Amalgamated Bank Sells 1,659 Shares of TEGNA Inc. (NYSE:TGNA)

Amalgamated Bank decreased its stake in shares of TEGNA Inc. (NYSE:TGNA) by 3.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,403 shares of the company’s stock after selling 1,659 shares during the quarter. Amalgamated Bank’s holdings in TEGNA were worth $867,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its position in shares of TEGNA by 59.0% during the fourth quarter. GAMMA Investing LLC now owns 2,040 shares of the company’s stock worth $37,000 after acquiring an additional 757 shares during the period. US Bancorp DE grew its stake in TEGNA by 20.4% in the third quarter. US Bancorp DE now owns 4,503 shares of the company’s stock worth $71,000 after purchasing an additional 764 shares in the last quarter. Sanctuary Advisors LLC increased its holdings in TEGNA by 7.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 17,994 shares of the company’s stock worth $284,000 after purchasing an additional 1,239 shares during the period. Covestor Ltd raised its position in TEGNA by 20.8% during the 3rd quarter. Covestor Ltd now owns 8,852 shares of the company’s stock valued at $140,000 after purchasing an additional 1,525 shares in the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new stake in shares of TEGNA in the 3rd quarter worth $28,000. 92.19% of the stock is owned by hedge funds and other institutional investors.

TEGNA Stock Performance

TGNA stock opened at $17.75 on Tuesday. TEGNA Inc. has a one year low of $12.35 and a one year high of $19.62. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of 6.27 and a beta of 0.52. 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 50-day simple moving average of $18.15 and a two-hundred day simple moving average of $16.96.

TEGNA Announces Dividend

The company 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 dividend on an annualized basis and a yield of 2.82%. TEGNA’s payout ratio is 17.67%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TGNA. JPMorgan Chase & Co. raised their price target on TEGNA from $16.00 to $19.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Wells Fargo & Company raised shares of TEGNA from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $21.00 to $23.00 in a research report on Thursday, December 19th. StockNews.com lowered shares of TEGNA from a “buy” rating to a “hold” rating in a report on Friday. Benchmark increased their price objective on shares of TEGNA from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Guggenheim reissued a “buy” rating and issued a $22.00 price objective on shares of TEGNA in a research note on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $21.75.

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.