Hillsdale Investment Management Inc. Has $4.15 Million Stock Holdings in TEGNA Inc. (NYSE:TGNA)

Hillsdale Investment Management Inc. boosted its position in TEGNA Inc. (NYSE:TGNA) by 13,258.8% in the 4th quarter, HoldingsChannel reports. The firm owned 227,100 shares of the company’s stock after acquiring an additional 225,400 shares during the period. Hillsdale Investment Management Inc.’s holdings in TEGNA were worth $4,154,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. State Street Corp lifted its stake in shares of TEGNA by 3.5% during the 3rd quarter. State Street Corp now owns 8,194,619 shares of the company’s stock worth $129,991,000 after buying an additional 276,699 shares during the last quarter. Geode Capital Management LLC raised its holdings in TEGNA by 5.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,905,588 shares of the company’s stock valued at $77,422,000 after acquiring an additional 238,696 shares during the period. Charles Schwab Investment Management Inc. lifted its position in TEGNA by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,873,167 shares of the company’s stock worth $34,260,000 after acquiring an additional 93,894 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of TEGNA by 2.3% during the fourth quarter. Principal Financial Group Inc. now owns 911,617 shares of the company’s stock worth $16,673,000 after acquiring an additional 20,129 shares during the period. Finally, Capital Management Corp VA grew its position in shares of TEGNA by 4.8% in the fourth quarter. Capital Management Corp VA now owns 760,590 shares of the company’s stock valued at $13,911,000 after purchasing an additional 34,785 shares during the last quarter. Institutional investors own 92.19% of the company’s stock.

TEGNA Stock Performance

TGNA opened at $18.53 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.60 and a current ratio of 2.60. TEGNA Inc. has a 52-week low of $12.35 and a 52-week high of $19.62. The firm has a market cap of $2.96 billion, a P/E ratio of 6.55 and a beta of 0.45. The business’s fifty day moving average is $17.99 and its 200-day moving average is $17.36.

TEGNA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 7th will be paid a dividend of $0.125 per share. The ex-dividend date is Friday, March 7th. This represents a $0.50 dividend on an annualized basis and a yield of 2.70%. TEGNA’s payout ratio is 14.12%.

Analyst Upgrades and Downgrades

TGNA has been the subject of several research reports. Guggenheim reissued a “buy” rating and set a $22.00 price target on shares of TEGNA in a report on Friday, January 24th. StockNews.com cut shares of TEGNA from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Finally, Wells Fargo & Company raised shares of TEGNA from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $21.00 to $23.00 in a research report on Thursday, December 19th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.75.

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.