Principal Financial Group Inc. Decreases Stock Position in Frontdoor, Inc. (NASDAQ:FTDR)

Principal Financial Group Inc. decreased its position in shares of Frontdoor, Inc. (NASDAQ:FTDR) by 7.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 387,967 shares of the company’s stock after selling 30,747 shares during the period. Principal Financial Group Inc. owned about 0.51% of Frontdoor worth $18,619,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. BOKF NA purchased a new stake in shares of Frontdoor during the second quarter worth about $493,000. Harbor Capital Advisors Inc. increased its holdings in Frontdoor by 84.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 184,408 shares of the company’s stock worth $8,850,000 after purchasing an additional 84,167 shares during the last quarter. Natixis Advisors LLC acquired a new position in shares of Frontdoor in the 2nd quarter valued at approximately $513,000. Meeder Asset Management Inc. boosted its stake in shares of Frontdoor by 362.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 24,590 shares of the company’s stock valued at $1,180,000 after buying an additional 19,277 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of Frontdoor by 8.7% during the second quarter. Victory Capital Management Inc. now owns 2,176,056 shares of the company’s stock worth $73,529,000 after buying an additional 173,624 shares in the last quarter.

Frontdoor Trading Up 0.6 %

Frontdoor stock opened at $56.82 on Friday. Frontdoor, Inc. has a 12-month low of $29.41 and a 12-month high of $60.42. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.42 and a quick ratio of 1.42. The stock has a market capitalization of $4.31 billion, a PE ratio of 18.81 and a beta of 1.08. The firm has a 50 day simple moving average of $55.65 and a 200-day simple moving average of $47.24.

Frontdoor (NASDAQ:FTDR) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.33. The company had revenue of $540.00 million for the quarter, compared to analysts’ expectations of $541.88 million. Frontdoor had a net margin of 12.87% and a return on equity of 132.99%. The business’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.94 EPS. As a group, equities research analysts expect that Frontdoor, Inc. will post 3.14 EPS for the current fiscal year.

Insider Transactions at Frontdoor

In other news, SVP Kathryn M. Collins sold 25,784 shares of Frontdoor stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $58.06, for a total value of $1,497,019.04. Following the transaction, the senior vice president now directly owns 9,429 shares of the company’s stock, valued at $547,447.74. This trade represents a 73.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Evan Iverson sold 16,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $58.84, for a total transaction of $941,440.00. Following the completion of the sale, the chief operating officer now owns 4,955 shares of the company’s stock, valued at approximately $291,552.20. This trade represents a 76.35 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Truist Financial increased their price objective on shares of Frontdoor from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. The Goldman Sachs Group lifted their price target on Frontdoor from $41.00 to $46.00 and gave the stock a “sell” rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $49.50.

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.