Zurich Insurance Group Ltd FI Cuts Position in Comcast Co. (NASDAQ:CMCSA)

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Zurich Insurance Group Ltd FI lessened its holdings in Comcast Co. (NASDAQ:CMCSA) by 11.1% during the second quarter, Holdings Channel.com reports. The institutional investor owned 757,431 shares of the cable giant’s stock after selling 94,617 shares during the quarter. Zurich Insurance Group Ltd FI’s holdings in Comcast were worth $32,024,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CMCSA. USS Investment Management Ltd lifted its holdings in shares of Comcast by 7.3% during the 1st quarter. USS Investment Management Ltd now owns 6,208,145 shares of the cable giant’s stock valued at $248,109,000 after buying an additional 423,687 shares during the last quarter. Braun Stacey Associates Inc. lifted its holdings in shares of Comcast by 1.3% during the 1st quarter. Braun Stacey Associates Inc. now owns 382,095 shares of the cable giant’s stock valued at $15,276,000 after buying an additional 4,820 shares during the last quarter. Calton & Associates Inc. acquired a new stake in shares of Comcast during the 1st quarter valued at about $321,000. Bigelow Investment Advisors LLC bought a new position in shares of Comcast in the 1st quarter valued at approximately $263,000. Finally, Grove Bank & Trust raised its stake in shares of Comcast by 3.0% in the 1st quarter. Grove Bank & Trust now owns 22,875 shares of the cable giant’s stock valued at $915,000 after acquiring an additional 671 shares in the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.

In other news, SVP Daniel C. Murdock sold 848 shares of Comcast stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $44.23, for a total transaction of $37,507.04. Following the sale, the senior vice president now owns 3,419 shares of the company’s stock, valued at approximately $151,222.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenneth J. Bacon sold 4,000 shares of Comcast stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $45.03, for a total value of $180,120.00. Following the sale, the director now directly owns 29,603 shares in the company, valued at approximately $1,333,023.09. The disclosure for this sale can be found here. Insiders own 1.35% of the company’s stock.

A number of research analysts recently weighed in on CMCSA shares. BidaskClub raised Comcast from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Rosenblatt Securities started coverage on Comcast in a research note on Friday, June 14th. They issued a “buy” rating and a $50.00 price objective on the stock. Macquarie started coverage on Comcast in a research note on Wednesday, June 19th. They issued a “buy” rating and a $50.00 price objective on the stock. Raymond James downgraded Comcast from a “strong-buy” rating to an “outperform” rating and cut their price objective for the company from $25.00 to $21.00 in a research note on Friday, June 14th. Finally, Cfra set a $50.00 price objective on Comcast and gave the company a “buy” rating in a research note on Wednesday, August 21st. Five research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $46.97.

NASDAQ CMCSA traded down $0.09 during trading on Friday, hitting $46.60. The company’s stock had a trading volume of 9,744,965 shares, compared to its average volume of 13,928,125. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.30. The firm has a 50 day moving average price of $44.12 and a 200 day moving average price of $42.55. The firm has a market cap of $210.61 billion, a P/E ratio of 18.27, a price-to-earnings-growth ratio of 1.27 and a beta of 1.08. Comcast Co. has a 52 week low of $32.61 and a 52 week high of $47.27.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, July 25th. The cable giant reported $0.78 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.03. The company had revenue of $26.86 billion for the quarter, compared to the consensus estimate of $27.08 billion. Comcast had a return on equity of 17.50% and a net margin of 11.64%. The company’s revenue for the quarter was up 23.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.65 EPS. On average, equities analysts expect that Comcast Co. will post 3.09 earnings per share for the current year.

Comcast Company Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks, and Sky segments. The Cable Communications segment offers cable services, including high-speed Internet, video, voice, and security and automation services to residential and business customers under the Xfinity name; and advertising services.

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Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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