TEGNA Inc. (NYSE:TGNA) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in TEGNA Inc. (NYSE:TGNA) by 17.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,048 shares of the company’s stock after buying an additional 6,565 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in TEGNA were worth $824,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its position in shares of 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 purchasing an additional 184,845 shares during the last quarter. EMC Capital Management increased 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 buying an additional 17,629 shares during the last quarter. Guidance Capital Inc. acquired a new stake in TEGNA during the fourth quarter valued at approximately $476,000. World Investment Advisors LLC acquired a new stake in TEGNA during the third quarter valued at approximately $528,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings 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 buying an additional 93,894 shares during the last quarter. 92.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports 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. StockNews.com cut shares of TEGNA from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Finally, Guggenheim reaffirmed a “buy” rating and set a $22.00 target price on shares of TEGNA in a report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.75.

TEGNA Stock Performance

TGNA opened at $18.79 on Friday. TEGNA Inc. has a twelve month low of $12.35 and a twelve month high of $19.62. The stock has a market cap of $3.00 billion, a PE ratio of 6.64 and a beta of 0.45. The business’s 50 day moving average is $17.98 and its 200-day moving average is $17.30. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 7th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend is Friday, March 7th. TEGNA’s dividend payout ratio (DPR) is 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.