TEGNA Inc. (NYSE:TGNA) Shares Acquired by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. lifted its stake in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 13,258.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 227,100 shares of the company's stock after buying an additional 225,400 shares during the period. Hillsdale Investment Management Inc. owned about 0.14% of TEGNA worth $4,154,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. CIBC Asset Management Inc purchased a new position in shares of TEGNA in the third quarter valued at $260,000. Thrivent Financial for Lutherans grew its stake in shares of TEGNA by 217.0% during the third quarter. Thrivent Financial for Lutherans now owns 129,912 shares of the company's stock valued at $2,050,000 after buying an additional 88,932 shares during the last quarter. Segall Bryant & Hamill LLC raised its holdings in TEGNA by 0.7% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 353,586 shares of the company's stock valued at $5,580,000 after buying an additional 2,599 shares during the last quarter. Advisors Asset Management Inc. increased its stake in shares of TEGNA by 194.9% during the third quarter. Advisors Asset Management Inc. now owns 10,262 shares of the company's stock valued at $162,000 after buying an additional 6,782 shares during the period. Finally, Intech Investment Management LLC raised its stake in TEGNA by 179.6% in the third quarter. Intech Investment Management LLC now owns 72,661 shares of the company's stock worth $1,147,000 after buying an additional 46,678 shares in the last quarter. Institutional investors own 92.19% of the company's stock.

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TEGNA Stock Down 2.5 %

Shares of TGNA traded down $0.47 during mid-day trading on Thursday, reaching $18.28. The company's stock had a trading volume of 1,801,107 shares, compared to its average volume of 1,852,708. TEGNA Inc. has a 12-month low of $12.35 and a 12-month high of $19.62. 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 stock has a market cap of $2.92 billion, a PE ratio of 6.46 and a beta of 0.45. The company's 50 day moving average is $18.03 and its 200 day moving average is $17.47.

TEGNA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 7th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.50 dividend on an annualized basis and a yield of 2.73%. TEGNA's payout ratio is 14.12%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on TGNA shares. Guggenheim reaffirmed a "buy" rating and set a $22.00 price target on shares of TEGNA in a report on Friday, January 24th. Wells Fargo & Company upgraded shares of TEGNA from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $21.00 to $23.00 in a report on Thursday, December 19th. Finally, StockNews.com downgraded TEGNA from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, TEGNA has an average rating of "Moderate Buy" and a consensus price target of $21.75.

TEGNA Company 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.