TEGNA Inc. (NYSE:TGNA) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its position in TEGNA Inc. (NYSE:TGNA) by 13.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 174,727 shares of the company’s stock after selling 28,300 shares during the quarter. New York State Common Retirement Fund owned about 0.11% of TEGNA worth $3,196,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Harbor Capital Advisors Inc. purchased a new stake in shares of TEGNA in the third quarter valued at about $28,000. GAMMA Investing LLC boosted its holdings in TEGNA by 59.0% in the 4th quarter. GAMMA Investing LLC now owns 2,040 shares of the company’s stock valued at $37,000 after purchasing an additional 757 shares in the last quarter. Sound Income Strategies LLC acquired a new position in TEGNA during the 4th quarter worth approximately $57,000. Quarry LP raised its stake in shares of TEGNA by 455.2% during the 3rd quarter. Quarry LP now owns 4,025 shares of the company’s stock worth $64,000 after buying an additional 3,300 shares in the last quarter. Finally, US Bancorp DE lifted its holdings in shares of TEGNA by 20.4% in the 3rd quarter. US Bancorp DE now owns 4,503 shares of the company’s stock valued at $71,000 after buying an additional 764 shares during the period. Hedge funds and other institutional investors own 92.19% of the company’s stock.

Analyst Upgrades and Downgrades

TGNA has been the topic of a number of recent analyst reports. StockNews.com lowered TEGNA from a “buy” rating to a “hold” rating in a report on Friday. Guggenheim reaffirmed a “buy” rating and set a $22.00 price target on shares of TEGNA in a research note on Friday, January 24th. JPMorgan Chase & Co. raised their price objective on shares of TEGNA from $16.00 to $19.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Benchmark boosted their price objective on shares of TEGNA from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Wells Fargo & Company raised shares of TEGNA from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $21.00 to $23.00 in a report on Thursday, December 19th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $21.75.

TEGNA Trading Up 1.3 %

Shares of TGNA stock opened at $18.17 on Friday. The stock has a market cap of $2.93 billion, a P/E ratio of 6.42 and a beta of 0.52. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.07. TEGNA Inc. has a fifty-two week low of $12.35 and a fifty-two week high of $19.62. The business has a fifty day simple moving average of $18.16 and a 200-day simple moving average of $16.88.

TEGNA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 7th will be given 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 of this dividend is Friday, March 7th. TEGNA’s payout ratio is currently 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.