TEGNA Inc. (NYSE:TGNA) Shares Acquired by Smartleaf Asset Management LLC

Smartleaf Asset Management LLC lifted its stake in shares of TEGNA Inc. (NYSE:TGNA) by 95.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,702 shares of the company’s stock after buying an additional 832 shares during the quarter. Smartleaf Asset Management LLC’s holdings in TEGNA were worth $31,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC lifted its stake in TEGNA by 59.0% in the fourth quarter. GAMMA Investing LLC now owns 2,040 shares of the company’s stock valued at $37,000 after buying an additional 757 shares during the last quarter. US Bancorp DE lifted its stake in TEGNA by 20.4% in the third quarter. US Bancorp DE now owns 4,503 shares of the company’s stock valued at $71,000 after buying an additional 764 shares during the last quarter. Sanctuary Advisors LLC lifted its stake in TEGNA by 7.4% in the third quarter. Sanctuary Advisors LLC now owns 17,994 shares of the company’s stock valued at $284,000 after buying an additional 1,239 shares during the last quarter. Meritage Portfolio Management lifted its stake in TEGNA by 8.4% in the fourth quarter. Meritage Portfolio Management now owns 25,270 shares of the company’s stock valued at $462,000 after buying an additional 1,967 shares during the last quarter. Finally, KBC Group NV lifted its stake in TEGNA by 35.5% in the fourth quarter. KBC Group NV now owns 7,713 shares of the company’s stock valued at $141,000 after buying an additional 2,019 shares during the last quarter. 92.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on TGNA shares. StockNews.com cut TEGNA from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Wells Fargo & Company upgraded TEGNA from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $21.00 to $23.00 in a research report on Thursday, December 19th. Finally, Guggenheim reissued a “buy” rating and issued a $22.00 target price on shares of TEGNA in a report on Friday, January 24th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, TEGNA has an average rating of “Moderate Buy” and an average price target of $21.75.

TEGNA Stock Down 0.1 %

TGNA opened at $17.76 on Thursday. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.07. The firm has a market cap of $2.84 billion, a P/E ratio of 6.27 and a beta of 0.45. TEGNA Inc. has a 52 week low of $12.35 and a 52 week high of $19.62. The business’s fifty day simple moving average is $18.04 and its 200 day simple moving average is $17.15.

TEGNA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 7th will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend is Friday, March 7th. TEGNA’s payout ratio is currently 14.12%.

TEGNA 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.