New York State Teachers Retirement System Sells 21,407 Shares of TEGNA Inc. (NYSE:TGNA)

New York State Teachers Retirement System lowered its stake in shares of TEGNA Inc. (NYSE:TGNA) by 8.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 227,754 shares of the company’s stock after selling 21,407 shares during the quarter. New York State Teachers Retirement System owned 0.14% of TEGNA worth $4,166,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of TGNA. Pacer Advisors Inc. boosted its holdings in TEGNA by 2,898.4% during the 3rd quarter. Pacer Advisors Inc. now owns 10,806,130 shares of the company’s stock valued at $170,521,000 after acquiring an additional 10,445,739 shares during the period. Empowered Funds LLC increased its position in TEGNA by 757.4% during the 3rd quarter. Empowered Funds LLC now owns 662,417 shares of the company’s stock valued at $10,453,000 after buying an additional 585,156 shares in the last quarter. Public Sector Pension Investment Board acquired a new position in shares of TEGNA in the third quarter valued at about $5,539,000. State Street Corp increased its holdings in shares of TEGNA by 3.5% in the third quarter. State Street Corp now owns 8,194,619 shares of the company’s stock valued at $129,991,000 after purchasing an additional 276,699 shares during the period. Finally, Geode Capital Management LLC increased its holdings 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 purchasing an additional 238,696 shares during the period. Hedge funds and other institutional investors own 92.19% of the company’s stock.

Wall Street Analysts Forecast Growth

TGNA has been the topic of a number of recent research reports. Guggenheim restated a “buy” rating and issued a $22.00 target price on shares of TEGNA in a research note on Friday, January 24th. JPMorgan Chase & Co. raised their target price on TEGNA from $16.00 to $19.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Wells Fargo & Company raised TEGNA from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $21.00 to $23.00 in a report on Thursday, December 19th. Benchmark raised their target price on TEGNA from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, StockNews.com upgraded TEGNA from a “hold” rating to a “buy” rating in a research report on Friday, December 13th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.75.

TEGNA Trading Up 0.8 %

NYSE:TGNA opened at $18.16 on Friday. The firm has a market cap of $2.93 billion, a PE ratio of 6.42 and a beta of 0.52. The stock has a fifty day moving average price of $18.24 and a 200 day moving average price of $16.77. 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 declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 7th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Friday, March 7th. TEGNA’s dividend payout ratio (DPR) is 17.67%.

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.