Magnus Financial Group LLC bought a new position in TEGNA Inc. (NYSE:TGNA) in the 4th quarter, Holdings Channel reports. The fund bought 11,369 shares of the company’s stock, valued at approximately $124,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Quadrant L P CA bought a new stake in shares of TEGNA in the 4th quarter worth about $77,000. Oregon Public Employees Retirement Fund increased its position in shares of TEGNA by 987.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 927,070 shares of the company’s stock worth $85,000 after purchasing an additional 841,783 shares during the last quarter. First Hawaiian Bank increased its position in shares of TEGNA by 354.3% in the 4th quarter. First Hawaiian Bank now owns 8,772 shares of the company’s stock worth $95,000 after purchasing an additional 6,841 shares during the last quarter. People s United Financial Inc. bought a new stake in shares of TEGNA in the 3rd quarter worth about $124,000. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of TEGNA during the 4th quarter valued at about $131,000. 94.32% of the stock is owned by institutional investors.
Shares of NYSE:TGNA opened at $14.40 on Friday. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 2.20. TEGNA Inc. has a fifty-two week low of $10.00 and a fifty-two week high of $15.58. The stock has a market cap of $3.11 billion, a P/E ratio of 7.87, a price-to-earnings-growth ratio of 1.13 and a beta of 1.55.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 8th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Thursday, March 7th. TEGNA’s payout ratio is 15.30%.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of TEGNA from a “buy” rating to a “hold” rating and set a $15.00 price objective for the company. in a research report on Thursday, December 6th. Noble Financial reaffirmed a “buy” rating and set a $14.50 price objective on shares of TEGNA in a research report on Thursday, February 28th. ValuEngine raised shares of TEGNA from a “strong sell” rating to a “sell” rating in a research report on Thursday, February 28th. Finally, B. Riley boosted their price objective on shares of TEGNA from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, December 18th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. TEGNA has an average rating of “Hold” and an average target price of $14.32.
In other TEGNA news, Director Neal Shapiro sold 27,613 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $14.72, for a total transaction of $406,463.36. Following the completion of the transaction, the director now directly owns 17,478 shares of the company’s stock, valued at approximately $257,276.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.44% of the company’s stock.
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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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