Illinois Municipal Retirement Fund bought a new position in shares of TEGNA Inc. (NYSE:TGNA - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 88,176 shares of the company's stock, valued at approximately $1,613,000. Illinois Municipal Retirement Fund owned about 0.05% of TEGNA at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings in TEGNA by 26.2% in the third quarter. Principal Financial Group Inc. now owns 891,488 shares of the company's stock valued at $14,068,000 after acquiring an additional 184,845 shares during the period. Capital Management Corp VA increased its holdings in shares of TEGNA by 30.3% during the 3rd quarter. Capital Management Corp VA now owns 725,805 shares of the company's stock valued at $11,453,000 after purchasing an additional 168,667 shares in the last quarter. EMC Capital Management increased its holdings in shares of TEGNA by 648.8% during the 4th quarter. EMC Capital Management now owns 20,346 shares of the company's stock valued at $372,000 after purchasing an additional 17,629 shares in the last quarter. Guidance Capital Inc. acquired a new position in shares of TEGNA in the 4th quarter valued at $476,000. Finally, World Investment Advisors LLC purchased a new stake in TEGNA during the third quarter worth $528,000. Hedge funds and other institutional investors own 92.19% of the company's stock.
TEGNA Price Performance
TEGNA stock traded down $0.39 during midday trading on Tuesday, reaching $17.37. The company had a trading volume of 1,438,091 shares, compared to its average volume of 1,280,765. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.60 and a quick ratio of 2.60. TEGNA Inc. has a 12-month low of $12.35 and a 12-month high of $19.62. The company has a market capitalization of $2.80 billion, a P/E ratio of 6.13 and a beta of 0.52. The firm's fifty day simple moving average is $18.14 and its 200-day simple moving average is $16.99.
TEGNA Dividend Announcement
The company 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 $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend is Friday, March 7th. TEGNA's dividend payout ratio is presently 14.12%.
Analysts Set New Price Targets
A number of research analysts have weighed in on the stock. Wells Fargo & Company raised shares of TEGNA from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $21.00 to $23.00 in a report on Thursday, December 19th. StockNews.com lowered TEGNA from a "buy" rating to a "hold" rating in a research note on Friday. Guggenheim reiterated a "buy" rating and set a $22.00 price target on shares of TEGNA in a research report on Friday, January 24th. Benchmark raised their price objective on TEGNA from $21.00 to $23.00 and gave the company a "buy" rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. upped their target price on TEGNA from $16.00 to $19.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 12th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $21.75.
Get Our Latest Research Report on TEGNA
TEGNA Company 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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