Pinebridge Investments L.P. raised its holdings in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 42.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 112,024 shares of the company's stock after buying an additional 33,512 shares during the period. Pinebridge Investments L.P. owned about 0.07% of TEGNA worth $2,049,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Tower Research Capital LLC TRC grew its position in TEGNA by 80.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,683 shares of the company's stock valued at $31,000 after acquiring an additional 749 shares in the last quarter. GAMMA Investing LLC lifted its holdings in TEGNA by 59.0% in the 4th quarter. GAMMA Investing LLC now owns 2,040 shares of the company's stock worth $37,000 after buying an additional 757 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of TEGNA by 95.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,702 shares of the company's stock valued at $31,000 after acquiring an additional 832 shares in the last quarter. Pictet Asset Management Holding SA grew its stake in shares of TEGNA by 4.1% during 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 in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of TEGNA by 34.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,364 shares of the company's stock worth $80,000 after acquiring an additional 1,111 shares during the last quarter. 92.19% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on the company. StockNews.com lowered TEGNA from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Guggenheim dropped their price target on shares of TEGNA from $22.00 to $20.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, TEGNA presently has a consensus rating of "Moderate Buy" and an average target price of $21.25.
Check Out Our Latest Analysis on TEGNA
TEGNA Stock Performance
Shares of TGNA opened at $16.17 on Monday. The stock has a market capitalization of $2.60 billion, a PE ratio of 5.71 and a beta of 0.25. The business's fifty day moving average price is $17.26 and its 200 day moving average price is $17.72. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.60 and a quick ratio of 2.60. TEGNA Inc. has a 12-month low of $12.35 and a 12-month high of $19.62.
TEGNA Dividend Announcement
The firm also recently declared 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 of this dividend was Friday, March 7th. TEGNA's dividend payout ratio (DPR) is presently 14.12%.
TEGNA Company 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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