Segall Bryant & Hamill LLC Sells 42,869 Shares of TEGNA Inc. (NYSE:TGNA)

Segall Bryant & Hamill LLC trimmed its stake in shares of TEGNA Inc. (NYSE:TGNA) by 12.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 310,717 shares of the company’s stock after selling 42,869 shares during the period. Segall Bryant & Hamill LLC owned about 0.19% of TEGNA worth $5,683,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp bought a new stake in shares of TEGNA in the fourth quarter valued at about $27,000. Smartleaf Asset Management LLC lifted its stake in 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 acquiring an additional 832 shares in the last quarter. GAMMA Investing LLC lifted its stake in 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 acquiring an additional 757 shares in the last quarter. Sound Income Strategies LLC acquired a new position in TEGNA during the 4th quarter worth approximately $57,000. Finally, Quarry LP grew its stake in shares of TEGNA by 455.2% during the 3rd quarter. Quarry LP now owns 4,025 shares of the company’s stock worth $64,000 after acquiring an additional 3,300 shares in the last quarter. 92.19% of the stock is owned by institutional investors.

TEGNA Stock Performance

Shares of TGNA stock opened at $18.73 on Thursday. The company has a fifty day moving average price of $18.03 and a two-hundred day moving average price of $17.46. TEGNA Inc. has a one year low of $12.35 and a one year high of $19.62. The stock has a market cap of $2.99 billion, a P/E ratio of 6.62 and a beta of 0.45. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.60 and a quick ratio of 2.60.

TEGNA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 7th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Friday, March 7th. TEGNA’s payout ratio is currently 14.12%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TGNA. Guggenheim restated a “buy” rating and set a $22.00 target price on shares of TEGNA in a report on Friday, January 24th. StockNews.com downgraded shares of TEGNA from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Finally, Wells Fargo & Company raised TEGNA from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $21.00 to $23.00 in a research report on Thursday, December 19th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $21.75.

TEGNA 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.