Gamco Investors INC. ET AL Sells 10,724 Shares of TEGNA Inc. (NYSE:TGNA)

Gamco Investors INC. ET AL lessened its position in TEGNA Inc. (NYSE:TGNA) by 0.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,388,921 shares of the company’s stock after selling 10,724 shares during the quarter. Gamco Investors INC. ET AL’s holdings in TEGNA were worth $43,693,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TGNA. Norges Bank bought a new stake in shares of TEGNA in the 4th quarter valued at $12,170,000. Schroder Investment Management Group acquired a new position in shares of TEGNA during the fourth quarter worth approximately $4,429,000. Geode Capital Management LLC lifted its stake in shares of TEGNA by 5.1% in the third quarter. Geode Capital Management LLC now owns 4,905,588 shares of the company’s stock valued at $77,422,000 after buying an additional 238,696 shares in the last quarter. Hillsdale Investment Management Inc. boosted its stake in TEGNA by 13,258.8% during the 4th quarter. Hillsdale Investment Management Inc. now owns 227,100 shares of the company’s stock valued at $4,154,000 after purchasing an additional 225,400 shares during the last quarter. Finally, Bridgewater Associates LP boosted its position in shares of TEGNA by 77.5% during the fourth quarter. Bridgewater Associates LP now owns 488,006 shares of the company’s stock valued at $8,926,000 after buying an additional 213,097 shares during the last quarter. Institutional investors own 92.19% of the company’s stock.

TEGNA Price Performance

Shares of TEGNA stock opened at $15.87 on Tuesday. The business’s 50-day moving average price is $17.66 and its 200-day moving average price is $17.69. The firm has a market capitalization of $2.55 billion, a PE ratio of 5.61 and a beta of 0.25. TEGNA Inc. has a 12 month low of $12.35 and a 12 month high of $19.62. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.07.

TEGNA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 7th were issued a $0.125 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.15%. TEGNA’s payout ratio is 14.12%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on TGNA shares. Wells Fargo & Company upgraded shares of TEGNA from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $21.00 to $23.00 in a research note on Thursday, December 19th. StockNews.com lowered TEGNA from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Finally, Guggenheim decreased their target price on shares of TEGNA from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Friday. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $21.25.

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.