Blue Trust Inc. Sells 18,787 Shares of TEGNA Inc. (NYSE:TGNA)

Blue Trust Inc. decreased its holdings in TEGNA Inc. (NYSE:TGNA) by 84.9% during the 4th quarter, HoldingsChannel reports. The firm owned 3,354 shares of the company’s stock after selling 18,787 shares during the quarter. Blue Trust Inc.’s holdings in TEGNA were worth $61,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of TGNA. Creative Planning grew its holdings in shares of TEGNA by 10.8% during the 3rd quarter. Creative Planning now owns 53,240 shares of the company’s stock valued at $840,000 after purchasing an additional 5,192 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of TEGNA by 6.0% during the third quarter. Assenagon Asset Management S.A. now owns 153,083 shares of the company’s stock worth $2,416,000 after buying an additional 8,678 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of TEGNA by 66.7% during the third quarter. Louisiana State Employees Retirement System now owns 80,000 shares of the company’s stock worth $1,262,000 after buying an additional 32,000 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of TEGNA by 4.1% during the third quarter. DekaBank Deutsche Girozentrale now owns 451,928 shares of the company’s stock worth $7,060,000 after buying an additional 17,692 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in shares of TEGNA by 411.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 94,404 shares of the company’s stock valued at $1,489,000 after acquiring an additional 75,959 shares during the last quarter. Institutional investors and hedge funds own 92.19% of the company’s stock.

TEGNA Price Performance

Shares of TGNA opened at $17.46 on Tuesday. The business has a 50-day moving average of $18.20 and a 200-day moving average of $16.85. 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 company has a market capitalization of $2.81 billion, a price-to-earnings ratio of 6.17 and a beta of 0.52. TEGNA Inc. has a 1 year low of $12.35 and a 1 year high of $19.62.

TEGNA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 7th will be given a $0.125 dividend. 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 2.86%. TEGNA’s dividend payout ratio (DPR) is currently 17.67%.

Analysts Set New Price Targets

TGNA has been the subject of a number of recent research reports. Benchmark upped their target price on TEGNA from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Wells Fargo & Company raised TEGNA from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $21.00 to $23.00 in a research note on Thursday, December 19th. Guggenheim reiterated a “buy” rating and set a $22.00 target price on shares of TEGNA in a research report on Friday, January 24th. JPMorgan Chase & Co. upped their price target on shares of TEGNA from $16.00 to $19.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Finally, StockNews.com raised shares of TEGNA from a “hold” rating to a “buy” rating in a research note on Friday, December 13th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $21.75.

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.