TEGNA Inc. (NYSE:TGNA) Position Reduced by Corient Private Wealth LLC

Corient Private Wealth LLC reduced its position in shares of TEGNA Inc. (NYSE:TGNA) by 17.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 65,953 shares of the company’s stock after selling 13,487 shares during the quarter. Corient Private Wealth LLC’s holdings in TEGNA were worth $1,206,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TGNA. Jones Financial Companies Lllp acquired a new position in shares of TEGNA in the 4th quarter worth approximately $27,000. Smartleaf Asset Management LLC boosted its holdings in TEGNA by 95.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,702 shares of the company’s stock worth $31,000 after buying an additional 832 shares in the last quarter. GAMMA Investing LLC grew its position in TEGNA by 59.0% in the fourth quarter. GAMMA Investing LLC now owns 2,040 shares of the company’s stock worth $37,000 after buying an additional 757 shares during the last quarter. Sound Income Strategies LLC bought a new position in shares of TEGNA in the fourth quarter valued at $57,000. Finally, Quarry LP lifted its position in shares of TEGNA by 455.2% during the 3rd quarter. Quarry LP now owns 4,025 shares of the company’s stock valued at $64,000 after acquiring an additional 3,300 shares during the last quarter. 92.19% of the stock is owned by institutional investors.

TEGNA Stock Performance

Shares of TGNA stock opened at $18.73 on Thursday. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of 6.62 and a beta of 0.45. TEGNA Inc. has a 1-year low of $12.35 and a 1-year high of $19.62. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.07. The stock’s fifty day simple moving average is $18.03 and its 200-day simple moving average is $17.46.

TEGNA Announces Dividend

The firm also recently announced 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 of this dividend is Friday, March 7th. This represents a $0.50 annualized dividend and a yield of 2.67%. TEGNA’s dividend payout ratio (DPR) is presently 14.12%.

Analysts Set New Price Targets

TGNA has been the topic of a number of recent analyst reports. Wells Fargo & Company raised TEGNA from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock 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 report on Friday, February 28th. Finally, Guggenheim reaffirmed a “buy” rating and set a $22.00 price objective on shares of TEGNA in a research note on Friday, January 24th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. 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.