Corient Private Wealth LLC Has $1.21 Million Position in TEGNA Inc. (NYSE:TGNA)

Corient Private Wealth LLC cut its stake in TEGNA Inc. (NYSE:TGNA) by 17.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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 filing with the Securities and Exchange Commission.

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

Analyst Upgrades and Downgrades

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

TEGNA Stock Down 1.2 %

Shares of TGNA opened at $18.73 on Thursday. 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 company has a 50-day simple moving average of $18.03 and a 200-day simple moving average of $17.46. TEGNA Inc. has a 52 week low of $12.35 and a 52 week high of $19.62. The firm has a market capitalization of $2.99 billion, a P/E ratio of 6.62 and a beta of 0.45.

TEGNA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 7th will be issued a $0.125 dividend. 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 14.12%.

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.