Stifel Financial Corp Sells 1,016 Shares of TEGNA Inc. (NYSE:TGNA)

Stifel Financial Corp reduced its stake in TEGNA Inc. (NYSE:TGNA) by 1.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,616 shares of the company’s stock after selling 1,016 shares during the period. Stifel Financial Corp owned 0.05% of TEGNA worth $1,474,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of TGNA. Tower Research Capital LLC TRC increased its holdings in shares of TEGNA by 80.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,683 shares of the company’s stock valued at $31,000 after acquiring an additional 749 shares during the period. GAMMA Investing LLC grew its position in shares of TEGNA by 59.0% in the 4th 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. Smartleaf Asset Management LLC lifted its position in TEGNA by 95.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,702 shares of the company’s stock valued at $31,000 after acquiring an additional 832 shares during the last quarter. Pictet Asset Management Holding SA boosted its stake in TEGNA by 4.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 23,193 shares of the company’s stock valued at $424,000 after acquiring an additional 910 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in TEGNA by 34.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,364 shares of the company’s stock worth $80,000 after purchasing an additional 1,111 shares during the last quarter. Institutional investors own 92.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on TGNA shares. Wells Fargo & Company cut their price target on shares of TEGNA from $23.00 to $21.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st. Benchmark cut their target price on TEGNA from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday. StockNews.com lowered TEGNA from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Finally, Guggenheim cut their price objective on TEGNA from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.00.

TEGNA Stock Performance

Shares of NYSE:TGNA opened at $16.64 on Wednesday. The business’s 50 day moving average price is $17.09 and its 200-day moving average price is $17.71. TEGNA Inc. has a 1 year low of $12.35 and a 1 year high of $19.62. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.60 and a quick ratio of 2.60. The firm has a market capitalization of $2.67 billion, a PE ratio of 5.88 and a beta of 0.31.

TEGNA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 7th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.50 dividend on an annualized basis and a yield of 3.01%. TEGNA’s payout ratio is 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.