Principal Financial Group Inc. Has $3.82 Million Position in Frontier Communications Corporation (FTR)

Principal Financial Group Inc. lowered its position in shares of Frontier Communications Corporation (NASDAQ:FTR) by 93.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 323,811 shares of the utilities provider’s stock after selling 4,616,512 shares during the period. Principal Financial Group Inc. owned approximately 0.41% of Frontier Communications worth $3,818,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in FTR. Shelton Capital Management bought a new stake in shares of Frontier Communications during the second quarter valued at approximately $111,000. GSA Capital Partners LLP bought a new stake in shares of Frontier Communications during the second quarter valued at approximately $113,000. World Asset Management Inc increased its position in shares of Frontier Communications by 14.5% during the second quarter. World Asset Management Inc now owns 104,176 shares of the utilities provider’s stock valued at $121,000 after acquiring an additional 13,158 shares in the last quarter. MML Investors Services LLC increased its position in shares of Frontier Communications by 204.3% during the second quarter. MML Investors Services LLC now owns 118,366 shares of the utilities provider’s stock valued at $137,000 after acquiring an additional 79,473 shares in the last quarter. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Frontier Communications during the third quarter valued at approximately $146,000. 67.62% of the stock is owned by institutional investors.

Shares of Frontier Communications Corporation (NASDAQ FTR) opened at $9.75 on Monday. Frontier Communications Corporation has a 1 year low of $6.08 and a 1 year high of $57.30. The company has a debt-to-equity ratio of 5.16, a quick ratio of 0.70 and a current ratio of 0.70.

Frontier Communications (NASDAQ:FTR) last issued its quarterly earnings data on Tuesday, October 31st. The utilities provider reported ($0.94) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.95) by $0.01. Frontier Communications had a negative net margin of 9.17% and a negative return on equity of 1.97%. The firm had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the previous year, the firm posted ($0.64) EPS. The company’s revenue for the quarter was down 10.8% compared to the same quarter last year. sell-side analysts forecast that Frontier Communications Corporation will post -4.17 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 24.62%. The ex-dividend date is Thursday, December 14th. Frontier Communications’s payout ratio is -17.38%.

A number of equities research analysts have commented on FTR shares. Zacks Investment Research raised shares of Frontier Communications from a “sell” rating to a “hold” rating in a research report on Tuesday, October 24th. BidaskClub raised shares of Frontier Communications from a “sell” rating to a “hold” rating in a research report on Thursday, September 7th. ValuEngine downgraded shares of Frontier Communications from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $9.00 target price (down previously from $14.50) on shares of Frontier Communications in a research report on Thursday, November 2nd. Finally, Bank of America downgraded shares of Frontier Communications from a “neutral” rating to an “underperform” rating and set a $4.00 target price for the company. in a research report on Friday, November 10th. Five analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company. Frontier Communications currently has an average rating of “Hold” and a consensus target price of $9.46.

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Frontier Communications Company Profile

Frontier Communications Corporation (Frontier) is a provider of communications services in the United States. The Company offers a portfolio of communications services for residential and business customers. Its products and services include data and Internet services, video services, voice services, access services and customer premise equipment (CPE).

Institutional Ownership by Quarter for Frontier Communications (NASDAQ:FTR)

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