The Manufacturers Life Insurance Company Invests $222,808,000 in Comcast Corporation (CMCSA)

The Manufacturers Life Insurance Company bought a new stake in shares of Comcast Corporation (NASDAQ:CMCSA) during the third quarter, Holdings Channel reports. The fund bought 3,358,580 shares of the cable giant’s stock, valued at approximately $222,808,000. The Manufacturers Life Insurance Company owned about 0.14% of Comcast Corporation as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of CMCSA. Adirondack Trust Co. boosted its position in Comcast Corporation by 25.1% in the third quarter. Adirondack Trust Co. now owns 1,671 shares of the cable giant’s stock worth $111,000 after buying an additional 335 shares in the last quarter. Proficio Capital Partners LLC boosted its position in Comcast Corporation by 80.1% in the second quarter. Proficio Capital Partners LLC now owns 1,704 shares of the cable giant’s stock worth $116,000 after buying an additional 758 shares in the last quarter. Penserra Capital Management LLC boosted its position in Comcast Corporation by 100.0% in the third quarter. Penserra Capital Management LLC now owns 1,764 shares of the cable giant’s stock worth $117,000 after buying an additional 882 shares in the last quarter. Cribstone Capital Management LLC boosted its position in Comcast Corporation by 4.2% in the third quarter. Cribstone Capital Management LLC now owns 1,841 shares of the cable giant’s stock worth $120,000 after buying an additional 75 shares in the last quarter. Finally, Gradient Investments LLC boosted its position in Comcast Corporation by 5.0% in the third quarter. Gradient Investments LLC now owns 2,193 shares of the cable giant’s stock worth $145,000 after buying an additional 105 shares in the last quarter. Institutional investors own 82.25% of the company’s stock.

Institutional Ownership by Quarter for Comcast Corporation (NASDAQ:CMCSA)

Comcast Corporation (NASDAQ:CMCSA) traded up 0.16% during mid-day trading on Friday, reaching $75.15. 6,342,052 shares of the company were exchanged. The stock has a 50-day moving average price of $72.78 and a 200 day moving average price of $67.99. Comcast Corporation has a one year low of $56.59 and a one year high of $76.87. The company has a market capitalization of $178.54 billion, a PE ratio of 21.05 and a beta of 1.07.

Comcast Corporation (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, January 26th. The cable giant reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.02. The business had revenue of $21 billion for the quarter, compared to analysts’ expectations of $20.67 billion. Comcast Corporation had a net margin of 10.81% and a return on equity of 15.30%. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.81 earnings per share. Analysts predict that Comcast Corporation will post $3.75 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 26th. Investors of record on Wednesday, April 5th will be issued a $0.1575 dividend. The ex-dividend date is Monday, April 3rd. This represents a $0.63 annualized dividend and a yield of 0.84%. This is a boost from Comcast Corporation’s previous quarterly dividend of $0.14. Comcast Corporation’s payout ratio is 30.81%.

WARNING: “The Manufacturers Life Insurance Company Invests $222,808,000 in Comcast Corporation (CMCSA)” was originally published by sleekmoney and is the property of of sleekmoney. If you are reading this news story on another website, it was copied illegally and republished in violation of United States and international copyright legislation. The correct version of this news story can be viewed at http://sleekmoney.com/the-manufacturers-life-insurance-company-invests-222808000-in-comcast-corporation-cmcsa/1655276.html.

A number of research firms recently issued reports on CMCSA. Instinet upped their price objective on shares of Comcast Corporation from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, January 27th. Jefferies Group LLC boosted their target price on shares of Comcast Corporation from $80.00 to $86.00 and gave the stock a “buy” rating in a report on Friday, January 27th. RBC Capital Markets boosted their target price on shares of Comcast Corporation from $72.00 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday, January 31st. Royal Bank Of Canada boosted their target price on shares of Comcast Corporation from $72.00 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday, January 31st. Finally, Oppenheimer Holdings, Inc. boosted their target price on shares of Comcast Corporation from $74.00 to $82.00 and gave the stock an “outperform” rating in a report on Monday, January 30th. Twenty-two research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $79.03.

In other news, Director Kenneth J. Bacon sold 2,500 shares of the business’s stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $70.05, for a total transaction of $175,125.00. Following the sale, the director now owns 14,064 shares in the company, valued at approximately $985,183.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Neil Smit sold 15,121 shares of the business’s stock in a transaction on Thursday, December 1st. The shares were sold at an average price of $69.57, for a total transaction of $1,051,967.97. Following the sale, the executive vice president now owns 62,208 shares in the company, valued at approximately $4,327,810.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 229,839 shares of company stock worth $17,165,153. 1.27% of the stock is currently owned by company insiders.

About Comcast Corporation

Comcast Corporation is a media and technology company. The Company’s primary businesses include Comcast Cable and NBCUniversal. Its Comcast Cable business operates in Cable Communications segment. Its NBCUniversal business consists of four segments, which include Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks.

5 Day Chart for NASDAQ:CMCSA

Want to see what other hedge funds are holding CMCSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Comcast Corporation (NASDAQ:CMCSA).

This story was originally published by sleekmoney (http://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://sleekmoney.com/the-manufacturers-life-insurance-company-invests-222808000-in-comcast-corporation-cmcsa/1655276.html

Receive News & Ratings for Comcast Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Comcast Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

 

Leave a Reply

Your email address will not be published. Required fields are marked *