Royce & Associates LP Acquires 5,533 Shares of TEGNA Inc. (NYSE:TGNA)

Royce & Associates LP raised its stake in TEGNA Inc. (NYSE:TGNA) by 0.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,294,663 shares of the company’s stock after acquiring an additional 5,533 shares during the quarter. TEGNA comprises approximately 0.6% of Royce & Associates LP’s investment portfolio, making the stock its 29th biggest holding. Royce & Associates LP owned approximately 2.04% of TEGNA worth $60,259,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Natixis Advisors LLC acquired a new stake in shares of TEGNA during the 4th quarter worth approximately $279,000. Commonwealth Equity Services LLC grew its holdings in TEGNA by 19.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 26,023 shares of the company’s stock valued at $476,000 after purchasing an additional 4,303 shares during the period. Vestcor Inc lifted its stake in TEGNA by 1,963.9% in the fourth quarter. Vestcor Inc now owns 13,395 shares of the company’s stock valued at $245,000 after buying an additional 12,746 shares in the last quarter. HighTower Advisors LLC lifted its stake in TEGNA by 161.2% in the fourth quarter. HighTower Advisors LLC now owns 75,834 shares of the company’s stock valued at $1,387,000 after buying an additional 46,806 shares in the last quarter. Finally, Wealthfront Advisers LLC bought a new position in TEGNA in the fourth quarter valued at approximately $230,000. Institutional investors and hedge funds own 92.19% of the company’s stock.

TEGNA Stock Performance

NYSE TGNA opened at $17.65 on Friday. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.07. The firm’s fifty day moving average price is $17.98 and its two-hundred day moving average price is $17.20. TEGNA Inc. has a 1 year low of $12.35 and a 1 year high of $19.62. The firm has a market capitalization of $2.82 billion, a P/E ratio of 6.24 and a beta of 0.45.

TEGNA Dividend Announcement

The business also recently disclosed 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 is Friday, March 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.83%. TEGNA’s dividend payout ratio is currently 14.12%.

Analysts Set New Price Targets

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