Quantbot Technologies LP Has $600,000 Position in TEGNA Inc. (NYSE:TGNA)

Quantbot Technologies LP lifted its holdings in TEGNA Inc. (NYSE:TGNA) by 288.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 32,783 shares of the company’s stock after purchasing an additional 24,333 shares during the period. Quantbot Technologies LP’s holdings in TEGNA were worth $600,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Principal Financial Group Inc. raised its stake in TEGNA by 26.2% during the 3rd quarter. Principal Financial Group Inc. now owns 891,488 shares of the company’s stock valued at $14,068,000 after purchasing an additional 184,845 shares during the last quarter. EMC Capital Management raised its position in shares of TEGNA by 648.8% during the fourth quarter. EMC Capital Management now owns 20,346 shares of the company’s stock valued at $372,000 after buying an additional 17,629 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of TEGNA by 5.3% during 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 buying an additional 93,894 shares during the last quarter. Guidance Capital Inc. bought a new stake in shares of TEGNA in the fourth quarter valued at about $476,000. Finally, World Investment Advisors LLC acquired a new stake in TEGNA during the third quarter worth about $528,000. Institutional investors and hedge funds own 92.19% of the company’s stock.

TEGNA Trading Down 2.5 %

Shares of TGNA opened at $18.28 on Friday. 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 stock has a market cap of $2.92 billion, a PE ratio of 6.46 and a beta of 0.45. TEGNA Inc. has a 1 year low of $12.35 and a 1 year high of $19.62. The stock has a 50 day simple moving average of $18.03 and a 200-day simple moving average of $17.47.

TEGNA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 7th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.73%. TEGNA’s payout ratio is presently 14.12%.

Analyst Upgrades and Downgrades

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

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.