Kestra Investment Management LLC Boosts Position in TEGNA Inc. (NYSE:TGNA)

Kestra Investment Management LLC grew its holdings in shares of TEGNA Inc. (NYSE:TGNA) by 37.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,795 shares of the company’s stock after buying an additional 16,679 shares during the quarter. Kestra Investment Management LLC’s holdings in TEGNA were worth $1,130,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TGNA. GAMMA Investing LLC lifted its holdings in shares of TEGNA by 59.0% during the 4th quarter. GAMMA Investing LLC now owns 2,040 shares of the company’s stock valued at $37,000 after acquiring an additional 757 shares in the last quarter. US Bancorp DE raised its position in TEGNA by 20.4% in the third quarter. US Bancorp DE now owns 4,503 shares of the company’s stock valued at $71,000 after purchasing an additional 764 shares during the period. Sanctuary Advisors LLC lifted its stake in shares of TEGNA by 7.4% during the third quarter. Sanctuary Advisors LLC now owns 17,994 shares of the company’s stock worth $284,000 after purchasing an additional 1,239 shares in the last quarter. Covestor Ltd boosted its position in shares of 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 during the period. Finally, Harbor Capital Advisors Inc. purchased a new stake in shares of TEGNA in the third quarter worth about $28,000. 92.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TGNA has been the topic of several recent research reports. JPMorgan Chase & Co. boosted their price target on TEGNA from $16.00 to $19.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. StockNews.com raised shares of TEGNA from a “hold” rating to a “buy” rating in a research report on Friday, December 13th. Guggenheim restated a “buy” rating and issued a $22.00 target price on shares of TEGNA in a research note on Friday, January 24th. Benchmark lifted their price target on shares of TEGNA from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, Wells Fargo & Company raised shares of 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 report on Thursday, December 19th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.75.

TEGNA Stock Performance

TEGNA stock opened at $18.16 on Tuesday. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.07. The stock has a 50 day moving average of $18.27 and a 200-day moving average of $16.73. The stock has a market cap of $2.93 billion, a P/E ratio of 6.42 and a beta of 0.52. TEGNA Inc. has a 52 week low of $12.35 and a 52 week high of $19.62.

TEGNA Announces Dividend

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 annualized dividend and a yield of 2.75%. The ex-dividend date is Friday, March 7th. TEGNA’s dividend payout ratio is currently 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.