Boston Partners Has $43.43 Million Stock Holdings in TEGNA Inc. (NYSE:TGNA)

Boston Partners reduced its position in TEGNA Inc. (NYSE:TGNA) by 16.0% in the 4th quarter, HoldingsChannel reports. The firm owned 2,384,535 shares of the company’s stock after selling 453,193 shares during the period. Boston Partners’ holdings in TEGNA were worth $43,425,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Jones Financial Companies Lllp acquired a new stake in TEGNA in the 4th quarter valued at about $27,000. Smartleaf Asset Management LLC lifted its stake in TEGNA by 95.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,702 shares of the company’s stock valued at $31,000 after purchasing an additional 832 shares during the last quarter. GAMMA Investing LLC lifted its stake in TEGNA by 59.0% in the 4th quarter. GAMMA Investing LLC now owns 2,040 shares of the company’s stock valued at $37,000 after purchasing an additional 757 shares during the last quarter. Sound Income Strategies LLC acquired a new stake in TEGNA in the 4th quarter valued at about $57,000. Finally, Quarry LP lifted its stake in TEGNA by 455.2% in the 3rd quarter. Quarry LP now owns 4,025 shares of the company’s stock valued at $64,000 after purchasing an additional 3,300 shares during the last quarter. 92.19% of the stock is currently owned by institutional investors and hedge funds.

TEGNA Trading Up 3.9 %

Shares of NYSE:TGNA opened at $18.87 on Thursday. TEGNA Inc. has a 12-month low of $12.35 and a 12-month high of $19.62. The stock has a market cap of $3.02 billion, a PE ratio of 6.67 and a beta of 0.45. The business has a 50 day moving average of $17.97 and a 200-day moving average of $17.29. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.07.

TEGNA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 7th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Friday, March 7th. TEGNA’s dividend payout ratio (DPR) is currently 14.12%.

Analyst Ratings Changes

Several brokerages recently issued reports on TGNA. Guggenheim reiterated a “buy” rating and issued a $22.00 target price on shares of TEGNA in a research note on Friday, January 24th. Wells Fargo & Company upgraded shares of TEGNA from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $21.00 to $23.00 in a research report on Thursday, December 19th. Finally, StockNews.com cut TEGNA from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.75.

About TEGNA

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.