Bank of Montreal Can Takes $807,000 Position in TEGNA Inc. (NYSE:TGNA)

Bank of Montreal Can bought a new stake in shares of TEGNA Inc. (NYSE:TGNA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 49,085 shares of the company’s stock, valued at approximately $807,000.

Several other large investors have also recently modified their holdings of the stock. Belpointe Asset Management LLC grew its position in TEGNA by 189.5% in the 1st quarter. Belpointe Asset Management LLC now owns 1,459 shares of the company’s stock valued at $25,000 after acquiring an additional 955 shares during the last quarter. Ellevest Inc. grew its position in TEGNA by 641.1% in the 1st quarter. Ellevest Inc. now owns 1,549 shares of the company’s stock valued at $26,000 after acquiring an additional 1,340 shares during the last quarter. Signaturefd LLC grew its position in TEGNA by 179.8% in the 1st quarter. Signaturefd LLC now owns 1,690 shares of the company’s stock valued at $29,000 after acquiring an additional 1,086 shares during the last quarter. Fifth Third Bancorp grew its position in TEGNA by 103.3% in the 2nd quarter. Fifth Third Bancorp now owns 2,690 shares of the company’s stock valued at $44,000 after acquiring an additional 1,367 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in shares of TEGNA by 24.1% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 3,308 shares of the company’s stock worth $54,000 after buying an additional 642 shares during the period. Institutional investors own 89.99% of the company’s stock.

TEGNA Trading Down 0.1 %

Shares of NYSE TGNA opened at $15.61 on Tuesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 3.47 and a quick ratio of 3.47. The stock has a market capitalization of $3.07 billion, a P/E ratio of 5.52 and a beta of 0.64. TEGNA Inc. has a 1-year low of $13.65 and a 1-year high of $22.29. The business has a fifty day moving average price of $14.79 and a 200 day moving average price of $15.79.

TEGNA Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 8th will be paid a dividend of $0.114 per share. This is a boost from TEGNA’s previous quarterly dividend of $0.11. This represents a $0.46 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend is Thursday, December 7th. TEGNA’s dividend payout ratio is 16.25%.

Insider Buying and Selling

In related news, COO Lynn B. Trelstad sold 30,000 shares of the company’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $16.57, for a total transaction of $497,100.00. Following the completion of the sale, the chief operating officer now directly owns 181,881 shares in the company, valued at approximately $3,013,768.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

TGNA has been the subject of several research reports. Benchmark reiterated a “buy” rating and issued a $22.00 target price on shares of TEGNA in a report on Monday, October 30th. Wells Fargo & Company lowered their target price on TEGNA from $19.00 to $17.00 and set an “equal weight” rating for the company in a report on Wednesday, November 8th. Finally, StockNews.com initiated coverage on TEGNA in a report on Thursday, October 5th. They issued a “hold” rating for the company.

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.