Legal & General Group Plc Has $14.67 Million Position in Frontier Communications Parent, Inc. (NASDAQ:FYBR)

Legal & General Group Plc trimmed its position in Frontier Communications Parent, Inc. (NASDAQ:FYBR) by 1.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 422,823 shares of the company’s stock after selling 5,652 shares during the quarter. Legal & General Group Plc owned 0.17% of Frontier Communications Parent worth $14,672,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. increased its position in Frontier Communications Parent by 68.0% during the fourth quarter. UMB Bank n.a. now owns 1,050 shares of the company’s stock worth $36,000 after acquiring an additional 425 shares during the period. Russell Investments Group Ltd. grew its position in shares of Frontier Communications Parent by 37.9% during the 4th quarter. Russell Investments Group Ltd. now owns 5,091 shares of the company’s stock worth $177,000 after purchasing an additional 1,399 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Frontier Communications Parent by 36.8% during the fourth quarter. Blue Trust Inc. now owns 5,883 shares of the company’s stock worth $209,000 after purchasing an additional 1,581 shares during the period. Impact Partnership Wealth LLC acquired a new stake in shares of Frontier Communications Parent in the fourth quarter valued at approximately $228,000. Finally, Vestcor Inc acquired a new stake in shares of Frontier Communications Parent in the fourth quarter valued at approximately $234,000.

Frontier Communications Parent Price Performance

FYBR stock opened at $35.83 on Wednesday. The stock has a market cap of $8.97 billion, a price-to-earnings ratio of -27.78 and a beta of 1.01. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.77 and a quick ratio of 0.77. The company has a 50 day simple moving average of $35.82 and a 200 day simple moving average of $35.41. Frontier Communications Parent, Inc. has a 1 year low of $21.31 and a 1 year high of $39.21.

Frontier Communications Parent (NASDAQ:FYBR) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.28). Frontier Communications Parent had a negative return on equity of 6.25% and a negative net margin of 5.42%. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.47 billion. Research analysts anticipate that Frontier Communications Parent, Inc. will post -1.11 EPS for the current fiscal year.

Insider Buying and Selling at Frontier Communications Parent

In related news, EVP John Harrobin sold 36,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $36.01, for a total value of $1,296,360.00. Following the completion of the transaction, the executive vice president now owns 76,523 shares in the company, valued at $2,755,593.23. This trade represents a 31.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FYBR. Raymond James downgraded Frontier Communications Parent from a “market perform” rating to an “underperform” rating in a research report on Thursday, February 6th. New Street Research downgraded Frontier Communications Parent from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 21st. Finally, Benchmark reaffirmed a “hold” rating on shares of Frontier Communications Parent in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, Frontier Communications Parent currently has an average rating of “Hold” and a consensus target price of $36.07.

About Frontier Communications Parent

Frontier Communications Parent, Inc, together with its subsidiaries, provides communication and technology services in the United States. It offers broadband, video, voice, and other value-added services. The company also provides data and Internet, including broadband networking services; data-based voice over internet protocol, unified communications, long-distance, and voice messaging services; video services under the Frontier TV brand; access services; hardware and network solutions; and packages of services.