Frontier Communications Corp. (FTR) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. increased its stake in shares of Frontier Communications Corp. (NASDAQ:FTR) by 3.9% during the second quarter, Holdings Channel reports. The institutional investor owned 1,764,943 shares of the company’s stock after buying an additional 66,742 shares during the period. Principal Financial Group Inc. owned 0.15% of Frontier Communications Corp. worth $8,719,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Prudential Financial Inc. raised its stake in shares of Frontier Communications Corp. by 49.8% in the second quarter. Prudential Financial Inc. now owns 2,675,940 shares of the company’s stock worth $13,219,000 after buying an additional 889,774 shares during the period. Private Advisor Group LLC raised its stake in shares of Frontier Communications Corp. by 39.3% in the second quarter. Private Advisor Group LLC now owns 111,398 shares of the company’s stock worth $544,000 after buying an additional 31,453 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Frontier Communications Corp. by 13.7% in the second quarter. Dimensional Fund Advisors LP now owns 29,978,633 shares of the company’s stock worth $148,084,000 after buying an additional 3,606,058 shares during the period. Teacher Retirement System of Texas raised its stake in shares of Frontier Communications Corp. by 24.7% in the second quarter. Teacher Retirement System of Texas now owns 7,458,059 shares of the company’s stock worth $36,843,000 after buying an additional 1,477,442 shares during the period. Finally, Eaton Vance Management raised its stake in shares of Frontier Communications Corp. by 3.8% in the second quarter. Eaton Vance Management now owns 141,996 shares of the company’s stock worth $701,000 after buying an additional 5,235 shares during the period. Institutional investors own 65.90% of the company’s stock.

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

Shares of Frontier Communications Corp. (NASDAQ:FTR) opened at 4.08 on Wednesday. Frontier Communications Corp. has a 1-year low of $3.81 and a 1-year high of $5.85. The stock’s 50 day moving average price is $4.31 and its 200-day moving average price is $4.90. The stock’s market cap is $4.79 billion.

Frontier Communications Corp. (NASDAQ:FTR) last issued its earnings results on Monday, August 1st. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by $0.04. The business had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.75 billion. Frontier Communications Corp. had a negative net margin of 4.85% and a positive return on equity of 2.52%. The firm’s revenue for the quarter was up 90.6% compared to the same quarter last year. During the same period last year, the business posted $0.03 EPS. On average, equities research analysts forecast that Frontier Communications Corp. will post ($0.08) earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were paid a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a yield of 10.29%. The ex-dividend date was Tuesday, September 13th. Frontier Communications Corp.’s dividend payout ratio (DPR) is presently -85.71%.

FTR has been the topic of a number of research analyst reports. Zacks Investment Research downgraded shares of Frontier Communications Corp. from a “buy” rating to a “hold” rating in a report on Friday, July 29th. Macquarie raised shares of Frontier Communications Corp. from an “underperform” rating to a “neutral” rating in a report on Tuesday, September 6th. Wells Fargo & Co. reissued an “outperform” rating and issued a $8.75 price target on shares of Frontier Communications Corp. in a report on Monday, September 19th. Jefferies Group reissued a “buy” rating and issued a $6.00 price target on shares of Frontier Communications Corp. in a report on Tuesday, August 2nd. Finally, Bank of America Corp. set a $8.00 price target on shares of Frontier Communications Corp. and gave the stock a “buy” rating in a report on Monday, October 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $5.79.

About Frontier Communications Corp.

Frontier Communications Corporation (Frontier) offers a range of voice, data, and video services and products. The Company offers a portfolio of communications services for residential and business customers in each of its markets. The Company’s product portfolio includes Internet access, broadband-enabled services, video services and voice services.

5 Day Chart for NASDAQ:FTR

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