Russell Investments Group Ltd. Has $2.35 Million Stake in TEGNA Inc. (NYSE:TGNA)

Russell Investments Group Ltd. lowered its holdings in shares of TEGNA Inc. (NYSE:TGNA) by 8.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 128,365 shares of the company’s stock after selling 11,590 shares during the quarter. Russell Investments Group Ltd. owned 0.08% of TEGNA worth $2,348,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. raised its holdings in TEGNA by 26.2% during the 3rd quarter. Principal Financial Group Inc. now owns 891,488 shares of the company’s stock worth $14,068,000 after buying an additional 184,845 shares during the period. EMC Capital Management increased its position in shares of TEGNA by 648.8% during the fourth quarter. EMC Capital Management now owns 20,346 shares of the company’s stock worth $372,000 after acquiring an additional 17,629 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of TEGNA by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,873,167 shares of the company’s stock worth $34,260,000 after acquiring an additional 93,894 shares during the period. Guidance Capital Inc. bought a new stake in TEGNA in the 4th quarter valued at $476,000. Finally, World Investment Advisors LLC bought a new stake in TEGNA in the 3rd quarter valued at $528,000. Institutional investors own 92.19% of the company’s stock.

Wall Street Analyst Weigh In

TGNA has been the topic of several recent research reports. Guggenheim dropped their price target on TEGNA from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. StockNews.com cut TEGNA from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.25.

TEGNA Trading Up 2.0 %

TEGNA stock opened at $16.08 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.60 and a quick ratio of 2.60. The firm has a 50-day moving average of $17.48 and a 200-day moving average of $17.67. The company has a market cap of $2.58 billion, a price-to-earnings ratio of 5.68 and a beta of 0.25. TEGNA Inc. has a one year low of $12.35 and a one year high of $19.62.

TEGNA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 7th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend was Friday, March 7th. TEGNA’s dividend payout ratio (DPR) is 14.12%.

About TEGNA

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.