Marshall Wace LLP Has $2.82 Million Holdings in TEGNA Inc. (NYSE:TGNA)

Marshall Wace LLP cut its stake in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 78.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 154,146 shares of the company's stock after selling 547,478 shares during the period. Marshall Wace LLP owned approximately 0.10% of TEGNA worth $2,819,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its stake in TEGNA by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,873,167 shares of the company's stock worth $34,260,000 after purchasing an additional 93,894 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of TEGNA by 2.3% during the fourth quarter. Principal Financial Group Inc. now owns 911,617 shares of the company's stock worth $16,673,000 after acquiring an additional 20,129 shares during the period. Invesco Ltd. lifted its position in TEGNA by 14.6% in the 4th quarter. Invesco Ltd. now owns 866,076 shares of the company's stock valued at $15,841,000 after acquiring an additional 110,646 shares in the last quarter. Capital Management Corp VA boosted its stake in TEGNA by 4.8% in the 4th quarter. Capital Management Corp VA now owns 760,590 shares of the company's stock worth $13,911,000 after purchasing an additional 34,785 shares during the period. Finally, Muhlenkamp & Co. Inc. increased its holdings in TEGNA by 0.3% during the 4th quarter. Muhlenkamp & Co. Inc. now owns 691,332 shares of the company's stock worth $12,644,000 after purchasing an additional 1,796 shares in the last quarter. Institutional investors and hedge funds own 92.19% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Wells Fargo & Company cut their price target on TEGNA from $23.00 to $21.00 and set an "overweight" rating on the stock in a report on Thursday. Guggenheim reduced their price target on TEGNA from $22.00 to $20.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Finally, StockNews.com downgraded shares of TEGNA from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, TEGNA currently has an average rating of "Moderate Buy" and an average price target of $20.75.

TEGNA Stock Up 1.9 %

Shares of NYSE:TGNA traded up $0.31 during trading on Friday, hitting $16.37. 300,894 shares of the company were exchanged, compared to its average volume of 1,633,664. TEGNA Inc. has a fifty-two week low of $12.35 and a fifty-two week high of $19.62. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of 5.78 and a beta of 0.25. 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 firm has a fifty day moving average price of $17.13 and a two-hundred day moving average price of $17.70.

TEGNA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 7th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend was Friday, March 7th. TEGNA's dividend payout ratio (DPR) is currently 14.12%.

About TEGNA

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.