Three Seasons Wealth LLC Takes Position in TEGNA Inc. (NYSE:TGNA)

Three Seasons Wealth LLC acquired a new stake in shares of TEGNA Inc. (NYSE:TGNA - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 27,786 shares of the company's stock, valued at approximately $512,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Hancock Whitney Corp lifted its stake in shares of TEGNA by 170.4% during the fourth quarter. Hancock Whitney Corp now owns 89,688 shares of the company's stock valued at $1,640,000 after buying an additional 56,520 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of TEGNA by 6.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 154,792 shares of the company's stock worth $2,832,000 after buying an additional 9,568 shares during the last quarter. Pinebridge Investments L.P. raised its position in shares of TEGNA by 42.7% in the 4th quarter. Pinebridge Investments L.P. now owns 112,024 shares of the company's stock worth $2,049,000 after buying an additional 33,512 shares during the period. Hsbc Holdings PLC boosted its holdings in TEGNA by 122.2% in the fourth quarter. Hsbc Holdings PLC now owns 71,723 shares of the company's stock valued at $1,318,000 after acquiring an additional 39,451 shares during the last quarter. Finally, State of Tennessee Department of Treasury acquired a new position in TEGNA in the fourth quarter valued at $1,250,000. Hedge funds and other institutional investors own 92.19% of the company's stock.

TEGNA Stock Down 1.0 %

Shares of NYSE:TGNA traded down $0.16 during trading on Wednesday, hitting $16.17. The company's stock had a trading volume of 291,561 shares, compared to its average volume of 2,009,656. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.60 and a current ratio of 2.60. TEGNA Inc. has a fifty-two week low of $12.35 and a fifty-two week high of $19.62. The stock's 50-day moving average price is $17.19 and its two-hundred day moving average price is $17.71. The company has a market capitalization of $2.60 billion, a PE ratio of 5.71 and a beta of 0.25.

TEGNA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 7th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend was Friday, March 7th. TEGNA's dividend payout ratio (DPR) is 14.12%.

Analyst Upgrades and Downgrades

TGNA has been the topic of a number of research analyst reports. Guggenheim reduced their target price on TEGNA from $22.00 to $20.00 and set a "buy" rating on the stock in a report on Friday, April 11th. StockNews.com cut TEGNA from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Two 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 presently has an average rating of "Moderate Buy" and a consensus price target of $21.25.

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.