Barclays PLC Purchases 106,123 Shares of TEGNA Inc. (NYSE:TGNA)

Barclays PLC raised its stake in TEGNA Inc. (NYSE:TGNA - Free Report) by 34.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 412,732 shares of the company's stock after buying an additional 106,123 shares during the period. Barclays PLC owned approximately 0.26% of TEGNA worth $7,549,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in shares of TEGNA by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,873,167 shares of the company's stock worth $34,260,000 after buying an additional 93,894 shares during the period. Principal Financial Group Inc. increased its stake in shares of TEGNA by 2.3% in 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 during the last quarter. Invesco Ltd. boosted its stake in TEGNA by 14.6% during the 4th quarter. Invesco Ltd. now owns 866,076 shares of the company's stock valued at $15,841,000 after acquiring an additional 110,646 shares during the last quarter. Capital Management Corp VA increased its holdings in TEGNA by 4.8% in the fourth quarter. Capital Management Corp VA now owns 760,590 shares of the company's stock valued at $13,911,000 after buying an additional 34,785 shares during the last quarter. Finally, Muhlenkamp & Co. Inc. lifted its stake in TEGNA by 0.3% during the fourth quarter. Muhlenkamp & Co. Inc. now owns 691,332 shares of the company's stock worth $12,644,000 after purchasing an additional 1,796 shares during the last quarter. Institutional investors and hedge funds own 92.19% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Guggenheim dropped their price target on TEGNA from $22.00 to $20.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. StockNews.com cut 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 assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $21.25.

TEGNA Stock Performance

Shares of TGNA stock traded up $0.10 during trading hours on Friday, reaching $16.17. 805,802 shares of the company's stock were exchanged, compared to its average volume of 2,022,755. The business has a fifty day moving average price of $17.26 and a 200-day moving average price of $17.71. The stock has a market capitalization of $2.60 billion, a P/E ratio of 5.71 and a beta of 0.25. 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.

TEGNA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 7th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 3.09%. The ex-dividend date was Friday, March 7th. TEGNA's payout ratio is 14.12%.

TEGNA Company 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.