MetLife Investment Management LLC Purchases 2,562 Shares of TEGNA Inc. (NYSE:TGNA)

MetLife Investment Management LLC increased its holdings in shares of TEGNA Inc. (NYSE:TGNA) by 2.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 99,017 shares of the company’s stock after purchasing an additional 2,562 shares during the period. MetLife Investment Management LLC owned approximately 0.06% of TEGNA worth $1,811,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Principal Financial Group Inc. lifted 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 acquiring an additional 184,845 shares during the period. EMC Capital Management boosted its position in shares of TEGNA by 648.8% during the 4th 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 stake in TEGNA by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,873,167 shares of the company’s stock valued at $34,260,000 after acquiring an additional 93,894 shares during the period. Guidance Capital Inc. acquired a new position in TEGNA in the fourth quarter worth about $476,000. Finally, World Investment Advisors LLC acquired a new stake in TEGNA during the third quarter valued at approximately $528,000. Institutional investors and hedge funds own 92.19% of the company’s stock.

Analyst Ratings Changes

TGNA has been the subject of a number of recent research reports. Guggenheim dropped their target price on TEGNA from $22.00 to $20.00 and set a “buy” rating for the company in a report on Friday, April 11th. StockNews.com downgraded shares of TEGNA from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, TEGNA presently has an average rating of “Moderate Buy” and a consensus price target of $21.25.

TEGNA Price Performance

TGNA opened at $16.33 on Wednesday. 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’s 50 day simple moving average is $17.19 and its 200-day simple moving average is $17.71. TEGNA Inc. has a one year low of $12.35 and a one year high of $19.62. The stock has a market capitalization of $2.62 billion, a P/E ratio of 5.77 and a beta of 0.25.

TEGNA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 7th were given a dividend of $0.125 per share. The ex-dividend date was Friday, March 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.06%. TEGNA’s payout ratio is currently 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.