Legal & General Group Plc Invests $583.67 Million in T-Mobile US, Inc. $TMUS

Legal & General Group Plc acquired a new stake in T-Mobile US, Inc. (NASDAQ:TMUS) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,479,851 shares of the Wireless communications provider’s stock, valued at approximately $583,675,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Sei Investments Co. increased its position in shares of T-Mobile US by 6.3% during the 2nd quarter. Sei Investments Co. now owns 142,587 shares of the Wireless communications provider’s stock valued at $33,972,000 after purchasing an additional 8,491 shares during the period. Diversify Advisory Services LLC lifted its holdings in shares of T-Mobile US by 315.7% in the second quarter. Diversify Advisory Services LLC now owns 4,548 shares of the Wireless communications provider’s stock valued at $1,147,000 after buying an additional 3,454 shares during the period. Darwin Wealth Management LLC acquired a new stake in shares of T-Mobile US in the second quarter valued at $375,000. Raymond James Financial Inc. lifted its holdings in shares of T-Mobile US by 0.5% in the second quarter. Raymond James Financial Inc. now owns 2,054,144 shares of the Wireless communications provider’s stock valued at $489,420,000 after buying an additional 9,568 shares during the period. Finally, Viking Global Investors LP boosted its stake in T-Mobile US by 81.7% during the second quarter. Viking Global Investors LP now owns 2,845,316 shares of the Wireless communications provider’s stock valued at $677,925,000 after buying an additional 1,279,422 shares in the last quarter. 42.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TMUS. Oppenheimer raised T-Mobile US from a “market perform” rating to an “outperform” rating and set a $260.00 target price on the stock in a report on Wednesday, April 29th. Arete Research raised their price objective on shares of T-Mobile US from $295.00 to $300.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Benchmark reduced their price objective on shares of T-Mobile US from $295.00 to $280.00 and set a “buy” rating for the company in a research report on Friday, July 24th. KeyCorp lowered their price objective on shares of T-Mobile US from $260.00 to $250.00 and set an “overweight” rating on the stock in a research note on Friday, July 24th. Finally, TD Cowen dropped their target price on shares of T-Mobile US from $261.00 to $260.00 and set a “buy” rating on the stock in a report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, T-Mobile US has an average rating of “Moderate Buy” and a consensus price target of $252.08.

T-Mobile US Stock Performance

Shares of NASDAQ TMUS opened at $182.62 on Tuesday. The stock’s fifty day simple moving average is $181.29 and its 200 day simple moving average is $193.87. The stock has a market capitalization of $195.89 billion, a price-to-earnings ratio of 19.12, a PEG ratio of 1.03 and a beta of 0.33. The company has a quick ratio of 0.83, a current ratio of 0.92 and a debt-to-equity ratio of 1.48. T-Mobile US, Inc. has a 52-week low of $165.66 and a 52-week high of $258.66.

T-Mobile US (NASDAQ:TMUS) last announced its earnings results on Thursday, July 23rd. The Wireless communications provider reported $2.99 EPS for the quarter, beating the consensus estimate of $2.59 by $0.40. T-Mobile US had a return on equity of 20.16% and a net margin of 11.45%.The business had revenue of $22.79 billion during the quarter, compared to the consensus estimate of $22.95 billion. During the same period in the prior year, the business posted $2.84 earnings per share. T-Mobile US’s revenue was up 7.9% compared to the same quarter last year. As a group, sell-side analysts forecast that T-Mobile US, Inc. will post 10.73 earnings per share for the current fiscal year.

T-Mobile US Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 28th will be issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 2.2%. The ex-dividend date is Friday, August 28th. T-Mobile US’s payout ratio is presently 42.72%.

T-Mobile US Profile

T-Mobile US is a national wireless carrier that provides mobile voice, messaging and data services to consumers, businesses and wholesale customers across the United States, Puerto Rico and the U.S. Virgin Islands. The company operates a nationwide mobile network and offers device sales, equipment financing and support services through retail stores, online channels and distribution partners. T-Mobile positions its products around bundled service plans, device offerings and value-added features for both individual and enterprise customers.

Product offerings include postpaid and prepaid wireless plans under the T-Mobile and Metro by T-Mobile brands, as well as connectivity solutions for small and large businesses.