TEGNA (NYSE:TGNA) Given New $21.00 Price Target at Wells Fargo & Company

TEGNA (NYSE:TGNA) had its price target lowered by Wells Fargo & Company from $23.00 to $21.00 in a research note issued to investors on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other research firms have also commented on TGNA. StockNews.com lowered TEGNA from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Guggenheim lowered their target price on TEGNA from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, TEGNA currently has a consensus rating of “Moderate Buy” and an average price target of $20.75.

TEGNA Price Performance

TGNA opened at $16.07 on Thursday. The stock has a market cap of $2.58 billion, a P/E ratio of 5.68 and a beta of 0.25. TEGNA has a 12 month low of $12.35 and a 12 month high of $19.62. 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 fifty day simple moving average of $17.13 and a 200 day simple moving average of $17.70.

TEGNA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 7th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.50 annualized dividend and a dividend yield of 3.11%. TEGNA’s dividend payout ratio is currently 14.12%.

Institutional Trading of TEGNA

A number of institutional investors have recently made changes to their positions in the business. Jones Financial Companies Lllp acquired a new stake in TEGNA in the 4th quarter valued at $27,000. Neo Ivy Capital Management bought a new position in shares of TEGNA in the 4th quarter valued at about $28,000. Tower Research Capital LLC TRC increased its position in shares of TEGNA by 80.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,683 shares of the company’s stock valued at $31,000 after acquiring an additional 749 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in TEGNA by 95.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,702 shares of the company’s stock worth $31,000 after acquiring an additional 832 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new position in TEGNA during the fourth quarter valued at approximately $32,000. Institutional investors own 92.19% of the company’s stock.

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.