Bryce Point Capital LLC Takes $454,000 Position in TEGNA Inc. (NYSE:TGNA)

Bryce Point Capital LLC purchased a new position in TEGNA Inc. (NYSE:TGNA) during the fourth quarter, Holdings Channel.com reports. The firm purchased 24,797 shares of the company’s stock, valued at approximately $454,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Schroder Investment Management Group purchased a new position in shares of TEGNA in the fourth quarter worth approximately $4,429,000. Pictet Asset Management Holding SA grew its position in TEGNA by 4.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 23,193 shares of the company’s stock worth $424,000 after purchasing an additional 910 shares in the last quarter. Norges Bank acquired a new stake in TEGNA during the 4th quarter valued at $12,170,000. JPMorgan Chase & Co. lifted its holdings in shares of TEGNA by 49.5% in the fourth quarter. JPMorgan Chase & Co. now owns 425,565 shares of the company’s stock valued at $7,784,000 after purchasing an additional 140,987 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co acquired a new stake in shares of TEGNA in the fourth quarter worth $206,000. Institutional investors and hedge funds own 92.19% of the company’s stock.

Analyst Upgrades and Downgrades

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

TEGNA Price Performance

TGNA opened at $16.02 on Friday. The stock has a fifty day moving average price of $18.01 and a 200 day moving average price of $17.62. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.07. TEGNA Inc. has a 1 year low of $12.35 and a 1 year high of $19.62. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of 5.66 and a beta of 0.25.

TEGNA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 7th were paid a $0.125 dividend. The ex-dividend date was Friday, March 7th. This represents a $0.50 annualized dividend and a dividend yield of 3.12%. TEGNA’s payout ratio is 14.12%.

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.