Principal Financial Group Inc. Sells 26,499 Shares of Telephone and Data Systems, Inc. (NYSE:TDS)

Principal Financial Group Inc. lessened its holdings in Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 5.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 459,780 shares of the Wireless communications provider's stock after selling 26,499 shares during the quarter. Principal Financial Group Inc. owned 0.41% of Telephone and Data Systems worth $10,690,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Allspring Global Investments Holdings LLC acquired a new stake in Telephone and Data Systems in the second quarter valued at about $2,369,000. Algert Global LLC boosted its stake in shares of Telephone and Data Systems by 35.8% in the 2nd quarter. Algert Global LLC now owns 220,145 shares of the Wireless communications provider's stock valued at $4,564,000 after purchasing an additional 57,981 shares in the last quarter. 272 Capital LP boosted its stake in shares of Telephone and Data Systems by 51.8% in the 2nd quarter. 272 Capital LP now owns 117,136 shares of the Wireless communications provider's stock valued at $2,428,000 after purchasing an additional 39,976 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of Telephone and Data Systems during the 3rd quarter valued at approximately $1,308,000. Finally, Texas Permanent School Fund Corp increased its position in Telephone and Data Systems by 33.5% during the 2nd quarter. Texas Permanent School Fund Corp now owns 115,142 shares of the Wireless communications provider's stock worth $2,387,000 after purchasing an additional 28,866 shares in the last quarter. Institutional investors own 80.00% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TDS shares. Raymond James upgraded shares of Telephone and Data Systems from a "market perform" rating to an "outperform" rating and set a $51.00 target price on the stock in a research report on Thursday, November 7th. JPMorgan Chase & Co. raised their price objective on Telephone and Data Systems from $39.00 to $40.00 and gave the company an "overweight" rating in a report on Monday, November 4th.

Telephone and Data Systems Trading Down 2.4 %

Shares of Telephone and Data Systems stock traded down $0.83 on Monday, hitting $34.01. The stock had a trading volume of 710,802 shares, compared to its average volume of 1,087,671. The stock has a 50 day moving average of $32.33 and a 200 day moving average of $25.59. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.44 and a current ratio of 1.59. Telephone and Data Systems, Inc. has a twelve month low of $13.69 and a twelve month high of $35.39. The firm has a market capitalization of $3.84 billion, a P/E ratio of -6.30 and a beta of 0.81.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last released its quarterly earnings results on Friday, November 1st. The Wireless communications provider reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.19. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.24 billion. Telephone and Data Systems had a negative net margin of 10.72% and a positive return on equity of 1.12%. The company's revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.16) earnings per share. Sell-side analysts expect that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current fiscal year.

Telephone and Data Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.16 annualized dividend and a dividend yield of 0.47%. Telephone and Data Systems's payout ratio is -2.96%.

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.