TEGNA Inc. (NYSE:TGNA) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas grew its position in TEGNA Inc. (NYSE:TGNA - Free Report) by 84.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 205,660 shares of the company's stock after acquiring an additional 94,356 shares during the period. Teacher Retirement System of Texas owned about 0.13% of TEGNA worth $3,762,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. GAMMA Investing LLC grew its stake 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 acquiring an additional 757 shares in the last quarter. Smartleaf Asset Management LLC raised its position in TEGNA by 95.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,702 shares of the company's stock valued at $31,000 after purchasing an additional 832 shares during the period. PNC Financial Services Group Inc. raised its holdings in TEGNA by 34.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,364 shares of the company's stock valued at $80,000 after buying an additional 1,111 shares during the period. Sanctuary Advisors LLC lifted its holdings in shares of TEGNA by 7.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 17,994 shares of the company's stock worth $284,000 after acquiring an additional 1,239 shares during the last quarter. Finally, Jones Financial Companies Lllp purchased a new position in shares of TEGNA during the fourth quarter worth $27,000. 92.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TGNA. StockNews.com lowered shares of TEGNA from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Guggenheim reiterated a "buy" rating and issued a $22.00 price objective on shares of TEGNA in a research note on Friday, January 24th. Finally, 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 report on Thursday, December 19th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $21.75.

Remove Ads

TEGNA Stock Down 1.1 %

Shares of NYSE:TGNA traded down $0.20 during trading hours on Friday, reaching $18.10. The stock had a trading volume of 1,450,090 shares, compared to its average volume of 1,977,225. TEGNA Inc. has a 1 year low of $12.35 and a 1 year high of $19.62. The firm's 50 day moving average is $18.03 and its 200-day moving average is $17.50. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of 6.39 and a beta of 0.45. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.60 and a current ratio of 2.60.

TEGNA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 7th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend is Friday, March 7th. TEGNA's dividend payout ratio is presently 14.12%.

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.