Advisor Group Inc. cut its stake in Frontier Communications Corporation (NASDAQ:FTR) by 93.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,852 shares of the utilities provider’s stock after selling 252,270 shares during the period. Advisor Group Inc.’s holdings in Frontier Communications were worth $223,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Aviva PLC boosted its stake in Frontier Communications by 0.5% in the 2nd quarter. Aviva PLC now owns 736,919 shares of the utilities provider’s stock worth $855,000 after purchasing an additional 3,410 shares in the last quarter. Arizona State Retirement System lifted its stake in Frontier Communications by 1.4% during the 2nd quarter. Arizona State Retirement System now owns 494,600 shares of the utilities provider’s stock valued at $574,000 after acquiring an additional 6,600 shares during the period. State Treasurer State of Michigan lifted its stake in Frontier Communications by 1.5% during the 2nd quarter. State Treasurer State of Michigan now owns 483,600 shares of the utilities provider’s stock valued at $561,000 after acquiring an additional 7,000 shares during the period. Texas Permanent School Fund lifted its stake in Frontier Communications by 0.8% during the 2nd quarter. Texas Permanent School Fund now owns 856,469 shares of the utilities provider’s stock valued at $994,000 after acquiring an additional 7,154 shares during the period. Finally, FNY Partners Fund LP lifted its stake in Frontier Communications by 900.0% during the 2nd quarter. FNY Partners Fund LP now owns 10,000 shares of the utilities provider’s stock valued at $174,000 after acquiring an additional 9,000 shares during the period. Institutional investors own 68.48% of the company’s stock.

Several brokerages have commented on FTR. Cowen restated a “market perform” rating on shares of Frontier Communications in a research note on Wednesday, August 2nd. BidaskClub upgraded shares of Frontier Communications from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. Deutsche Bank decreased their price objective on shares of Frontier Communications from $17.00 to $15.00 and set a “hold” rating for the company in a research note on Tuesday, October 10th. Zacks Investment Research upgraded shares of Frontier Communications from a “sell” rating to a “hold” rating in a research note on Tuesday, October 24th. Finally, Bank of America cut shares of Frontier Communications from a “neutral” rating to an “underperform” rating and set a $4.00 price objective for the company. in a research note on Friday, November 10th. Five analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company. Frontier Communications presently has an average rating of “Hold” and a consensus target price of $9.46.

Frontier Communications Corporation (NASDAQ:FTR) opened at $8.41 on Thursday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 5.16. Frontier Communications Corporation has a 12 month low of $6.08 and a 12 month high of $57.30.

Frontier Communications (NASDAQ:FTR) last posted its earnings results on Tuesday, October 31st. The utilities provider reported ($0.94) earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $2.25 billion. During the same period in the previous year, the business posted ($0.64) EPS. The business’s revenue was down 10.8% compared to the same quarter last year. analysts forecast that Frontier Communications Corporation will post -4.17 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 28.54%. The ex-dividend date is Thursday, December 14th. Frontier Communications’s dividend payout ratio is currently -17.38%.

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Frontier Communications 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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