Bank of Nova Scotia Acquires New Position in TEGNA Inc. (NYSE:TGNA)

Bank of Nova Scotia acquired a new stake in TEGNA Inc. (NYSE:TGNAGet Rating) during the second quarter, Holdings Channel reports. The firm acquired 32,443 shares of the company’s stock, valued at approximately $680,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ bought a new stake in TEGNA in the 1st quarter valued at about $784,000. MetLife Investment Management LLC raised its stake in TEGNA by 39.8% in the 1st quarter. MetLife Investment Management LLC now owns 256,129 shares of the company’s stock valued at $5,737,000 after acquiring an additional 72,912 shares during the period. Qube Research & Technologies Ltd increased its position in shares of TEGNA by 154.8% during the first quarter. Qube Research & Technologies Ltd now owns 434,526 shares of the company’s stock valued at $9,733,000 after buying an additional 264,002 shares during the period. Yousif Capital Management LLC increased its position in shares of TEGNA by 4.6% during the second quarter. Yousif Capital Management LLC now owns 127,809 shares of the company’s stock valued at $2,680,000 after buying an additional 5,580 shares during the period. Finally, Segantii Capital Management Ltd increased its position in shares of TEGNA by 18.3% during the second quarter. Segantii Capital Management Ltd now owns 5,245,400 shares of the company’s stock valued at $109,996,000 after buying an additional 811,961 shares during the period. 90.25% of the stock is currently owned by institutional investors.

TEGNA Trading Down 0.5 %

Shares of TGNA opened at $19.89 on Friday. The business’s 50-day moving average price is $20.65 and its 200-day moving average price is $20.97. TEGNA Inc. has a twelve month low of $17.94 and a twelve month high of $23.04. The stock has a market cap of $4.44 billion, a PE ratio of 8.22 and a beta of 0.74. The company has a quick ratio of 2.71, a current ratio of 2.71 and a debt-to-equity ratio of 1.07.

TEGNA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Friday, December 9th will be given a $0.095 dividend. This represents a $0.38 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Thursday, December 8th. TEGNA’s dividend payout ratio (DPR) is 15.70%.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on TEGNA in a research report on Wednesday, October 12th. They set a “buy” rating on the stock.

TEGNA Company Profile

(Get Rating)

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.

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Institutional Ownership by Quarter for TEGNA (NYSE:TGNA)

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