Vanguard Group Inc. Has $471.72 Million Position in TEGNA Inc. (NYSE:TGNA)

Vanguard Group Inc. reduced its stake in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 1.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,790,898 shares of the company's stock after selling 261,721 shares during the period. Vanguard Group Inc. owned 16.01% of TEGNA worth $471,716,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp increased its holdings in shares of TEGNA by 3.5% during the 3rd quarter. State Street Corp now owns 8,194,619 shares of the company's stock valued at $129,991,000 after acquiring an additional 276,699 shares during the last quarter. Geode Capital Management LLC grew its holdings in TEGNA by 5.1% during the third quarter. Geode Capital Management LLC now owns 4,905,588 shares of the company's stock valued at $77,422,000 after purchasing an additional 238,696 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of TEGNA by 5.3% in the fourth 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 last quarter. Principal Financial Group Inc. lifted 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. Finally, Capital Management Corp VA boosted its holdings in shares of TEGNA by 4.8% during the 4th quarter. Capital Management Corp VA now owns 760,590 shares of the company's stock worth $13,911,000 after buying an additional 34,785 shares during the period. Institutional investors and hedge funds own 92.19% of the company's stock.

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TEGNA Stock Performance

Shares of NYSE:TGNA traded down $1.87 on Thursday, hitting $17.12. 3,248,600 shares of the company were exchanged, compared to its average volume of 1,989,127. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.60 and a current ratio of 2.60. The company's 50 day moving average price is $18.06 and its two-hundred day moving average price is $17.61. TEGNA Inc. has a one year low of $12.35 and a one year high of $19.62. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of 6.05 and a beta of 0.25.

TEGNA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 7th were issued a $0.125 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.50 annualized dividend and a yield of 2.92%. TEGNA's dividend payout ratio (DPR) is 14.12%.

Analyst Ratings Changes

TGNA has been the subject of a number of research analyst reports. Wells Fargo & Company raised shares of TEGNA from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $21.00 to $23.00 in a research report on Thursday, December 19th. 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, StockNews.com downgraded TEGNA from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $21.75.

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.