Rothschild Investment LLC Lowers Stake in TEGNA Inc. (NYSE:TGNA)

Rothschild Investment LLC cut its stake in TEGNA Inc. (NYSE:TGNA) by 2.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,501 shares of the company’s stock after selling 695 shares during the period. Rothschild Investment LLC’s holdings in TEGNA were worth $448,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings 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 purchasing an additional 757 shares in the last quarter. US Bancorp DE lifted its position in TEGNA by 20.4% in the 3rd quarter. US Bancorp DE now owns 4,503 shares of the company’s stock worth $71,000 after buying an additional 764 shares during the last quarter. Sanctuary Advisors LLC boosted its stake in TEGNA by 7.4% in the third quarter. Sanctuary Advisors LLC now owns 17,994 shares of the company’s stock worth $284,000 after buying an additional 1,239 shares in the last quarter. Covestor Ltd boosted its stake in TEGNA by 20.8% in the third quarter. Covestor Ltd now owns 8,852 shares of the company’s stock worth $140,000 after buying an additional 1,525 shares in the last quarter. Finally, Harbor Capital Advisors Inc. bought a new position in TEGNA during the third quarter valued at approximately $28,000. Institutional investors own 92.19% of the company’s stock.

Wall Street Analyst Weigh In

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

TEGNA Price Performance

TGNA stock opened at $16.92 on Wednesday. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of 5.98 and a beta of 0.52. The firm’s 50-day moving average price is $18.18 and its two-hundred day moving average price is $16.88. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.07. TEGNA Inc. has a 12-month low of $12.35 and a 12-month high of $19.62.

TEGNA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 7th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date is Friday, March 7th. TEGNA’s payout ratio is 17.67%.

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.