Segall Bryant & Hamill LLC Sells 42,869 Shares of TEGNA Inc. (NYSE:TGNA)

Segall Bryant & Hamill LLC reduced its stake in TEGNA Inc. (NYSE:TGNA) by 12.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 310,717 shares of the company’s stock after selling 42,869 shares during the period. Segall Bryant & Hamill LLC’s holdings in TEGNA were worth $5,683,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. KLP Kapitalforvaltning AS bought a new position in TEGNA in the 4th quarter valued at about $1,692,000. AXQ Capital LP acquired a new position in shares of TEGNA in the fourth quarter valued at approximately $238,000. Hillsdale Investment Management Inc. increased its stake in shares of TEGNA by 13,258.8% during the fourth quarter. Hillsdale Investment Management Inc. now owns 227,100 shares of the company’s stock worth $4,154,000 after purchasing an additional 225,400 shares during the period. Quantbot Technologies LP lifted its holdings in TEGNA by 288.0% during the 4th quarter. Quantbot Technologies LP now owns 32,783 shares of the company’s stock worth $600,000 after purchasing an additional 24,333 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its stake in TEGNA by 84.8% in the 4th quarter. Teacher Retirement System of Texas now owns 205,660 shares of the company’s stock valued at $3,762,000 after purchasing an additional 94,356 shares during the period. 92.19% of the stock is owned by institutional investors.

TEGNA Stock Down 1.2 %

TGNA stock opened at $18.73 on Thursday. TEGNA Inc. has a 52 week low of $12.35 and a 52 week high of $19.62. The business has a 50-day simple moving average of $18.03 and a 200 day simple moving average of $17.46. 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 company has a market cap of $2.99 billion, a PE ratio of 6.62 and a beta of 0.45.

TEGNA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 7th will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend is Friday, March 7th. TEGNA’s payout ratio is presently 14.12%.

Analyst Upgrades and Downgrades

TGNA has been the topic of several recent research reports. Wells Fargo & Company upgraded TEGNA from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $21.00 to $23.00 in a research report on Thursday, December 19th. Guggenheim reiterated a “buy” rating and issued a $22.00 price objective on shares of TEGNA in a research note on Friday, January 24th. Finally, StockNews.com downgraded shares of TEGNA from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Two 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $21.75.

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.