Prudential Financial Inc. Has $6.53 Million Holdings in TEGNA Inc. (NYSE:TGNA)

Prudential Financial Inc. trimmed its position in shares of TEGNA Inc. (NYSE:TGNA – Free Report) by 4.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 356,859 shares of the company’s stock after selling 14,725 shares during the period. Prudential Financial Inc. owned approximately 0.22% of TEGNA worth $6,527,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of TGNA. GAMMA Investing LLC boosted its position in shares of TEGNA by 59.0% during the 4th quarter. GAMMA Investing LLC now owns 2,040 shares of the company’s stock worth $37,000 after acquiring an additional 757 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in TEGNA by 95.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,702 shares of the company’s stock worth $31,000 after purchasing an additional 832 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of TEGNA by 34.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,364 shares of the company’s stock valued at $80,000 after purchasing an additional 1,111 shares in the last quarter. Sanctuary Advisors LLC increased its stake in shares of TEGNA by 7.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 17,994 shares of the company’s stock valued at $284,000 after purchasing an additional 1,239 shares during the last quarter. Finally, Jones Financial Companies Lllp bought a new position in shares of TEGNA in the 4th quarter valued at $27,000. 92.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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TEGNA Stock Performance

TEGNA stock opened at $18.10 on Monday. 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 company has a market capitalization of $2.89 billion, a P/E ratio of 6.39 and a beta of 0.45. The business has a 50 day moving average of $18.03 and a 200-day moving average of $17.55.

TEGNA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 7th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.76%. TEGNA’s dividend payout ratio is 14.12%.

TEGNA Profile

(Free Report)

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.