Handelsbanken Fonder AB Buys 3,300 Shares of TEGNA Inc. (NYSE:TGNA)

Handelsbanken Fonder AB raised its stake in shares of TEGNA Inc. (NYSE:TGNA) by 8.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 40,808 shares of the company’s stock after acquiring an additional 3,300 shares during the quarter. Handelsbanken Fonder AB’s holdings in TEGNA were worth $746,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TGNA. Pacer Advisors Inc. lifted its holdings in shares of TEGNA by 2,898.4% during the third quarter. Pacer Advisors Inc. now owns 10,806,130 shares of the company’s stock valued at $170,521,000 after acquiring an additional 10,445,739 shares during the period. Empowered Funds LLC raised its holdings in shares of TEGNA by 757.4% in the third quarter. Empowered Funds LLC now owns 662,417 shares of the company’s stock valued at $10,453,000 after buying an additional 585,156 shares during the last quarter. Public Sector Pension Investment Board bought a new position in shares of TEGNA in the third quarter valued at about $5,539,000. State Street Corp raised its holdings in shares of TEGNA by 3.5% in the third quarter. State Street Corp now owns 8,194,619 shares of the company’s stock valued at $129,991,000 after buying an additional 276,699 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of TEGNA by 5.1% in the third quarter. Geode Capital Management LLC now owns 4,905,588 shares of the company’s stock valued at $77,422,000 after buying an additional 238,696 shares during the last quarter. 92.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on TGNA shares. Wells Fargo & Company raised TEGNA from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $21.00 to $23.00 in a report on Thursday, December 19th. Benchmark lifted their price target on TEGNA from $21.00 to $23.00 and gave the company a “buy” rating in a report on Friday, November 8th. StockNews.com cut TEGNA from a “buy” rating to a “hold” rating in a report on Friday. JPMorgan Chase & Co. boosted their price objective on TEGNA from $16.00 to $19.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Finally, Guggenheim reissued a “buy” rating and set a $22.00 price objective on shares of TEGNA in a report on Friday, January 24th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.75.

TEGNA Stock Performance

Shares of NYSE:TGNA opened at $18.17 on Friday. The stock has a market capitalization of $2.93 billion, a P/E ratio of 6.42 and a beta of 0.52. TEGNA Inc. has a 1-year low of $12.35 and a 1-year high of $19.62. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.07. The business has a 50-day moving average price of $18.16 and a two-hundred day moving average price of $16.88.

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 is Friday, March 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.75%. TEGNA’s payout ratio is currently 17.67%.

TEGNA 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.