Principal Financial Group Inc. Sells 2,081 Shares of Charter Communications, Inc. (NASDAQ:CHTR)

Principal Financial Group Inc. reduced its stake in Charter Communications, Inc. (NASDAQ:CHTR) by 1.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,022 shares of the company’s stock after selling 2,081 shares during the period. Principal Financial Group Inc.’s holdings in Charter Communications were worth $37,712,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. FMR LLC increased its stake in shares of Charter Communications by 27.7% during the third quarter. FMR LLC now owns 1,064,948 shares of the company’s stock valued at $345,128,000 after purchasing an additional 230,817 shares in the last quarter. Fernbridge Capital Management LP bought a new position in shares of Charter Communications during the third quarter valued at approximately $48,200,000. Franklin Resources Inc. increased its stake in shares of Charter Communications by 4.9% during the third quarter. Franklin Resources Inc. now owns 3,179,454 shares of the company’s stock valued at $1,052,868,000 after purchasing an additional 148,003 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Charter Communications during the third quarter valued at approximately $244,720,000. Finally, Empirical Asset Management LLC bought a new position in shares of Charter Communications during the fourth quarter valued at approximately $21,338,000. 81.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CHTR. Wells Fargo & Company raised their target price on shares of Charter Communications from $350.00 to $400.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. raised their target price on shares of Charter Communications from $385.00 to $400.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Bank of America raised shares of Charter Communications from a “neutral” rating to a “buy” rating and raised their target price for the company from $385.00 to $450.00 in a research note on Monday, November 4th. BNP Paribas upgraded shares of Charter Communications from an “underperform” rating to a “neutral” rating and set a $360.00 price target on the stock in a report on Tuesday, November 26th. Finally, Morgan Stanley increased their price target on shares of Charter Communications from $360.00 to $415.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $384.42.

Charter Communications Trading Down 0.5 %

Shares of CHTR stock opened at $361.04 on Friday. Charter Communications, Inc. has a 12-month low of $236.08 and a 12-month high of $415.27. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 4.73. The firm’s 50 day moving average is $352.53 and its 200 day moving average is $353.65. The stock has a market capitalization of $51.34 billion, a P/E ratio of 10.33, a P/E/G ratio of 0.44 and a beta of 1.11.

Charter Communications (NASDAQ:CHTR) last issued its earnings results on Friday, February 7th. The company reported $10.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.14 by $0.96. Charter Communications had a net margin of 9.23% and a return on equity of 29.01%. During the same period in the previous year, the company earned $7.07 EPS. Research 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.