Corient Private Wealth LLC Reduces Position in TEGNA Inc. (NYSE:TGNA)

Corient Private Wealth LLC decreased its position in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 17.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 65,953 shares of the company's stock after selling 13,487 shares during the period. Corient Private Wealth LLC's holdings in TEGNA were worth $1,206,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in TGNA. Natixis Advisors LLC bought a new stake in TEGNA during the 4th quarter valued at about $279,000. Commonwealth Equity Services LLC boosted its position in shares of TEGNA by 19.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 26,023 shares of the company's stock valued at $476,000 after buying an additional 4,303 shares during the last quarter. Vestcor Inc increased its holdings in TEGNA by 1,963.9% in the 4th quarter. Vestcor Inc now owns 13,395 shares of the company's stock worth $245,000 after buying an additional 12,746 shares in the last quarter. HighTower Advisors LLC raised its position in TEGNA by 161.2% in the 4th quarter. HighTower Advisors LLC now owns 75,834 shares of the company's stock worth $1,387,000 after buying an additional 46,806 shares during the last quarter. Finally, Wealthfront Advisers LLC bought a new position in TEGNA during the 4th quarter valued at about $230,000. Hedge funds and other institutional investors own 92.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Guggenheim restated a "buy" rating and set a $22.00 price objective on shares of TEGNA in a research report on Friday, January 24th. StockNews.com downgraded TEGNA from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Finally, Wells Fargo & Company upgraded TEGNA from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $21.00 to $23.00 in a research note on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $21.75.

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TEGNA Stock Performance

NYSE:TGNA traded down $0.20 during mid-day trading on Friday, hitting $18.10. 1,450,090 shares of the company traded hands, compared to its average volume of 1,977,089. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.07. The stock's fifty day moving average price is $18.03 and its 200-day moving average price is $17.55. The firm has a market cap of $2.89 billion, a price-to-earnings ratio of 6.39 and a beta of 0.45. TEGNA Inc. has a one year low of $12.35 and a one year high of $19.62.

TEGNA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 7th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.76%. The ex-dividend date is Friday, March 7th. TEGNA's dividend payout ratio is currently 14.12%.

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.