TEGNA Inc. (NYSE:TGNA) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. lowered its holdings in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 6.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 467,847 shares of the company's stock after selling 30,877 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.29% of TEGNA worth $8,561,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Tower Research Capital LLC TRC raised its holdings in shares of TEGNA by 80.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,683 shares of the company's stock valued at $31,000 after acquiring an additional 749 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of TEGNA by 95.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,702 shares of the company's stock valued at $31,000 after acquiring an additional 832 shares during the last quarter. Pictet Asset Management Holding SA raised its holdings in shares of TEGNA by 4.1% during the fourth quarter. Pictet Asset Management Holding SA now owns 23,193 shares of the company's stock valued at $424,000 after acquiring an additional 910 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of TEGNA by 34.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,364 shares of the company's stock valued at $80,000 after acquiring an additional 1,111 shares during the last quarter. Finally, Bessemer Group Inc. raised its holdings in shares of TEGNA by 15.0% during the fourth quarter. Bessemer Group Inc. now owns 9,888 shares of the company's stock valued at $181,000 after acquiring an additional 1,288 shares during the last quarter. Hedge funds and other institutional investors own 92.19% of the company's stock.

Wall Street Analyst Weigh In

TGNA has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their target price on TEGNA from $19.00 to $18.00 and set a "neutral" rating for the company in a report on Wednesday, May 21st. Wells Fargo & Company cut their price target on TEGNA from $23.00 to $21.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Benchmark cut their price target on TEGNA from $21.00 to $20.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Guggenheim increased their price target on TEGNA from $20.00 to $22.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Finally, Wall Street Zen cut TEGNA from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Two investment 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 currently has an average rating of "Moderate Buy" and a consensus target price of $20.25.

TEGNA Trading Down 0.4%

TGNA stock traded down $0.07 during midday trading on Monday, hitting $16.64. 1,008,721 shares of the company's stock were exchanged, compared to its average volume of 1,966,945. The business has a 50-day simple moving average of $16.90 and a two-hundred day simple moving average of $17.74. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $2.67 billion, a PE ratio of 5.88 and a beta of 0.31. TEGNA Inc. has a 1-year low of $12.35 and a 1-year high of $19.62.

TEGNA (NYSE:TGNA - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.34 by $0.03. TEGNA had a return on equity of 14.49% and a net margin of 16.75%. The business had revenue of $680.05 million during the quarter, compared to analyst estimates of $677.24 million. During the same period last year, the business posted $0.45 earnings per share. The company's quarterly revenue was down 4.8% on a year-over-year basis. On average, sell-side analysts predict that TEGNA Inc. will post 3.02 EPS for the current fiscal year.

TEGNA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th will be given a dividend of $0.125 per share. The ex-dividend date is Friday, June 6th. This represents a $0.50 annualized dividend and a dividend yield of 3.00%. TEGNA's dividend payout ratio is currently 17.61%.

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.