Elo Mutual Pension Insurance Co Makes New Investment in TEGNA Inc. (NYSE:TGNA)

Elo Mutual Pension Insurance Co bought a new position in TEGNA Inc. (NYSE:TGNA) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 11,259 shares of the company’s stock, valued at approximately $206,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in TGNA. Jones Financial Companies Lllp purchased a new stake in TEGNA in the fourth quarter worth about $27,000. Smartleaf Asset Management LLC raised its holdings in shares of TEGNA by 95.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,702 shares of the company’s stock valued at $31,000 after purchasing an additional 832 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of TEGNA by 59.0% in the 4th quarter. GAMMA Investing LLC now owns 2,040 shares of the company’s stock worth $37,000 after purchasing an additional 757 shares during the period. Sound Income Strategies LLC bought a new position in shares of TEGNA during the fourth quarter valued at approximately $57,000. Finally, Quarry LP increased its holdings in TEGNA by 455.2% during the third quarter. Quarry LP now owns 4,025 shares of the company’s stock valued at $64,000 after buying an additional 3,300 shares during the period. Institutional investors own 92.19% of the company’s stock.

TEGNA Stock Up 0.9 %

Shares of TGNA stock opened at $18.26 on Tuesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.60 and a quick ratio of 2.60. The company has a market cap of $2.92 billion, a price-to-earnings ratio of 6.45 and a beta of 0.45. The stock’s fifty day moving average price is $18.04 and its 200 day moving average price is $17.58. TEGNA Inc. has a 1-year low of $12.35 and a 1-year high of $19.62.

TEGNA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 7th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date is Friday, March 7th. TEGNA’s dividend payout ratio (DPR) is presently 14.12%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Wells Fargo & Company raised TEGNA from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $21.00 to $23.00 in a research report on Thursday, December 19th. StockNews.com downgraded TEGNA from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Finally, Guggenheim reiterated a “buy” rating and issued a $22.00 target price on shares of TEGNA in a report on Friday, January 24th. Two 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.75.

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.