Vanguard Group Inc. Sells 261,721 Shares of TEGNA Inc. (NYSE:TGNA)

Vanguard Group Inc. lowered its stake in shares of TEGNA Inc. (NYSE:TGNA) by 1.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,790,898 shares of the company’s stock after selling 261,721 shares during the quarter. Vanguard Group Inc. owned about 0.16% of TEGNA worth $471,716,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of TGNA. Charles Schwab Investment Management Inc. raised its position 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 worth $28,077,000 after acquiring an additional 53,583 shares in the last quarter. Cerity Partners LLC increased its stake in shares of TEGNA by 82.3% in the 3rd quarter. Cerity Partners LLC now owns 48,504 shares of the company’s stock worth $765,000 after acquiring an additional 21,900 shares in the last quarter. Quantbot Technologies LP bought a new stake in TEGNA during the third quarter worth about $133,000. BNP Paribas Financial Markets grew its holdings in TEGNA by 9.8% in the third quarter. BNP Paribas Financial Markets now owns 39,038 shares of the company’s stock worth $616,000 after purchasing an additional 3,469 shares during the period. Finally, Holocene Advisors LP bought a new position in shares of TEGNA during the third quarter valued at approximately $3,096,000. 92.19% of the stock is owned by institutional investors.

TEGNA Price Performance

Shares of NYSE:TGNA opened at $18.54 on Wednesday. The business has a 50-day simple moving average of $18.05 and a two-hundred day simple moving average of $17.61. 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 firm has a market cap of $2.96 billion, a price-to-earnings ratio of 6.55 and a beta of 0.45. TEGNA Inc. has a fifty-two week low of $12.35 and a fifty-two week high of $19.62.

TEGNA Announces Dividend

The business also recently disclosed 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. The ex-dividend date was Friday, March 7th. This represents a $0.50 dividend on an annualized basis and a yield of 2.70%. TEGNA’s dividend payout ratio (DPR) is 14.12%.

Analyst Upgrades and Downgrades

TGNA has been the topic of several recent research reports. StockNews.com downgraded TEGNA from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Guggenheim reissued a “buy” rating and set a $22.00 price objective on shares of TEGNA in a research report on Friday, January 24th. Finally, Wells Fargo & Company upgraded shares of TEGNA from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $21.00 to $23.00 in a research note on Thursday, December 19th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, TEGNA presently has a consensus rating of “Moderate Buy” and an average target price 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.