Principal Financial Group Inc. lifted its holdings in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 26.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 891,488 shares of the company's stock after acquiring an additional 184,845 shares during the quarter. Principal Financial Group Inc. owned 0.53% of TEGNA worth $14,068,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Seven Eight Capital LP bought a new position in shares of TEGNA during the first quarter worth about $2,526,000. Dimensional Fund Advisors LP increased its holdings in shares of TEGNA by 1.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 10,309,749 shares of the company's stock valued at $143,714,000 after acquiring an additional 141,638 shares during the last quarter. Capital Management Corp VA raised its position in shares of TEGNA by 30.3% during the 3rd quarter. Capital Management Corp VA now owns 725,805 shares of the company's stock valued at $11,453,000 after acquiring an additional 168,667 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in TEGNA by 9,100.0% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 184,000 shares of the company's stock worth $2,749,000 after purchasing an additional 182,000 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in TEGNA in the third quarter worth $626,000. Institutional investors and hedge funds own 92.19% of the company's stock.
TEGNA Stock Performance
Shares of TEGNA stock traded down $0.47 on Friday, reaching $17.64. The stock had a trading volume of 1,814,059 shares, compared to its average volume of 1,913,112. TEGNA Inc. has a fifty-two week low of $12.35 and a fifty-two week high of $19.62. The business's 50-day moving average price is $16.05 and its two-hundred day moving average price is $14.96. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.60 and a current ratio of 2.60. The stock has a market cap of $2.84 billion, a P/E ratio of 6.23 and a beta of 0.49.
TEGNA (NYSE:TGNA - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.11. The firm had revenue of $806.83 million during the quarter, compared to the consensus estimate of $795.72 million. TEGNA had a return on equity of 14.49% and a net margin of 16.75%. The firm's revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.39 EPS. On average, sell-side analysts forecast that TEGNA Inc. will post 3.02 EPS for the current year.
Insider Buying and Selling
In related news, COO Lynn B. Trelstad sold 25,000 shares of the firm's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $13.88, for a total value of $347,000.00. Following the completion of the transaction, the chief operating officer now directly owns 179,617 shares of the company's stock, valued at $2,493,083.96. This trade represents a 12.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.88% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the stock. Benchmark raised their target price on shares of TEGNA from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Friday, November 8th. StockNews.com upgraded shares of TEGNA from a "hold" rating to a "buy" rating in a research report on Friday. Finally, JPMorgan Chase & Co. increased their price objective on shares of TEGNA from $16.00 to $19.00 and gave the company a "neutral" rating in a report on Tuesday, November 12th.
Read Our Latest Report on TGNA
TEGNA Profile
(
Free Report)
TEGNA Inc, a media company, provides broadcast advertising and marketing products and services for businesses. The company operates 47 television stations in 39 markets of the United States that produce local programming, such as news, sports, and entertainment. It offers local and national non-political advertising; political advertising; production of programming from third parties; production of advertising materials; and digital marketing services, as well as advertising services on the stations' Websites, tablets, and mobile products.
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