TEGNA Inc. (NYSE:TGNA) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp cut its holdings in shares of TEGNA Inc. (NYSE:TGNA) by 23.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 99,079 shares of the company’s stock after selling 30,795 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in TEGNA were worth $1,812,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in TGNA. Principal Financial Group Inc. boosted its holdings in shares of TEGNA by 26.2% during the third quarter. Principal Financial Group Inc. now owns 891,488 shares of the company’s stock valued at $14,068,000 after acquiring an additional 184,845 shares during the period. EMC Capital Management lifted its position 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 purchasing an additional 17,629 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in 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 during the period. Guidance Capital Inc. bought a new position in TEGNA in the 4th quarter worth about $476,000. Finally, World Investment Advisors LLC acquired a new stake in shares of TEGNA in the third quarter valued at approximately $528,000. 92.19% of the stock is owned by institutional investors and hedge funds.

TEGNA Stock Performance

Shares of NYSE TGNA opened at $18.54 on Wednesday. TEGNA Inc. has a 1 year low of $12.35 and a 1 year high of $19.62. The firm has a market cap of $2.96 billion, a P/E ratio of 6.55 and a beta of 0.45. The stock has a fifty day moving average price of $18.05 and a two-hundred day moving average price of $17.61. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 7th were paid a dividend of $0.125 per share. The ex-dividend date was Friday, March 7th. This represents a $0.50 annualized dividend and a yield of 2.70%. TEGNA’s dividend payout ratio is currently 14.12%.

Analyst Upgrades and Downgrades

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