TEGNA Inc. (NYSE:TGNA) Shares Bought by Wells Fargo & Company MN

Wells Fargo & Company MN boosted its holdings in TEGNA Inc. (NYSE:TGNA - Free Report) by 9.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 223,654 shares of the company's stock after purchasing an additional 19,453 shares during the quarter. Wells Fargo & Company MN owned approximately 0.14% of TEGNA worth $4,091,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp purchased a new position in shares of TEGNA in the 4th quarter worth $27,000. Smartleaf Asset Management LLC increased its stake in TEGNA by 95.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,702 shares of the company's stock worth $31,000 after acquiring an additional 832 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of TEGNA by 59.0% in the 4th quarter. GAMMA Investing LLC now owns 2,040 shares of the company's stock worth $37,000 after purchasing an additional 757 shares during the period. Sound Income Strategies LLC acquired a new position in shares of TEGNA in the 4th quarter valued at about $57,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of TEGNA by 34.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,364 shares of the company's stock worth $80,000 after purchasing an additional 1,111 shares during the period. 92.19% of the stock is currently owned by hedge funds and other institutional investors.

TEGNA Stock Up 1.7 %

Shares of TGNA traded up $0.26 during mid-day trading on Wednesday, reaching $15.98. 1,281,990 shares of the stock traded hands, compared to its average volume of 2,022,085. The stock has a fifty day simple moving average of $17.34 and a 200 day simple moving average of $17.68. TEGNA Inc. has a 12-month low of $12.35 and a 12-month high of $19.62. 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 firm has a market cap of $2.57 billion, a price-to-earnings ratio of 5.65 and a beta of 0.25.

TEGNA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 7th were issued a $0.125 dividend. The ex-dividend date was Friday, March 7th. This represents a $0.50 dividend on an annualized basis and a yield of 3.13%. TEGNA's dividend payout ratio is currently 14.12%.

Analysts Set New Price Targets

A number of research analysts have weighed in on TGNA shares. Guggenheim reduced their price target on shares of TEGNA from $22.00 to $20.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. StockNews.com lowered shares of TEGNA from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $21.25.

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.