Amalgamated Bank Decreases Stock Position in TEGNA Inc. (NYSE:TGNA)

Amalgamated Bank decreased its position in shares of TEGNA Inc. (NYSE:TGNA) by 3.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,403 shares of the company’s stock after selling 1,659 shares during the period. Amalgamated Bank’s holdings in TEGNA were worth $867,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in TEGNA by 59.0% during the fourth quarter. GAMMA Investing LLC now owns 2,040 shares of the company’s stock valued at $37,000 after buying an additional 757 shares during the last quarter. US Bancorp DE raised its holdings in shares of TEGNA by 20.4% during the 3rd quarter. US Bancorp DE now owns 4,503 shares of the company’s stock worth $71,000 after acquiring an additional 764 shares in the last quarter. Sanctuary Advisors LLC boosted its position in shares of TEGNA by 7.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 17,994 shares of the company’s stock valued at $284,000 after acquiring an additional 1,239 shares during the last quarter. Covestor Ltd grew its holdings in shares of TEGNA by 20.8% in the third quarter. Covestor Ltd now owns 8,852 shares of the company’s stock valued at $140,000 after purchasing an additional 1,525 shares in the last quarter. Finally, Harbor Capital Advisors Inc. bought a new stake in TEGNA in the third quarter worth $28,000. Hedge funds and other institutional investors own 92.19% of the company’s stock.

TEGNA Stock Performance

Shares of NYSE:TGNA opened at $17.75 on Tuesday. 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 Inc. has a 12 month low of $12.35 and a 12 month high of $19.62. The company has a market capitalization of $2.86 billion, a price-to-earnings ratio of 6.27 and a beta of 0.52. The firm’s 50-day moving average is $18.15 and its 200 day moving average is $16.96.

TEGNA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 7th will be issued a $0.125 dividend. The ex-dividend date is Friday, March 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.82%. TEGNA’s payout ratio is 17.67%.

Analyst Ratings Changes

Several research firms have commented on TGNA. 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 report on Thursday, December 19th. JPMorgan Chase & Co. increased their price target on shares of TEGNA from $16.00 to $19.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. Benchmark boosted their price objective on TEGNA from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Guggenheim restated a “buy” rating and set a $22.00 price objective on shares of TEGNA in a research report on Friday, January 24th. Finally, StockNews.com cut TEGNA from a “buy” rating to a “hold” rating in a report on Friday. 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.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.75.

TEGNA Company 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.