Louisiana State Employees Retirement System Has $1.43 Million Stock Position in TEGNA Inc. (NYSE:TGNA)

Louisiana State Employees Retirement System lowered its stake in shares of TEGNA Inc. (NYSE:TGNA) by 2.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 77,900 shares of the company’s stock after selling 2,100 shares during the period. Louisiana State Employees Retirement System’s holdings in TEGNA were worth $1,425,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in TGNA. Harbor Capital Advisors Inc. bought a new stake in TEGNA during the third quarter worth approximately $28,000. GAMMA Investing LLC raised its stake in TEGNA by 59.0% during the fourth quarter. GAMMA Investing LLC now owns 2,040 shares of the company’s stock worth $37,000 after acquiring an additional 757 shares in the last quarter. Sound Income Strategies LLC acquired a new position in TEGNA during the fourth quarter worth $57,000. Quarry LP increased its stake in shares of TEGNA by 455.2% in the third quarter. Quarry LP now owns 4,025 shares of the company’s stock valued at $64,000 after buying an additional 3,300 shares in the last quarter. Finally, US Bancorp DE increased its stake in shares of TEGNA by 20.4% in the third quarter. US Bancorp DE now owns 4,503 shares of the company’s stock valued at $71,000 after buying an additional 764 shares in the last quarter. Institutional investors own 92.19% of the company’s stock.

TEGNA Price Performance

TEGNA stock opened at $18.16 on Monday. The stock has a market capitalization of $2.93 billion, a P/E ratio of 6.42 and a beta of 0.52. The stock has a fifty day moving average of $18.29 and a 200-day moving average of $16.71. 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 Inc. has a 52 week low of $12.35 and a 52 week high of $19.62.

TEGNA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 7th will be given a dividend of $0.125 per share. The ex-dividend date is Friday, March 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.75%. TEGNA’s dividend payout ratio (DPR) is 17.67%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Benchmark raised their price target on TEGNA from $21.00 to $23.00 and gave the company a “buy” rating in a report on Friday, November 8th. StockNews.com upgraded TEGNA from a “hold” rating to a “buy” rating in a report on Friday, December 13th. Wells Fargo & Company upgraded TEGNA from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $21.00 to $23.00 in a report on Thursday, December 19th. JPMorgan Chase & Co. lifted their price objective on TEGNA from $16.00 to $19.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. Finally, Guggenheim reissued a “buy” rating and issued a $22.00 target price on shares of TEGNA in a research report on Friday, January 24th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.