Allstate Corp Takes $941,000 Position in Charter Communications, Inc. (NASDAQ:CHTR)

Allstate Corp bought a new stake in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,746 shares of the company's stock, valued at approximately $941,000.

A number of other institutional investors also recently added to or reduced their stakes in CHTR. Brown Brothers Harriman & Co. lifted its holdings in Charter Communications by 37.7% during the 4th quarter. Brown Brothers Harriman & Co. now owns 106 shares of the company's stock worth $36,000 after buying an additional 29 shares during the last quarter. DnB Asset Management AS lifted its stake in Charter Communications by 3.9% during the fourth quarter. DnB Asset Management AS now owns 17,369 shares of the company's stock worth $5,954,000 after purchasing an additional 644 shares during the last quarter. Pictet Asset Management Holding SA boosted its holdings in Charter Communications by 14.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 56,669 shares of the company's stock valued at $19,424,000 after purchasing an additional 7,043 shares in the last quarter. New Age Alpha Advisors LLC purchased a new position in Charter Communications in the fourth quarter valued at approximately $593,000. Finally, Norges Bank purchased a new position in Charter Communications in the fourth quarter valued at approximately $1,032,236,000. Hedge funds and other institutional investors own 81.76% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Barclays upped their target price on shares of Charter Communications from $315.00 to $320.00 and gave the company an "underweight" rating in a report on Monday, February 3rd. Citigroup started coverage on shares of Charter Communications in a research note on Friday, March 14th. They issued a "buy" rating and a $425.00 price objective for the company. StockNews.com lowered Charter Communications from a "buy" rating to a "hold" rating in a report on Friday. KeyCorp raised Charter Communications from a "sector weight" rating to an "overweight" rating and set a $500.00 target price for the company in a report on Thursday, December 12th. Finally, Royal Bank of Canada raised their price target on Charter Communications from $380.00 to $385.00 and gave the stock a "sector perform" rating in a research note on Monday, February 3rd. Four analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $393.18.

Remove Ads

Charter Communications Stock Performance

Shares of NASDAQ:CHTR traded down $30.11 during midday trading on Friday, hitting $338.29. The stock had a trading volume of 1,834,015 shares, compared to its average volume of 1,230,751. Charter Communications, Inc. has a 1 year low of $236.08 and a 1 year 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 stock has a 50 day moving average price of $360.56 and a two-hundred day moving average price of $357.63. The company has a market capitalization of $48.02 billion, a PE ratio of 9.68, a P/E/G ratio of 0.44 and a beta of 1.12.

Charter Communications (NASDAQ:CHTR - Get Free Report) last announced its quarterly earnings data on Friday, February 7th. The company reported $10.10 earnings per share for the quarter, beating analysts' consensus estimates of $9.14 by $0.96. Charter Communications had a return on equity of 29.01% and a net margin of 9.23%. During the same period last year, the firm posted $7.07 EPS. As a group, equities analysts predict that Charter Communications, Inc. will post 38.16 earnings per share for the current fiscal year.

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.