TGNA has been the topic of several other reports. BidaskClub downgraded shares of Tegna from a sell rating to a strong sell rating in a research note on Tuesday, November 7th. Noble Financial reiterated a buy rating on shares of Tegna in a report on Tuesday, November 14th. ValuEngine upgraded shares of Tegna from a buy rating to a strong-buy rating in a report on Friday, December 1st. Wells Fargo & Co upgraded shares of Tegna from a market perform rating to an outperform rating and set a $19.00 price target on the stock in a report on Thursday, January 4th. Finally, Zacks Investment Research cut shares of Tegna from a hold rating to a sell rating in a report on Wednesday, January 10th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. Tegna currently has a consensus rating of Hold and an average target price of $15.63.
Shares of Tegna (NYSE:TGNA) opened at $12.84 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 3.02. The stock has a market cap of $2,785.59, a PE ratio of 6.03, a P/E/G ratio of 6.12 and a beta of 1.55. Tegna has a 1-year low of $11.59 and a 1-year high of $16.88.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Friday, March 9th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Thursday, March 8th. Tegna’s payout ratio is currently 13.15%.
In other news, COO Lynn B. Trelstad sold 3,112 shares of the company’s stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $12.85, for a total transaction of $39,989.20. Following the completion of the sale, the chief operating officer now owns 24,152 shares of the company’s stock, valued at approximately $310,353.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.81% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of TGNA. Xact Kapitalforvaltning AB purchased a new stake in Tegna during the 4th quarter valued at $297,000. Fairpointe Capital LLC raised its holdings in Tegna by 10.9% during the 4th quarter. Fairpointe Capital LLC now owns 11,373,812 shares of the company’s stock valued at $160,143,000 after buying an additional 1,119,057 shares during the period. MetLife Investment Advisors LLC purchased a new stake in Tegna during the 4th quarter valued at $1,916,000. Element Capital Management LLC purchased a new stake in Tegna during the 4th quarter valued at $9,331,000. Finally, Vident Investment Advisory LLC raised its holdings in Tegna by 6.5% during the 4th quarter. Vident Investment Advisory LLC now owns 179,016 shares of the company’s stock valued at $2,521,000 after buying an additional 10,934 shares during the period. Institutional investors and hedge funds own 99.91% of the company’s stock.
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Tegna Company Profile
Tegna Inc has a portfolio of media and digital businesses that provide content. The Company’s segments include TEGNA Media (Media) and TEGNA Digital (Digital). As of December 31, 2016, its media business included 46 television stations operating in 38 markets and offered television programming and digital content.
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