Cibc World Markets Corp Invests $283,000 in TEGNA Inc. (NYSE:TGNA)

Cibc World Markets Corp acquired a new stake in TEGNA Inc. (NYSE:TGNA - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 15,494 shares of the company's stock, valued at approximately $283,000.

A number of other institutional investors also recently bought and sold shares of the stock. Jones Financial Companies Lllp purchased a new position in shares of TEGNA in the fourth quarter worth about $27,000. Smartleaf Asset Management LLC boosted its holdings in shares of TEGNA by 95.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,702 shares of the company's stock valued at $31,000 after acquiring an additional 832 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of TEGNA by 59.0% in the fourth quarter. GAMMA Investing LLC now owns 2,040 shares of the company's stock worth $37,000 after acquiring an additional 757 shares during the period. Sound Income Strategies LLC acquired a new position in TEGNA during the fourth quarter valued at $57,000. Finally, Quarry LP boosted its holdings in TEGNA by 455.2% in the third quarter. Quarry LP now owns 4,025 shares of the company's stock valued at $64,000 after purchasing an additional 3,300 shares during the last quarter. 92.19% of the stock is currently owned by institutional investors and hedge funds.

TEGNA Price Performance

Shares of TEGNA stock traded down $0.20 on Friday, hitting $18.10. 1,450,090 shares of the company were exchanged, compared to its average volume of 1,977,089. The company has a 50-day moving average price of $18.03 and a 200 day moving average price of $17.52. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of 6.39 and a beta of 0.45. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.07. TEGNA Inc. has a 1-year low of $12.35 and a 1-year high of $19.62.

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TEGNA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 7th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend is Friday, March 7th. TEGNA's payout ratio is currently 14.12%.

Analyst Ratings Changes

TGNA has been the topic of several analyst reports. Guggenheim reaffirmed a "buy" rating and set a $22.00 target price on shares of TEGNA in a report on Friday, January 24th. Wells Fargo & Company upgraded 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 report on Thursday, December 19th. Finally, StockNews.com lowered shares of TEGNA from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $21.75.

TEGNA Profile

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.