Kestra Investment Management LLC Has $1.13 Million Stake in TEGNA Inc. (NYSE:TGNA)

Kestra Investment Management LLC boosted its holdings in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 37.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 61,795 shares of the company's stock after purchasing an additional 16,679 shares during the period. Kestra Investment Management LLC's holdings in TEGNA were worth $1,130,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in TGNA. Harbor Capital Advisors Inc. acquired a new stake in shares of TEGNA during the 3rd quarter valued at $28,000. GAMMA Investing LLC lifted its holdings in shares of TEGNA by 59.0% during the fourth quarter. GAMMA Investing LLC now owns 2,040 shares of the company's stock valued at $37,000 after purchasing an additional 757 shares during the last quarter. Sound Income Strategies LLC acquired a new position in shares of TEGNA in the 4th quarter valued at $57,000. Quarry LP increased its stake in TEGNA by 455.2% in the 3rd quarter. Quarry LP now owns 4,025 shares of the company's stock worth $64,000 after purchasing an additional 3,300 shares in the last quarter. Finally, US Bancorp DE increased its stake 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 purchasing an additional 764 shares in the last quarter. 92.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

TEGNA Stock Up 0.8 %

TEGNA stock traded up $0.15 during trading hours on Thursday, hitting $18.16. The company had a trading volume of 954,789 shares, compared to its average volume of 1,047,239. The firm's fifty day moving average is $18.25 and its 200-day moving average is $16.76. The firm has a market capitalization of $2.93 billion, a P/E ratio of 6.42 and a beta of 0.52. TEGNA Inc. has a fifty-two week low of $12.35 and a fifty-two week 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.

TEGNA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors 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 dividend on an annualized basis and a yield of 2.75%. 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.