Mitsubishi UFJ Trust & Banking Corp Sells 30,795 Shares of TEGNA Inc. (NYSE:TGNA)

Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 23.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,079 shares of the company's stock after selling 30,795 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.06% of TEGNA worth $1,812,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jones Financial Companies Lllp bought a new stake in shares of TEGNA in the fourth quarter valued at $27,000. Smartleaf Asset Management LLC lifted its holdings in TEGNA by 95.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,702 shares of the company's stock worth $31,000 after purchasing an additional 832 shares in the last quarter. GAMMA Investing LLC grew its stake in 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 acquiring an additional 757 shares in the last quarter. Sound Income Strategies LLC purchased a new position in shares of TEGNA during the 4th quarter valued at $57,000. Finally, 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 acquiring an additional 3,300 shares during the last quarter. 92.19% of the stock is owned by hedge funds and other institutional investors.

TEGNA Trading Down 9.8 %

Shares of TGNA traded down $1.87 during trading hours on Thursday, hitting $17.12. The company had a trading volume of 3,248,600 shares, compared to its average volume of 1,989,127. The firm has a market cap of $2.74 billion, a P/E ratio of 6.05 and a beta of 0.25. TEGNA Inc. has a 52-week low of $12.35 and a 52-week high of $19.62. The stock's 50 day moving average price is $18.06 and its 200 day moving average price is $17.61. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.07.

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TEGNA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 7th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.92%. The ex-dividend date was Friday, March 7th. TEGNA's dividend payout ratio is 14.12%.

Analyst Ratings Changes

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

TEGNA Company 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.