Schroder Investment Management Group Acquires Shares of 241,521 TEGNA Inc. (NYSE:TGNA)

Schroder Investment Management Group bought a new position in TEGNA Inc. (NYSE:TGNA) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 241,521 shares of the company’s stock, valued at approximately $4,429,000.

Other large investors have also recently modified their holdings of the company. State Street Corp grew its stake in TEGNA by 3.5% in the third quarter. State Street Corp now owns 8,194,619 shares of the company’s stock worth $129,991,000 after purchasing an additional 276,699 shares during the period. Geode Capital Management LLC grew its position in shares of TEGNA by 5.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,905,588 shares of the company’s stock worth $77,422,000 after buying an additional 238,696 shares during the period. Charles Schwab Investment Management Inc. increased its stake 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 acquiring an additional 93,894 shares in the last quarter. Principal Financial Group Inc. lifted its position in TEGNA by 2.3% during the 4th quarter. Principal Financial Group Inc. now owns 911,617 shares of the company’s stock valued at $16,673,000 after acquiring an additional 20,129 shares during the period. Finally, Capital Management Corp VA boosted its stake in TEGNA by 4.8% during the fourth quarter. Capital Management Corp VA now owns 760,590 shares of the company’s stock worth $13,911,000 after acquiring an additional 34,785 shares in the last quarter. Institutional investors own 92.19% of the company’s stock.

TEGNA Stock Performance

TGNA stock opened at $16.02 on Friday. The stock’s 50 day simple moving average is $18.01 and its 200 day simple moving average is $17.64. The company has a current ratio of 2.60, a quick 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. The stock has a market capitalization of $2.56 billion, a PE ratio of 5.66 and a beta of 0.25.

TEGNA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors 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 3.12%. TEGNA’s payout ratio is 14.12%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on TGNA shares. StockNews.com downgraded shares of TEGNA from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Guggenheim reaffirmed a “buy” rating and set a $22.00 price objective on shares of TEGNA in a research report on Friday, January 24th. Finally, Wells Fargo & Company upgraded TEGNA from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $21.00 to $23.00 in a research note on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.75.

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.