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

Principal Financial Group Inc. reduced its holdings in shares of Frontdoor, Inc. (NASDAQ:FTDR) by 7.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 387,967 shares of the company’s stock after selling 30,747 shares during the period. Principal Financial Group Inc. owned about 0.50% of Frontdoor worth $18,619,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Diversified Trust Co increased its stake in Frontdoor by 2.5% in the 3rd quarter. Diversified Trust Co now owns 12,130 shares of the company’s stock worth $582,000 after purchasing an additional 299 shares during the period. Tidal Investments LLC increased its stake in shares of Frontdoor by 2.2% in the first quarter. Tidal Investments LLC now owns 15,740 shares of the company’s stock worth $513,000 after buying an additional 344 shares during the period. CWM LLC raised its holdings in Frontdoor by 15.8% during the 3rd quarter. CWM LLC now owns 2,695 shares of the company’s stock valued at $129,000 after buying an additional 367 shares during the last quarter. GAMMA Investing LLC boosted its position in Frontdoor by 90.7% during the 2nd quarter. GAMMA Investing LLC now owns 879 shares of the company’s stock valued at $30,000 after buying an additional 418 shares during the period. Finally, Exchange Traded Concepts LLC purchased a new position in shares of Frontdoor in the third quarter valued at about $27,000.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. The Goldman Sachs Group upped their price objective on shares of Frontdoor from $41.00 to $46.00 and gave the company a “sell” rating in a research note on Tuesday, November 5th. Truist Financial upped their price target on Frontdoor from $56.00 to $58.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. William Blair upgraded Frontdoor from a “market perform” rating to an “outperform” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. boosted their target price on Frontdoor from $45.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Frontdoor has an average rating of “Hold” and an average target price of $49.50.

Frontdoor Stock Down 1.7 %

FTDR stock opened at $55.56 on Friday. Frontdoor, Inc. has a fifty-two week low of $29.41 and a fifty-two week high of $58.86. The company has a market capitalization of $4.21 billion, a price-to-earnings ratio of 18.40 and a beta of 1.03. The business’s 50 day moving average price is $50.31 and its two-hundred day moving average price is $42.62. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.42 and a current ratio of 1.42.

Frontdoor (NASDAQ:FTDR) last released its quarterly earnings results on Monday, November 4th. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.33. The company had revenue of $540.00 million for the quarter, compared to analyst estimates of $541.88 million. Frontdoor had a return on equity of 132.99% and a net margin of 12.87%. The firm’s revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.94 earnings per share. As a group, analysts forecast that Frontdoor, Inc. will post 3.14 earnings per share for the current fiscal 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.