Schroder Investment Management Group Acquires Shares of 241,521 TEGNA Inc. (NYSE:TGNA)

Schroder Investment Management Group acquired a new position in shares of TEGNA Inc. (NYSE:TGNA - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 241,521 shares of the company's stock, valued at approximately $4,429,000. Schroder Investment Management Group owned approximately 0.15% of TEGNA at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its position in shares of 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 acquiring an additional 757 shares during the period. Smartleaf Asset Management LLC boosted its position in TEGNA by 95.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,702 shares of the company's stock worth $31,000 after purchasing an additional 832 shares during the period. Pictet Asset Management Holding SA boosted its position in shares of TEGNA by 4.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 23,193 shares of the company's stock valued at $424,000 after acquiring an additional 910 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of TEGNA by 34.2% in the fourth 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 period. Finally, Sanctuary Advisors LLC raised its stake in TEGNA by 7.4% in the third quarter. Sanctuary Advisors LLC now owns 17,994 shares of the company's stock valued at $284,000 after purchasing an additional 1,239 shares in the last quarter. 92.19% of the stock is owned by institutional investors.

TEGNA Stock Performance

NYSE:TGNA traded down $0.88 during trading hours on Thursday, reaching $16.02. The company had a trading volume of 157,345 shares, compared to its average volume of 2,003,414. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.60 and a quick ratio of 2.60. The firm has a market cap of $2.56 billion, a PE ratio of 5.66 and a beta of 0.25. The business's 50 day moving average price is $17.81 and its 200-day moving average price is $17.67. TEGNA Inc. has a 1-year low of $12.35 and a 1-year high of $19.62.

TEGNA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 7th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend was Friday, March 7th. TEGNA's dividend payout ratio (DPR) is presently 14.12%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TGNA. Wells Fargo & Company upgraded shares of TEGNA from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $21.00 to $23.00 in a report on Thursday, December 19th. Guggenheim restated a "buy" rating and set a $22.00 target price on shares of TEGNA in a research note on Friday, January 24th. Finally, StockNews.com lowered shares of TEGNA from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Two investment 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 currently has a consensus rating of "Moderate Buy" and an average target price of $21.75.

TEGNA 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.