Prudential Financial Inc. Sells 14,725 Shares of TEGNA Inc. (NYSE:TGNA)

Prudential Financial Inc. cut its stake in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 4.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 356,859 shares of the company's stock after selling 14,725 shares during the quarter. Prudential Financial Inc. owned 0.22% of TEGNA worth $6,527,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its stake in shares of TEGNA by 26.2% in the 3rd quarter. Principal Financial Group Inc. now owns 891,488 shares of the company's stock valued at $14,068,000 after acquiring an additional 184,845 shares during the last quarter. EMC Capital Management increased its position in TEGNA by 648.8% in the 4th quarter. EMC Capital Management now owns 20,346 shares of the company's stock valued at $372,000 after acquiring an additional 17,629 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of TEGNA by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,873,167 shares of the company's stock worth $34,260,000 after purchasing an additional 93,894 shares during the last quarter. Guidance Capital Inc. acquired a new stake in TEGNA in the fourth quarter valued at $476,000. Finally, World Investment Advisors LLC bought a new position in TEGNA during the 3rd quarter worth $528,000. 92.19% of the stock is currently owned by institutional investors and hedge funds.

TEGNA Stock Down 6.3 %

NYSE TGNA traded down $1.08 on Friday, hitting $16.02. 2,434,026 shares of the company were exchanged, compared to its average volume of 1,990,207. 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 company has a market cap of $2.56 billion, a PE ratio of 5.66 and a beta of 0.25. The stock has a fifty day moving average of $18.01 and a 200-day moving average of $17.62. TEGNA Inc. has a 12 month low of $12.35 and a 12 month high of $19.62.

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TEGNA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 7th were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.50 annualized dividend and a dividend yield of 3.12%. TEGNA's dividend payout ratio is 14.12%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Guggenheim reissued a "buy" rating and set a $22.00 target price on shares of TEGNA in a research report on Friday, January 24th. Wells Fargo & Company raised shares of TEGNA from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $21.00 to $23.00 in a research note on Thursday, December 19th. Finally, StockNews.com cut shares of TEGNA from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, TEGNA currently has a consensus rating of "Moderate Buy" and an average price target 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.