TEGNA Inc. (NYSE:TGNA) Shares Bought by Pinebridge Investments L.P.

Pinebridge Investments L.P. increased its holdings in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 42.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 112,024 shares of the company's stock after purchasing an additional 33,512 shares during the period. Pinebridge Investments L.P. owned 0.07% of TEGNA worth $2,049,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Tower Research Capital LLC TRC boosted its holdings in TEGNA by 80.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,683 shares of the company's stock worth $31,000 after buying an additional 749 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of TEGNA by 59.0% during the 4th quarter. GAMMA Investing LLC now owns 2,040 shares of the company's stock valued at $37,000 after acquiring an additional 757 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of TEGNA by 95.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,702 shares of the company's stock worth $31,000 after acquiring an additional 832 shares in the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of TEGNA by 4.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 23,193 shares of the company's stock worth $424,000 after acquiring an additional 910 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in TEGNA by 34.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,364 shares of the company's stock valued at $80,000 after purchasing an additional 1,111 shares in the last quarter. 92.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

TEGNA Trading Down 1.0 %

Shares of NYSE TGNA traded down $0.17 during midday trading on Thursday, reaching $16.07. 922,735 shares of the stock were exchanged, compared to its average volume of 2,010,861. The stock has a 50 day moving average price of $17.16 and a 200-day moving average price of $17.70. 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 company has a market capitalization of $2.58 billion, a P/E ratio of 5.68 and a beta of 0.25. TEGNA Inc. has a 52-week low of $12.35 and a 52-week high of $19.62.

TEGNA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 7th were issued a $0.125 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.50 annualized dividend and a yield of 3.11%. TEGNA's dividend payout ratio (DPR) is presently 14.12%.

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.