Invesco Ltd. Grows Stock Holdings in TEGNA Inc. (NYSE:TGNA)

Invesco Ltd. grew its position in shares of TEGNA Inc. (NYSE:TGNA) by 14.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 866,076 shares of the company’s stock after acquiring an additional 110,646 shares during the period. Invesco Ltd. owned about 0.54% of TEGNA worth $15,841,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. lifted its holdings in TEGNA by 26.2% in the 3rd quarter. Principal Financial Group Inc. now owns 891,488 shares of the company’s stock worth $14,068,000 after buying an additional 184,845 shares during the period. EMC Capital Management boosted its holdings in TEGNA by 648.8% in the fourth quarter. EMC Capital Management now owns 20,346 shares of the company’s stock valued at $372,000 after acquiring an additional 17,629 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position 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 valued at $34,260,000 after purchasing an additional 93,894 shares during the period. Guidance Capital Inc. bought a new position in TEGNA in the 4th quarter worth $476,000. Finally, World Investment Advisors LLC purchased a new stake in shares of TEGNA in the 3rd quarter worth about $528,000. 92.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on TGNA shares. Guggenheim lowered their price objective on shares of TEGNA from $22.00 to $20.00 and set a “buy” rating for the company in a report on Friday, April 11th. StockNews.com cut TEGNA from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.25.

TEGNA Price Performance

TGNA stock opened at $16.08 on Monday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.60 and a current ratio of 2.60. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of 5.68 and a beta of 0.25. The firm has a 50 day moving average price of $17.48 and a 200-day moving average price of $17.71. TEGNA Inc. has a 52-week low of $12.35 and a 52-week high of $19.62.

TEGNA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 7th were issued a dividend of $0.125 per share. The ex-dividend date was Friday, March 7th. This represents a $0.50 annualized dividend and a dividend yield of 3.11%. TEGNA’s payout ratio is presently 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.