Teacher Retirement System of Texas Raises Position in TEGNA Inc. (NYSE:TGNA)

Teacher Retirement System of Texas boosted its position in TEGNA Inc. (NYSE:TGNA) by 84.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 205,660 shares of the company’s stock after purchasing an additional 94,356 shares during the period. Teacher Retirement System of Texas’ holdings in TEGNA were worth $3,762,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of TGNA. Public Sector Pension Investment Board bought a new stake in shares of TEGNA in the third quarter valued at $5,539,000. State Street Corp raised its stake 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 during the period. Geode Capital Management LLC lifted its holdings in 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. Holocene Advisors LP bought a new position in TEGNA during the third quarter worth about $3,096,000. Finally, Kingsview Wealth Management LLC purchased a new position in shares of TEGNA in the fourth quarter worth about $3,381,000. 92.19% of the stock is owned by institutional investors.

TEGNA Price Performance

Shares of NYSE:TGNA opened at $18.76 on Tuesday. The company has a 50 day moving average of $18.01 and a 200 day moving average of $17.42. 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 $3.00 billion, a P/E ratio of 6.63 and a beta of 0.45. TEGNA Inc. has a 12 month low of $12.35 and a 12 month high of $19.62.

TEGNA Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 2.67%. TEGNA’s dividend payout ratio (DPR) is currently 14.12%.

Analyst Ratings Changes

A number of analysts recently commented on TGNA shares. StockNews.com cut shares of TEGNA from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Guggenheim restated a “buy” rating and set a $22.00 target price on shares of TEGNA in a research report on Friday, January 24th. Finally, Wells Fargo & Company raised TEGNA from an “equal weight” rating to an “overweight” rating and raised their price target for the stock 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 given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $21.75.

TEGNA Company 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.