Principal Financial Group Inc. Grows Stock Position in TEGNA Inc. (NYSE:TGNA)

Principal Financial Group Inc. boosted its position in TEGNA Inc. (NYSE:TGNAGet Rating) by 3.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 860,043 shares of the company’s stock after buying an additional 25,668 shares during the quarter. Principal Financial Group Inc.’s holdings in TEGNA were worth $18,035,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. State of Alaska Department of Revenue increased its position in TEGNA by 2.1% in the second quarter. State of Alaska Department of Revenue now owns 31,795 shares of the company’s stock worth $666,000 after buying an additional 665 shares during the last quarter. Kendall Capital Management grew its position in shares of TEGNA by 0.5% in the second quarter. Kendall Capital Management now owns 135,890 shares of the company’s stock valued at $2,850,000 after purchasing an additional 680 shares in the last quarter. Shell Asset Management Co. grew its position in shares of TEGNA by 2.1% in the second quarter. Shell Asset Management Co. now owns 33,791 shares of the company’s stock valued at $709,000 after purchasing an additional 699 shares in the last quarter. Exchange Traded Concepts LLC grew its position in shares of TEGNA by 71.9% in the second quarter. Exchange Traded Concepts LLC now owns 1,781 shares of the company’s stock valued at $37,000 after purchasing an additional 745 shares in the last quarter. Finally, Heritage Financial Services LLC purchased a new position in shares of TEGNA in the second quarter valued at $26,000. 90.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on TEGNA in a research report on Wednesday, October 12th. They issued a “buy” rating for the company.

TEGNA Price Performance

Shares of NYSE TGNA opened at $19.50 on Wednesday. The stock has a market cap of $4.35 billion, a PE ratio of 8.06 and a beta of 0.74. TEGNA Inc. has a fifty-two week low of $17.94 and a fifty-two week high of $23.04. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.71 and a current ratio of 2.71. The stock has a fifty day moving average of $20.56 and a 200-day moving average of $20.93.

TEGNA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Friday, December 9th will be paid a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Thursday, December 8th. TEGNA’s dividend payout ratio is 15.70%.

TEGNA Company Profile

(Get Rating)

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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Institutional Ownership by Quarter for TEGNA (NYSE:TGNA)

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