Shares of TEGNA Inc. (NYSE:TGNA) have earned an average rating of “Hold” from the fifteen brokerages that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $14.10.
Several analysts recently issued reports on the company. ValuEngine upgraded TEGNA from a “sell” rating to a “hold” rating in a report on Wednesday, November 7th. Zacks Investment Research downgraded TEGNA from a “buy” rating to a “hold” rating and set a $15.00 price target on the stock. in a research report on Thursday, December 6th. Noble Financial reissued a “buy” rating on shares of TEGNA in a research report on Friday, November 16th. Finally, B. Riley boosted their price target on TEGNA from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 18th.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Advisory Services Network LLC acquired a new position in shares of TEGNA in the fourth quarter valued at approximately $52,000. Public Employees Retirement System of Ohio grew its position in shares of TEGNA by 0.6% in the fourth quarter. Public Employees Retirement System of Ohio now owns 1,854,167 shares of the company’s stock valued at $20,155,000 after purchasing an additional 10,579 shares during the last quarter. Millennium Management LLC grew its position in shares of TEGNA by 602.9% in the fourth quarter. Millennium Management LLC now owns 948,397 shares of the company’s stock valued at $10,309,000 after purchasing an additional 813,469 shares during the last quarter. Legal & General Group Plc grew its position in shares of TEGNA by 0.9% in the fourth quarter. Legal & General Group Plc now owns 338,721 shares of the company’s stock valued at $3,682,000 after purchasing an additional 2,861 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its position in shares of TEGNA by 5.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 54,648 shares of the company’s stock valued at $594,000 after purchasing an additional 2,598 shares during the last quarter. 92.95% of the stock is currently owned by hedge funds and other institutional investors.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 8th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date is Thursday, March 7th. TEGNA’s dividend payout ratio (DPR) is presently 25.93%.
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.
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