Mission Wealth Management LP Has $570,000 Stock Holdings in TEGNA Inc. (NYSE:TGNA)

Mission Wealth Management LP decreased its position in TEGNA Inc. (NYSE:TGNA) by 31.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 31,140 shares of the company’s stock after selling 14,182 shares during the period. Mission Wealth Management LP’s holdings in TEGNA were worth $570,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC grew 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 valued at $37,000 after buying an additional 757 shares during the period. US Bancorp DE grew its holdings in shares of TEGNA by 20.4% in the 3rd quarter. US Bancorp DE now owns 4,503 shares of the company’s stock valued at $71,000 after buying an additional 764 shares during the period. Smartleaf Asset Management LLC grew its holdings in shares of TEGNA by 95.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,702 shares of the company’s stock valued at $31,000 after buying an additional 832 shares during the period. Sanctuary Advisors LLC grew its holdings 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 buying an additional 1,239 shares during the period. Finally, Jones Financial Companies Lllp acquired a new position in shares of TEGNA in the 4th quarter valued at $27,000. Institutional investors and hedge funds own 92.19% of the company’s stock.

TEGNA Trading Up 0.1 %

TGNA opened at $17.32 on Thursday. The firm’s fifty day simple moving average is $18.12 and its 200 day simple moving average is $17.02. 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. The stock has a market capitalization of $2.79 billion, a P/E ratio of 6.12 and a beta of 0.52.

TEGNA Announces Dividend

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. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.50 annualized dividend and a yield of 2.89%. TEGNA’s dividend payout ratio (DPR) is presently 14.12%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TGNA shares. StockNews.com lowered shares of TEGNA from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Wells Fargo & Company raised shares of TEGNA from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $21.00 to $23.00 in a research report on Thursday, December 19th. Benchmark boosted their price objective 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. Guggenheim reaffirmed a “buy” rating and issued a $22.00 price objective on shares of TEGNA in a research report on Friday, January 24th. Finally, JPMorgan Chase & Co. boosted their price objective 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. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $21.75.

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.