Ontario Teachers Pension Plan Board reduced its stake in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 23.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 83,180 shares of the company's stock after selling 26,066 shares during the quarter. Ontario Teachers Pension Plan Board owned 0.05% of TEGNA worth $1,521,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Geode Capital Management LLC boosted its holdings 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 purchasing an additional 238,696 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of TEGNA by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,873,167 shares of the company's stock valued at $34,260,000 after buying an additional 93,894 shares during the last quarter. Principal Financial Group Inc. grew 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 buying an additional 20,129 shares in the last quarter. Invesco Ltd. increased its stake in shares of TEGNA by 14.6% in the fourth quarter. Invesco Ltd. now owns 866,076 shares of the company's stock worth $15,841,000 after buying an additional 110,646 shares during the last quarter. Finally, Capital Management Corp VA increased 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 worth $13,911,000 after buying an additional 34,785 shares during the last quarter. 92.19% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
TGNA has been the subject of several recent analyst reports. StockNews.com lowered shares of TEGNA from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Guggenheim decreased their price target on TEGNA from $22.00 to $20.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, TEGNA currently has an average rating of "Moderate Buy" and an average price target of $21.25.
Read Our Latest Report on TGNA
TEGNA Stock Performance
Shares of NYSE:TGNA traded up $0.32 on Friday, reaching $16.08. 1,765,289 shares of the company's stock were exchanged, compared to its average volume of 2,021,658. The business's 50-day moving average is $17.48 and its two-hundred day moving average is $17.67. 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 fifty-two week low of $12.35 and a fifty-two week high of $19.62. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of 5.68 and a beta of 0.25.
TEGNA Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders 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 3.11%. TEGNA's payout ratio is currently 14.12%.
TEGNA 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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