Sanctuary Advisors LLC Boosts Stock Position in TEGNA Inc. (NYSE:TGNA)

Sanctuary Advisors LLC grew its position in shares of TEGNA Inc. (NYSE:TGNA) by 16.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 20,965 shares of the company’s stock after purchasing an additional 2,971 shares during the quarter. Sanctuary Advisors LLC’s holdings in TEGNA were worth $385,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. increased its position in shares of TEGNA by 26.2% during the 3rd quarter. Principal Financial Group Inc. now owns 891,488 shares of the company’s stock valued at $14,068,000 after purchasing an additional 184,845 shares during the last quarter. Capital Management Corp VA lifted its stake in shares of TEGNA by 30.3% in the 3rd quarter. Capital Management Corp VA now owns 725,805 shares of the company’s stock valued at $11,453,000 after purchasing an additional 168,667 shares during the period. EMC Capital Management lifted its stake in shares of TEGNA by 648.8% in the 4th quarter. EMC Capital Management now owns 20,346 shares of the company’s stock valued at $372,000 after purchasing an additional 17,629 shares during the period. Guidance Capital Inc. bought a new position in TEGNA during the 4th quarter valued at approximately $476,000. Finally, World Investment Advisors LLC bought a new position in TEGNA during the 3rd quarter valued at approximately $528,000. Hedge funds and other institutional investors own 92.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on TGNA shares. Benchmark lifted their price objective on TEGNA from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, November 8th. JPMorgan Chase & Co. boosted their price objective on TEGNA from $16.00 to $19.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. StockNews.com cut TEGNA from a “buy” rating to a “hold” rating in a report on Friday. Wells Fargo & Company raised TEGNA from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $21.00 to $23.00 in a report on Thursday, December 19th. Finally, Guggenheim reissued a “buy” rating and set a $22.00 price objective on shares of TEGNA in a research note on Friday, January 24th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.75.

TEGNA Trading Down 2.5 %

Shares of TEGNA stock opened at $17.75 on Tuesday. 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 fifty day moving average price of $18.15 and a 200 day moving average price of $16.96. TEGNA Inc. has a 1 year low of $12.35 and a 1 year high of $19.62. The stock has a market cap of $2.86 billion, a PE ratio of 6.27 and a beta of 0.52.

TEGNA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 7th will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.82%. TEGNA’s dividend payout ratio is currently 17.67%.

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.