Wells Fargo & Company MN Acquires 19,453 Shares of TEGNA Inc. (NYSE:TGNA)

Wells Fargo & Company MN raised its holdings in shares of TEGNA Inc. (NYSE:TGNA - Free Report) by 9.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 223,654 shares of the company's stock after acquiring an additional 19,453 shares during the period. Wells Fargo & Company MN owned approximately 0.14% of TEGNA worth $4,091,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its stake in shares of TEGNA by 26.2% in the 3rd quarter. Principal Financial Group Inc. now owns 891,488 shares of the company's stock worth $14,068,000 after buying an additional 184,845 shares in the last quarter. EMC Capital Management lifted its holdings in TEGNA by 648.8% in the 4th quarter. EMC Capital Management now owns 20,346 shares of the company's stock valued at $372,000 after acquiring an additional 17,629 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of TEGNA by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,873,167 shares of the company's stock valued at $34,260,000 after purchasing an additional 93,894 shares in the last quarter. Guidance Capital Inc. bought a new stake in shares of TEGNA in the 4th quarter worth approximately $476,000. Finally, World Investment Advisors LLC bought a new stake in TEGNA during the third quarter worth approximately $528,000. Institutional investors and hedge funds own 92.19% of the company's stock.

Wall Street Analysts Forecast Growth

TGNA has been the subject of several research reports. Guggenheim reduced their price objective on TEGNA from $22.00 to $20.00 and set a "buy" rating for the company in a research note on Friday, April 11th. StockNews.com cut shares of 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. Based on data from MarketBeat, TEGNA has a consensus rating of "Moderate Buy" and a consensus price target of $21.25.

TEGNA Stock Up 0.6 %

Shares of NYSE:TGNA traded up $0.10 during trading on Friday, reaching $16.17. 805,802 shares of the company traded hands, compared to its average volume of 2,018,652. TEGNA Inc. has a 1-year low of $12.35 and a 1-year 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 $2.60 billion, a P/E ratio of 5.71 and a beta of 0.25. The firm has a fifty day simple moving average of $17.26 and a 200 day simple moving average of $17.69.

TEGNA Dividend Announcement

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

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.