Swiss National Bank Sells 5,600 Shares of TEGNA Inc. (NYSE:TGNA)

Swiss National Bank trimmed its stake in TEGNA Inc. (NYSE:TGNA) by 1.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 325,400 shares of the company’s stock after selling 5,600 shares during the period. Swiss National Bank owned 0.20% of TEGNA worth $5,952,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Public Sector Pension Investment Board bought a new stake in shares of TEGNA in the third quarter valued at about $5,539,000. State Street Corp lifted its position in shares of TEGNA by 3.5% in the 3rd quarter. State Street Corp now owns 8,194,619 shares of the company’s stock worth $129,991,000 after acquiring an additional 276,699 shares during the period. Geode Capital Management LLC grew its holdings in shares of TEGNA by 5.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,905,588 shares of the company’s stock worth $77,422,000 after purchasing an additional 238,696 shares in the last quarter. Holocene Advisors LP acquired a new stake in shares of TEGNA during the 3rd quarter worth approximately $3,096,000. Finally, Kingsview Wealth Management LLC acquired a new position in shares of TEGNA in the fourth quarter valued at $3,381,000. Institutional investors own 92.19% of the company’s stock.

TEGNA Stock Down 1.4 %

Shares of NYSE TGNA opened at $18.53 on Monday. TEGNA Inc. has a 52-week low of $12.35 and a 52-week high of $19.62. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.60 and a current ratio of 2.60. The business has a fifty day moving average of $17.99 and a two-hundred day moving average of $17.38. The stock has a market cap of $2.96 billion, a PE ratio of 6.55 and a beta of 0.45.

TEGNA Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TGNA. Guggenheim reiterated a “buy” rating and set a $22.00 price target on shares of TEGNA in a research note on Friday, January 24th. StockNews.com lowered 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 increased their price target for the stock from $21.00 to $23.00 in a research report on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, TEGNA has a consensus 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.