KLP Kapitalforvaltning AS Makes New $1.69 Million Investment in TEGNA Inc. (NYSE:TGNA)

KLP Kapitalforvaltning AS bought a new stake in TEGNA Inc. (NYSE:TGNA - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 92,000 shares of the company's stock, valued at approximately $1,692,000. KLP Kapitalforvaltning AS owned about 0.06% of TEGNA as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in shares of TEGNA by 59.0% during the fourth quarter. GAMMA Investing LLC now owns 2,040 shares of the company's stock worth $37,000 after buying an additional 757 shares during the period. Smartleaf Asset Management LLC raised its stake in TEGNA by 95.6% during 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. PNC Financial Services Group Inc. raised its stake in TEGNA by 34.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,364 shares of the company's stock valued at $80,000 after acquiring an additional 1,111 shares during the last quarter. Sanctuary Advisors LLC lifted its position in TEGNA by 7.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 17,994 shares of the company's stock worth $284,000 after acquiring an additional 1,239 shares during the period. Finally, Jones Financial Companies Lllp purchased a new position in shares of TEGNA in the 4th quarter valued at approximately $27,000. 92.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Wells Fargo & Company upgraded TEGNA from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $21.00 to $23.00 in a research note on Thursday, December 19th. StockNews.com downgraded shares of TEGNA from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $22.00 target price on shares of TEGNA in a report on Friday, January 24th. 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, TEGNA presently has a consensus rating of "Moderate Buy" and a consensus price target of $21.75.

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TEGNA Price Performance

NYSE TGNA traded up $0.43 during trading hours on Wednesday, reaching $18.96. The company's stock had a trading volume of 2,574,266 shares, compared to its average volume of 1,981,029. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.60 and a current ratio of 2.60. The company's 50-day moving average is $18.08 and its two-hundred day moving average is $17.62. TEGNA Inc. has a fifty-two week low of $12.35 and a fifty-two week high of $19.62. The stock has a market cap of $3.03 billion, a PE ratio of 6.70 and a beta of 0.25.

TEGNA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 7th were given a dividend of $0.125 per share. The ex-dividend date was Friday, March 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.64%. TEGNA's dividend payout ratio is currently 14.12%.

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.