Natixis Advisors LLC acquired a new position in 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 institutional investor acquired 15,256 shares of the company's stock, valued at approximately $279,000.
Other hedge funds have also made changes to their positions in the company. State Street Corp lifted its position in TEGNA by 3.5% during the 3rd quarter. State Street Corp now owns 8,194,619 shares of the company's stock worth $129,991,000 after acquiring an additional 276,699 shares in the last quarter. Geode Capital Management LLC grew its position in TEGNA by 5.1% in the third quarter. Geode Capital Management LLC now owns 4,905,588 shares of the company's stock valued at $77,422,000 after acquiring an additional 238,696 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake 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 valued at $34,260,000 after purchasing an additional 93,894 shares during the period. Principal Financial Group Inc. lifted its position in shares of TEGNA by 2.3% during the fourth quarter. Principal Financial Group Inc. now owns 911,617 shares of the company's stock worth $16,673,000 after purchasing an additional 20,129 shares in the last quarter. Finally, Capital Management Corp VA boosted its stake in shares of TEGNA by 4.8% in the fourth quarter. Capital Management Corp VA now owns 760,590 shares of the company's stock valued at $13,911,000 after purchasing an additional 34,785 shares during the period. Hedge funds and other institutional investors own 92.19% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the stock. StockNews.com downgraded shares of TEGNA from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Guggenheim reaffirmed a "buy" rating and set a $22.00 target price on shares of TEGNA in a research report on Friday, January 24th. Finally, Wells Fargo & Company raised TEGNA from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $21.00 to $23.00 in a report on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $21.75.
Get Our Latest Stock Analysis on TEGNA
TEGNA Stock Up 2.3 %
TGNA stock traded up $0.43 during mid-day trading on Wednesday, hitting $18.96. 2,574,266 shares of the company were exchanged, compared to its average volume of 1,981,029. The firm has a fifty day simple moving average of $18.08 and a 200 day simple moving average of $17.62. The company has a market capitalization of $3.03 billion, a PE ratio of 6.70 and a beta of 0.25. TEGNA Inc. has a twelve month low of $12.35 and a twelve month high of $19.62. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.07.
TEGNA Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 7th were paid a $0.125 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.50 dividend on an annualized basis and a yield of 2.64%. TEGNA's dividend payout ratio (DPR) is 14.12%.
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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