Quantbot Technologies LP Purchases 24,333 Shares of TEGNA Inc. (NYSE:TGNA)

Quantbot Technologies LP lifted its holdings in TEGNA Inc. (NYSE:TGNA) by 288.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,783 shares of the company’s stock after acquiring an additional 24,333 shares during the quarter. Quantbot Technologies LP’s holdings in TEGNA were worth $600,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. State Street Corp increased its position in TEGNA by 3.5% in 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 in the last quarter. Geode Capital Management LLC grew its stake in shares of 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. increased its holdings 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 valued at $34,260,000 after purchasing an additional 93,894 shares in the last quarter. Principal Financial Group Inc. raised its position in TEGNA by 2.3% in the 4th quarter. Principal Financial Group Inc. now owns 911,617 shares of the company’s stock worth $16,673,000 after purchasing an additional 20,129 shares during the last quarter. Finally, Capital Management Corp VA lifted its holdings in 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 in the last quarter. 92.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on TGNA shares. Guggenheim restated a “buy” rating and set a $22.00 target price on shares of TEGNA in a research report on Friday, January 24th. StockNews.com cut TEGNA from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Finally, Wells Fargo & Company raised shares of TEGNA from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $21.00 to $23.00 in a research note on Thursday, December 19th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, TEGNA currently has an average rating of “Moderate Buy” and an average target price of $21.75.

TEGNA Stock Down 2.5 %

NYSE:TGNA opened at $18.28 on Friday. The stock’s fifty day simple moving average is $18.03 and its 200-day simple moving average is $17.47. The firm has a market capitalization of $2.92 billion, a P/E ratio of 6.46 and a beta of 0.45. 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 12-month low of $12.35 and a 12-month high of $19.62.

TEGNA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 7th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.73%. TEGNA’s payout ratio is currently 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.