Atria Wealth Solutions Inc. Acquires Shares of 12,611 TEGNA Inc. (NYSE:TGNA)

Atria Wealth Solutions Inc. acquired a new stake in TEGNA Inc. (NYSE:TGNA) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 12,611 shares of the company’s stock, valued at approximately $232,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. raised its holdings in TEGNA by 2,898.4% in the 3rd quarter. Pacer Advisors Inc. now owns 10,806,130 shares of the company’s stock valued at $170,521,000 after acquiring an additional 10,445,739 shares in the last quarter. State Street Corp increased its stake 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 valued at $129,991,000 after purchasing an additional 276,699 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of TEGNA by 5.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,905,588 shares of the company’s stock valued at $77,422,000 after purchasing an additional 238,696 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of TEGNA by 3.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,779,273 shares of the company’s stock valued at $28,077,000 after purchasing an additional 53,583 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of TEGNA by 2.3% in the 4th quarter. Principal Financial Group Inc. now owns 911,617 shares of the company’s stock valued at $16,673,000 after purchasing an additional 20,129 shares during the last quarter. 92.19% of the stock is owned by institutional investors and hedge funds.

TEGNA Stock Up 1.3 %

Shares of TGNA opened at $18.17 on Friday. The company has a market capitalization of $2.93 billion, a PE ratio of 6.42 and a beta of 0.52. TEGNA Inc. has a 12 month low of $12.35 and a 12 month high of $19.62. The stock’s 50-day moving average price is $18.15 and its two-hundred day moving average price is $16.94. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.07.

TEGNA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 7th will be given a dividend of $0.125 per share. The ex-dividend date is Friday, March 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.75%. TEGNA’s payout ratio is 17.67%.

Analyst Upgrades and Downgrades

TGNA has been the topic of a number of research reports. Benchmark boosted their price objective on TEGNA from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Guggenheim restated a “buy” rating and set a $22.00 price objective on shares of TEGNA in a research report on Friday, January 24th. Wells Fargo & Company upgraded TEGNA from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $21.00 to $23.00 in a research report on Thursday, December 19th. StockNews.com lowered TEGNA from a “buy” rating to a “hold” rating in a research report on Friday. Finally, JPMorgan Chase & Co. boosted their price objective on TEGNA from $16.00 to $19.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Two investment 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 stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.