Principal Financial Group Inc. lifted its stake in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 2.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 911,617 shares of the company's stock after buying an additional 20,129 shares during the quarter. Principal Financial Group Inc. owned about 0.57% of TEGNA worth $16,673,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. increased its holdings in shares of TEGNA by 2,898.4% in the 3rd quarter. Pacer Advisors Inc. now owns 10,806,130 shares of the company's stock valued at $170,521,000 after acquiring an additional 10,445,739 shares during the period. State Street Corp increased its holdings in shares of TEGNA by 3.5% in the 3rd quarter. State Street Corp now owns 8,194,619 shares of the company's stock valued at $129,991,000 after acquiring an additional 276,699 shares during the period. Geode Capital Management LLC increased its holdings in shares of TEGNA by 5.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,905,588 shares of the company's stock valued at $77,422,000 after acquiring an additional 238,696 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of TEGNA by 3.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,779,273 shares of the company's stock valued at $28,077,000 after acquiring an additional 53,583 shares during the period. Finally, Capital Management Corp VA increased its holdings in shares of TEGNA by 30.3% in 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 during the period. Hedge funds and other institutional investors own 92.19% of the company's stock.
TEGNA Stock Performance
TGNA traded up $0.23 during trading on Friday, hitting $18.17. The stock had a trading volume of 2,310,366 shares, compared to its average volume of 1,255,930. 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 firm has a market capitalization of $2.93 billion, a P/E ratio of 6.42 and a beta of 0.52. The company's 50-day moving average price is $18.16 and its 200 day moving average price is $16.88. TEGNA Inc. has a twelve month low of $12.35 and a twelve month high of $19.62.
TEGNA Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 7th will be paid a dividend of $0.125 per share. The ex-dividend date is Friday, March 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.75%. TEGNA's dividend payout ratio (DPR) is presently 17.67%.
Analyst Upgrades and Downgrades
TGNA has been the topic of a number of recent research reports. Guggenheim reaffirmed a "buy" rating and issued a $22.00 target price on shares of TEGNA in a report on Friday, January 24th. JPMorgan Chase & Co. lifted their target price on shares of TEGNA from $16.00 to $19.00 and gave the company a "neutral" rating in a report on Tuesday, November 12th. Benchmark lifted their target price on shares of TEGNA from $21.00 to $23.00 and gave the company a "buy" rating in a report on Friday, November 8th. StockNews.com cut shares of TEGNA from a "buy" rating to a "hold" rating in a research note on Friday. Finally, Wells Fargo & Company raised shares of TEGNA from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $21.00 to $23.00 in a research note on Thursday, December 19th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, TEGNA currently has a consensus rating of "Moderate Buy" and a consensus price target of $21.75.
Check Out Our Latest Stock Report on TEGNA
TEGNA Profile
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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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