th. Bank of America reiterated a “buy” rating on shares of Charter Communications in a research report on Monday, July 27th. Benchmark reissued a “buy” rating on shares of Charter Communications in a report on Wednesday, July 22nd. Finally, TD Cowen lowered their target price on Charter Communications from $413.00 to $380.00 and set a “buy” rating on the stock in a report on Monday, July 27th. Five equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and seven have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $200.18.

Charter Communications Company Profile

Charter Communications, Inc is a telecommunications and broadband services company that operates under the Spectrum brand. The company provides internet access, video entertainment, mobile communications and voice services to residential customers, as well as connectivity, data networking, cloud, security and other communications solutions to businesses and government organizations.

Charter operates one of the largest broadband networks in the United States, serving customers across dozens of states.