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Voya Investment Management LLC cut its position in shares of TEGNA Inc. (NYSE:TGNA – Free Report) by 9.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 49,576 shares of the company’s stock after selling 5,290 shares during the period. Voya Investment Management LLC’s holdings in TEGNA were worth $907,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TGNA. Jones Financial Companies Lllp bought a new stake in shares of TEGNA during the 4th quarter worth approximately $27,000. Smartleaf Asset Management LLC lifted its position in shares of 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 purchasing an additional 832 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of TEGNA by 80.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,683 shares of the company’s stock valued at $31,000 after purchasing an additional 749 shares during the period. Aster Capital Management DIFC Ltd bought a new position in shares of TEGNA in the fourth quarter worth about $32,000. Finally, GAMMA Investing LLC lifted its holdings in TEGNA by 59.0% during the 4th quarter. GAMMA Investing LLC now owns 2,040 shares of the company’s stock valued at $37,000 after buying an additional 757 shares in the last quarter. 92.19% of the stock is owned by hedge funds and other institutional investors.
TEGNA Stock Performance
Shares of TGNA stock opened at $16.64 on Wednesday. TEGNA Inc. has a 12-month low of $12.35 and a 12-month high of $19.62. The business’s fifty day simple moving average is $17.09 and its 200-day simple moving average is $17.71. 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 company has a market cap of $2.67 billion, a PE ratio of 5.88 and a beta of 0.31.
TEGNA Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 7th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend was Friday, March 7th. TEGNA’s dividend payout ratio is currently 14.12%.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on TGNA shares. Wells Fargo & Company decreased their price target on shares of TEGNA from $23.00 to $21.00 and set an “overweight” rating for the company in a research note on Thursday, May 1st. Guggenheim dropped their price target on TEGNA from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. StockNews.com downgraded shares of TEGNA from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Finally, Benchmark dropped their price objective on shares of TEGNA from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.00.
Check Out Our Latest Analysis on TGNA
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.
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