Quantbot Technologies LP increased its position in TEGNA Inc. (NYSE:TGNA - Free Report) by 288.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,783 shares of the company's stock after purchasing an additional 24,333 shares during the quarter. Quantbot Technologies LP's holdings in TEGNA were worth $600,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the company. Thrivent Financial for Lutherans increased its position in TEGNA by 217.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 129,912 shares of the company's stock valued at $2,050,000 after purchasing an additional 88,932 shares during the period. Advisors Asset Management Inc. boosted 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 purchasing an additional 6,782 shares in the last quarter. Intech Investment Management LLC increased its holdings in TEGNA by 179.6% during the third quarter. Intech Investment Management LLC now owns 72,661 shares of the company's stock valued at $1,147,000 after buying an additional 46,678 shares during the period. Charles Schwab Investment Management Inc. raised its stake in TEGNA by 3.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,779,273 shares of the company's stock worth $28,077,000 after buying an additional 53,583 shares in the last quarter. Finally, Cerity Partners LLC lifted its holdings in TEGNA by 82.3% during the third quarter. Cerity Partners LLC now owns 48,504 shares of the company's stock worth $765,000 after buying an additional 21,900 shares during the period. 92.19% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on the company. Guggenheim reiterated a "buy" rating and issued a $22.00 price target on shares of TEGNA in a report on Friday, January 24th. Wells Fargo & Company upgraded TEGNA from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $21.00 to $23.00 in a research note on Thursday, December 19th. Finally, StockNews.com lowered shares of TEGNA from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $21.75.
Read Our Latest Stock Report on TGNA
TEGNA Stock Up 1.7 %
Shares of TEGNA stock traded up $0.32 during trading on Tuesday, reaching $18.54. The company's stock had a trading volume of 2,237,564 shares, compared to its average volume of 1,976,901. TEGNA Inc. has a 1-year low of $12.35 and a 1-year high of $19.62. The company has a 50-day simple moving average of $18.05 and a two-hundred day simple moving average of $17.61. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.07. The company has a market cap of $2.96 billion, a price-to-earnings ratio of 6.55 and a beta of 0.45.
TEGNA Dividend Announcement
The firm 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 dividend of $0.125 per share. The ex-dividend date is Friday, March 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.70%. TEGNA's payout ratio is 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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