PNC Financial Services Group Inc. Has $80,000 Stock Position in TEGNA Inc. (NYSE:TGNA)

PNC Financial Services Group Inc. lifted its position in shares of TEGNA Inc. (NYSE:TGNA) by 34.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,364 shares of the company’s stock after purchasing an additional 1,111 shares during the quarter. PNC Financial Services Group Inc.’s holdings in TEGNA were worth $80,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of TGNA. Thrivent Financial for Lutherans lifted its stake in TEGNA by 217.0% during the third quarter. Thrivent Financial for Lutherans now owns 129,912 shares of the company’s stock worth $2,050,000 after purchasing an additional 88,932 shares during the period. Advisors Asset Management Inc. raised its holdings in shares of TEGNA by 194.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 10,262 shares of the company’s stock worth $162,000 after buying an additional 6,782 shares in the last quarter. Intech Investment Management LLC lifted its position in shares of TEGNA by 179.6% during the 3rd quarter. Intech Investment Management LLC now owns 72,661 shares of the company’s stock worth $1,147,000 after buying an additional 46,678 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in TEGNA by 3.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,779,273 shares of the company’s stock valued at $28,077,000 after buying an additional 53,583 shares in the last quarter. Finally, Cerity Partners LLC grew its position in TEGNA by 82.3% in the third quarter. Cerity Partners LLC now owns 48,504 shares of the company’s stock valued at $765,000 after acquiring an additional 21,900 shares during the period. 92.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Wells Fargo & Company raised TEGNA from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $21.00 to $23.00 in a report on Thursday, December 19th. Guggenheim reissued a “buy” rating and set a $22.00 price target on shares of TEGNA in a report on Friday, January 24th. Finally, StockNews.com cut shares of TEGNA from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.75.

TEGNA Price Performance

Shares of TGNA stock opened at $18.91 on Wednesday. TEGNA Inc. has a 52 week low of $12.35 and a 52 week high of $19.62. The stock has a market capitalization of $3.02 billion, a PE ratio of 6.68 and a beta of 0.45. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.60 and a current ratio of 2.60. The stock’s fifty day moving average is $18.02 and its 200-day moving average is $17.45.

TEGNA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 7th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date is Friday, March 7th. TEGNA’s dividend payout ratio is currently 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.