Principal Financial Group Inc. Lowers Stake in Frontdoor, Inc. (NASDAQ:FTDR)

Principal Financial Group Inc. decreased its position in shares of Frontdoor, Inc. (NASDAQ:FTDR) by 5.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 418,714 shares of the company’s stock after selling 23,012 shares during the quarter. Principal Financial Group Inc.’s holdings in Frontdoor were worth $14,148,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Natixis Advisors L.P. purchased a new position in shares of Frontdoor during the 4th quarter worth $415,000. Charles Schwab Investment Management Inc. lifted its position in Frontdoor by 5.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 891,674 shares of the company’s stock worth $31,405,000 after buying an additional 46,038 shares during the period. Counterpoint Mutual Funds LLC lifted its position in Frontdoor by 164.0% during the fourth quarter. Counterpoint Mutual Funds LLC now owns 7,989 shares of the company’s stock worth $281,000 after buying an additional 4,963 shares during the period. Versor Investments LP acquired a new stake in Frontdoor in the 4th quarter worth about $333,000. Finally, Teacher Retirement System of Texas grew its holdings in Frontdoor by 41.6% in the 4th quarter. Teacher Retirement System of Texas now owns 60,086 shares of the company’s stock valued at $2,116,000 after buying an additional 17,650 shares during the period.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on FTDR shares. William Blair upgraded shares of Frontdoor from a “market perform” rating to an “outperform” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. increased their price target on shares of Frontdoor from $45.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. Truist Financial boosted their price objective on shares of Frontdoor from $45.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group upped their price objective on Frontdoor from $33.00 to $41.00 and gave the stock a “sell” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $47.75.

Frontdoor Trading Down 0.2 %

Shares of FTDR stock opened at $47.88 on Friday. Frontdoor, Inc. has a fifty-two week low of $28.25 and a fifty-two week high of $49.21. The firm’s 50 day moving average price is $41.49 and its two-hundred day moving average price is $36.02. The stock has a market cap of $3.72 billion, a price-to-earnings ratio of 21.00 and a beta of 1.04. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 2.66.

Frontdoor (NASDAQ:FTDR) last posted its earnings results on Thursday, August 1st. The company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.27. Frontdoor had a net margin of 11.38% and a return on equity of 132.94%. The business had revenue of $542.00 million for the quarter, compared to analyst estimates of $536.74 million. During the same quarter in the previous year, the business posted $0.87 EPS. The business’s quarterly revenue was up 3.6% on a year-over-year basis. On average, analysts anticipate that Frontdoor, Inc. will post 2.73 EPS for the current year.

Frontdoor Company Profile

Frontdoor, Inc provides home warranties in the United States in the United States. Its customizable home warranties help customers protect and maintain their homes from costly and unplanned breakdowns of essential home systems and appliances. The company’s home warranty customers subscribe to an annual service plan agreement that covers the repair or replacement of principal components of approximately 20 home systems and appliances, including electrical, plumbing, water heaters, refrigerators, dishwashers, and ranges/ovens/cooktops, as well as electronics, pools, and spas and pumps; and heating, ventilation, and air conditioning systems.