Rhumbline Advisers Has $10.25 Million Stock Position in TEGNA Inc. (NYSE:TGNA)

Rhumbline Advisers lowered its position in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 3.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 560,594 shares of the company's stock after selling 18,493 shares during the quarter. Rhumbline Advisers owned about 0.35% of TEGNA worth $10,253,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of TGNA. Harbor Capital Advisors Inc. bought a new stake in shares of TEGNA during the 3rd quarter valued at about $28,000. GAMMA Investing LLC raised its holdings in TEGNA by 59.0% during the 4th quarter. GAMMA Investing LLC now owns 2,040 shares of the company's stock valued at $37,000 after buying an additional 757 shares during the period. Sound Income Strategies LLC bought a new position in TEGNA in the 4th quarter valued at $57,000. Quarry LP grew its position in TEGNA by 455.2% in the 3rd quarter. Quarry LP now owns 4,025 shares of the company's stock valued at $64,000 after acquiring an additional 3,300 shares during the last quarter. Finally, US Bancorp DE grew its position in shares of TEGNA by 20.4% during the 3rd quarter. US Bancorp DE now owns 4,503 shares of the company's stock worth $71,000 after buying an additional 764 shares in the last quarter. Hedge funds and other institutional investors own 92.19% of the company's stock.

TEGNA Trading Up 8.2 %

TEGNA stock traded up $1.36 during midday trading on Thursday, reaching $17.99. The stock had a trading volume of 2,448,933 shares, compared to its average volume of 1,228,180. The stock's 50-day simple moving average is $18.16 and its 200 day simple moving average is $16.87. The stock has a market capitalization of $2.90 billion, a PE ratio of 6.36 and a beta of 0.52. TEGNA Inc. has a twelve month low of $12.35 and a twelve month high of $19.62. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.60 and a current ratio of 2.60.

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TEGNA (NYSE:TGNA - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.04). TEGNA had a net margin of 16.75% and a return on equity of 14.49%. Analysts expect that TEGNA Inc. will post 3.02 EPS for the current year.

TEGNA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 7th will be given a $0.125 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.50 dividend on an annualized basis and a yield of 2.78%. TEGNA's dividend payout ratio (DPR) is 17.67%.

Analyst Upgrades and Downgrades

A number of research firms have commented on TGNA. Wells Fargo & Company upgraded 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 research note on Thursday, December 19th. StockNews.com raised TEGNA from a "hold" rating to a "buy" rating in a research note on Friday, December 13th. Guggenheim reiterated a "buy" rating and set a $22.00 price objective on shares of TEGNA in a research report on Friday, January 24th. JPMorgan Chase & Co. boosted their price objective on TEGNA from $16.00 to $19.00 and gave the company a "neutral" rating in a report on Tuesday, November 12th. Finally, Benchmark boosted their target price on TEGNA from $21.00 to $23.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $21.75.

About TEGNA

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.