TEGNA Inc. (NYSE:TGNA) Shares Sold by Signaturefd LLC

Signaturefd LLC cut its position in TEGNA Inc. (NYSE:TGNA) by 15.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,655 shares of the company’s stock after selling 1,911 shares during the period. Signaturefd LLC’s holdings in TEGNA were worth $195,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Jones Financial Companies Lllp purchased a new stake in shares of TEGNA in the fourth quarter worth about $27,000. Smartleaf Asset Management LLC boosted its stake in shares of TEGNA by 95.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,702 shares of the company’s stock worth $31,000 after buying an additional 832 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of TEGNA by 59.0% in the fourth quarter. GAMMA Investing LLC now owns 2,040 shares of the company’s stock worth $37,000 after buying an additional 757 shares during the last quarter. Sound Income Strategies LLC purchased a new stake in shares of TEGNA in the fourth quarter worth about $57,000. Finally, Quarry LP boosted its stake in shares of TEGNA by 455.2% in the third quarter. Quarry LP now owns 4,025 shares of the company’s stock worth $64,000 after buying an additional 3,300 shares during the last quarter. 92.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

TEGNA Stock Performance

Shares of TGNA stock opened at $18.53 on Friday. The company has a market capitalization of $2.96 billion, a P/E ratio of 6.55 and a beta of 0.45. The business’s 50 day moving average is $17.99 and its two-hundred day moving average is $17.36. 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 Inc. has a 12-month low of $12.35 and a 12-month high of $19.62.

TEGNA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 7th will be given a $0.125 dividend. The ex-dividend date is Friday, March 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.70%. TEGNA’s dividend payout ratio (DPR) is presently 14.12%.

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.