Principal Financial Group Inc. Has $18.82 Million Stake in Telephone and Data Systems, Inc. (NYSE:TDS)

Principal Financial Group Inc. boosted its position in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 2.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 485,690 shares of the Wireless communications provider's stock after buying an additional 12,702 shares during the period. Principal Financial Group Inc. owned approximately 0.43% of Telephone and Data Systems worth $18,816,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Third Point LLC grew its stake in Telephone and Data Systems by 108.7% during the fourth quarter. Third Point LLC now owns 6,000,000 shares of the Wireless communications provider's stock worth $204,660,000 after buying an additional 3,125,000 shares in the last quarter. American Century Companies Inc. grew its stake in Telephone and Data Systems by 6.7% during the fourth quarter. American Century Companies Inc. now owns 3,229,568 shares of the Wireless communications provider's stock worth $110,161,000 after buying an additional 203,897 shares in the last quarter. Gabelli Funds LLC lifted its holdings in shares of Telephone and Data Systems by 1.1% in the fourth quarter. Gabelli Funds LLC now owns 1,899,767 shares of the Wireless communications provider's stock worth $64,801,000 after acquiring an additional 20,721 shares during the last quarter. Carronade Capital Management LP bought a new position in shares of Telephone and Data Systems in the fourth quarter worth about $62,845,000. Finally, Silver Point Capital L.P. lifted its holdings in shares of Telephone and Data Systems by 47.2% in the fourth quarter. Silver Point Capital L.P. now owns 1,840,000 shares of the Wireless communications provider's stock worth $62,762,000 after acquiring an additional 590,000 shares during the last quarter. 80.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on TDS. JPMorgan Chase & Co. dropped their target price on shares of Telephone and Data Systems from $56.00 to $53.00 and set an "overweight" rating for the company in a report on Wednesday, May 28th. Raymond James Financial reissued an "outperform" rating and issued a $47.00 target price (down previously from $51.00) on shares of Telephone and Data Systems in a report on Monday, May 5th. Finally, Wall Street Zen cut shares of Telephone and Data Systems from a "hold" rating to a "sell" rating in a report on Friday, May 30th.

Telephone and Data Systems Stock Up 0.9%

TDS stock opened at $39.47 on Friday. The stock has a market capitalization of $4.50 billion, a P/E ratio of -37.59 and a beta of 0.51. The company has a current ratio of 1.74, a quick ratio of 1.55 and a debt-to-equity ratio of 0.85. Telephone and Data Systems, Inc. has a 12 month low of $17.90 and a 12 month high of $41.21. The firm has a 50-day moving average price of $34.61 and a 200-day moving average price of $35.55.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The Wireless communications provider reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.07). The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.18 billion. Telephone and Data Systems had a negative net margin of 1.03% and a positive return on equity of 0.73%. The firm's quarterly revenue was down 8.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.10 EPS. As a group, equities research analysts anticipate that Telephone and Data Systems, Inc. will post -0.31 EPS for the current fiscal year.

Telephone and Data Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were issued a $0.04 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.16 dividend on an annualized basis and a yield of 0.41%. Telephone and Data Systems's dividend payout ratio (DPR) is presently -15.24%.

About Telephone and Data Systems

Telephone and Data Systems, Inc, a telecommunications company, provides communications services in the United States. It operates through two segments: UScellular and TDS Telecom. The company offers wireless solutions to consumers, and business and government customers, including a suite of connected Internet of things (IoT) solutions, and software applications for monitor and control, business automation/operations, communication, fleet and asset management, smart water solutions, private cellular networks and custom, and end-to-end IoT solutions; wireless priority services and quality priority and preemption options; smartphones and other handsets, tablets, wearables, mobile hotspots, fixed wireless home internet, and IoT devices; and accessories, such as cases, screen protectors, chargers, and memory cards, as well as consumer electronics, including audio, home automation and networking products.

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