Blue Capital Inc. Invests $311,000 in TEGNA Inc. (NYSE:TGNA)

Blue Capital Inc. acquired a new position in shares of TEGNA Inc. (NYSE:TGNA - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 17,000 shares of the company's stock, valued at approximately $311,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Principal Financial Group Inc. boosted its position in shares of 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 acquiring an additional 184,845 shares in the last quarter. EMC Capital Management lifted its position in TEGNA by 648.8% during the 4th quarter. EMC Capital Management now owns 20,346 shares of the company's stock worth $372,000 after buying an additional 17,629 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of TEGNA by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,873,167 shares of the company's stock valued at $34,260,000 after acquiring an additional 93,894 shares during the period. Guidance Capital Inc. acquired a new stake in TEGNA during the 4th quarter valued at $476,000. Finally, World Investment Advisors LLC bought a new position in shares of TEGNA during the third quarter worth approximately $528,000. Institutional investors and hedge funds own 92.19% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TGNA. Wells Fargo & Company decreased their price objective on shares of TEGNA from $23.00 to $21.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. StockNews.com cut TEGNA from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Guggenheim lowered their price objective on TEGNA from $22.00 to $20.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Finally, Benchmark dropped their price target on TEGNA from $21.00 to $20.00 and set a "buy" rating for the company in a research report on Tuesday. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $20.00.

TEGNA Stock Performance

TGNA stock traded up $0.01 on Wednesday, hitting $16.66. The company had a trading volume of 1,787,816 shares, compared to its average volume of 2,002,980. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of 5.89 and a beta of 0.31. 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 12-month low of $12.35 and a 12-month high of $19.62. The stock's 50-day simple moving average is $17.06 and its 200 day simple moving average is $17.70.

TEGNA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 7th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.50 annualized dividend and a dividend yield of 3.00%. 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.