Allspring Global Investments Holdings LLC purchased a new stake in shares of TEGNA Inc. (NYSE:TGNA – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,149 shares of the company’s stock, valued at approximately $84,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Belpointe Asset Management LLC raised its stake in shares of TEGNA by 189.5% during the first 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. raised its stake in TEGNA by 641.1% during the first quarter. Ellevest Inc. now owns 1,549 shares of the company’s stock worth $26,000 after buying an additional 1,340 shares during the last quarter. Signaturefd LLC raised its stake in TEGNA by 179.8% during the first quarter. Signaturefd LLC now owns 1,690 shares of the company’s stock worth $29,000 after buying an additional 1,086 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in TEGNA by 49.7% during the first quarter. Parkside Financial Bank & Trust now owns 3,228 shares of the company’s stock worth $55,000 after buying an additional 1,071 shares during the last quarter. Finally, Covestor Ltd raised its stake in TEGNA by 87.0% during the first quarter. Covestor Ltd now owns 3,390 shares of the company’s stock worth $76,000 after buying an additional 1,577 shares during the last quarter. 89.99% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on TGNA shares. Wells Fargo & Company lowered their target price on shares of TEGNA from $19.00 to $17.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 8th. Benchmark reissued a “buy” rating and set a $22.00 target price on shares of TEGNA in a research note on Monday, October 30th. Finally, StockNews.com started coverage on shares of TEGNA in a research note on Thursday, October 5th. They set a “hold” rating for the company.
Insider Buying and Selling at TEGNA
In other news, COO Lynn B. Trelstad sold 30,000 shares of TEGNA stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $16.57, for a total transaction of $497,100.00. Following the completion of the transaction, the chief operating officer now directly owns 181,881 shares in the company, valued at $3,013,768.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.10% of the company’s stock.
TEGNA Trading Down 1.3 %
TGNA opened at $15.79 on Friday. TEGNA Inc. has a 1-year low of $13.65 and a 1-year high of $22.29. The company has a current ratio of 3.47, a quick ratio of 3.47 and a debt-to-equity ratio of 1.04. The company has a market cap of $3.11 billion, a P/E ratio of 5.58 and a beta of 0.64. The company has a fifty day moving average price of $14.81 and a two-hundred day moving average price of $15.78.
TEGNA Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th will be paid a $0.114 dividend. This is an increase from TEGNA’s previous quarterly dividend of $0.11. This represents a $0.46 annualized dividend and a yield of 2.89%. The ex-dividend date is Thursday, December 7th. TEGNA’s payout ratio is 16.25%.
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.
- Five stocks we like better than TEGNA
- Transportation Stocks Investing
- Amazon, Target, Walmart in a race for fastest delivery
- What is Put Option Volume?
- Palo Alto Networks: the one security stock to rule them all
- The 3 Best Retail Stocks to Shop for in August
- Is it time to buy the dip in Walmart shares?
Receive News & Ratings for TEGNA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TEGNA and related companies with MarketBeat.com's FREE daily email newsletter.